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FTS Posts 537% Increase in First Quarter Revenue: Announces First Net Profit Ever 5/16/2006
Company Reports Record Q1 EBITDA of $70,848
TAMPA, FL, May 16, 2006 (MARKET WIRE via COMTEX News Network) -- FTS Group, Inc. (OTC BB: FLIP) today announced record first quarter operating results and the first operating profit in the nine year history of the Company. Below are selected operating results posted during Q1. FTS Group's full first quarter financial results are available at www.SEC.Gov.
-- Revenue for the quarter ended March 31, 2006 was a record $1,633,614 vs. $303,970 for the same period in 2005 resulting in an increase of 537%. -- Operating income for the quarter ended March 31, 2006 was $41,946 vs. an operating loss of ($586,875) for the quarter ended March 31, 2005 for a year over year improvement of $628,821. -- Net income totaled $5,251 compared to a net loss of ($770,987) for the same period of 2005 for a net improvement of $823,238. -- EBITDA (Earnings, Before Interest, Taxes, Depreciation and Amortization) was a record $70,848. -- Stockholders equity increased from $212,411 at 2005 year end to $1,513,831 at March 31, 2006 -- Total Assets increased from $1,974,495 at 2005 year end to $7,151,691 at March 31, 2006
FTS Group Chairman and Chief Executive Officer Scott Gallagher commented, "Even with acquisition-related expenses incurred during the first quarter FTS posted the first operating profit in the nine-year history of the Company. During Q1 we achieved something few OTC (over the counter) Companies ever see, a net profit." Gallagher continued, "Historically, the first quarter is the slowest quarter of the year in both the retail wireless and the satellite television businesses so were very proud to deliver profitable first quarter results to our shareholders." Gallagher went on to say, "We expect sequential increases in both top and bottom line numbers during the second quarter and through out 2006. We've laid out an aggressive growth strategy for 2006 and beyond that, in my opinion, will reward our long-term shareholders."
2006 Outlook
FTS expects revenue growth of 530% to 620% during fiscal 2006 of $7.2 to $8.1 Million from revenue of $1.3 during 2005, without any additional acquisitions. FTS further expects to post full year 2006 net income in the range of $600,000 to $900,000 compared to a loss of ($1,997,000) during 2005. Listing on the American Stock Exchange requires pre tax income of $750,000 in the most recent fiscal year among other factors (see AMEX.com). Our acquisition and deal pipeline remained very strong at the end of Q1. Although no additional letter of intents were signed during Q1 we expect to close additional significant acquisitions during 2006.
Operating Income
As we continue to grow our businesses we'll have three primary usages of cash generated from operations depending on timing and circumstances: Cash will be used for Acquisitions, Debt reduction or Share buy-backs in that order.
-------------------- Trading is a blast!! Posts: 4921 | From: Rhode Island | Registered: May 2005
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ok that should be enough info for everyon to make a decision! I am not in but plan on going in today. .19 high of the year with no profits you do the math !!!
-------------------- Trading is a blast!! Posts: 4921 | From: Rhode Island | Registered: May 2005
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RSI at 56 means she's got room to run. I will put my order in at .10 and see if I can get lucky. Every once in a while one of these rockets has a wet fuse and doesn't take off right at the open.
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
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Matto, I love this play! Will try to get in if I free up some other funds!
-------------------- "Sometimes I lie awake at night, and ask, 'Where have I gone wrong?' Then a voice says to me, 'This is going to take more than one night.'" - Charlie Brown (Charles Shultz) Posts: 719 | From: Leesburg, VA | Registered: Jul 2005
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whats awesome is that there is heavy resistance til .10....the inital buying pressure from the open will take care of that and then WE WILL FLY
Posts: 204 | Registered: Feb 2006
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-------------------- Organizations are perfectly dezined to get the results that they get. Posts: 190 | From: Houston,Tx | Registered: Jan 2005
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This is amazing news folks. A company not only runed profitable, but also making nice profits now. !
Posts: 383 | Registered: Apr 2006
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FTS Posts 537% Increase in First Quarter Revenue: Announces First Net Profit Ever
