NextPhase Wireless Reports Fiscal Year 2006 Results
ANAHEIM, CA—Jul 17, 2006 — NextPhase Wireless (OTC BB: NXPW), a next-generation connectivity company that specializes in integrated Internet, voice and data communication solutions, today announced that it has filed its Annual Report on Form 10-KSB for the fiscal year ended March 31, 2006. The company had previously filed a Form 12b-25 with the Securities and Exchange Commission (”SEC”), in order to extend the filing due date for its Form 10-K, as permitted under SEC rules. The filing was made within the fifteen-day extension period.
FY 2006 Highlights
– Revenues increased 1,479% year-over-year.
– Gross profit increased 297% year-over-year.
– Sales, General, and Administrative (SGA) expenses decreased 19% year-
over-year.
– Net loss decreased 57% year-over-year
Readers are directed to the company’s Annual Report on Form 10-KSB for more detailed information about or financial results for fiscal year 2006.
Executive Overview
“Overall, 2006 was a good year for NextPhase Wireless, as we continued to execute our business strategy, focusing on identified growth opportunities in the broadband internet service and wireless connectivity and integration markets, and delivering an integrated portfolio of innovative connectivity products and services to those markets,” said Robert Ford, NextPhase’s President and CEO.
“Within our Broadband division, we successfully completed two acquisitions, Blazen Wireless and SpeedFactory, the latter being completed shortly after the close of the financial year. These acquisitions have allowed us to consolidate our wireless footprint in Southern California, enter the fast-growing South-East market, and increase our customer base by over 1100%. Building upon these acquisitions, we have partnered with other Internet Service Providers (ISPs) and telecommunication companies to offer a broad range of products and services that can deliver flexible, scalable, reliable and cost-effective connectivity solutions to business customers anywhere in North America,” added Ford.
“Within our Professional Services division, we pride ourselves on our active role in helping to shape the rapidly evolving municipal broadband market, by co-sponsoring the first Digital Cities Convention, actively participating in both WiMAX Forum(TM) and Wireless Communications Association International (WCA) events and dialog, and launching our Digital Direction Seminar Series, which focuses on municipalities and how wireless technologies can be a catalyst for Economic Development, Community Access, and Public Safety. In the municipal broadband and mobile security markets that we target, we’ve taken a market-back approach, focusing on identifying strategic opportunities that match our capabilities and competitive advantages. Where we’ve identified common needs, we’ve developed ‘productized’ solutions such as NextZone(TM) Connectivity Solutions, Sudden Network(TM) Solutions and NextNode Virtual Networks(TM) that we’re actively marketing nationwide. Lastly, we’ve put a series of strategic alliances in place that allow us to rapidly scale to deliver wireless connectivity and integration solutions anywhere in the US,” added Ford.
“Looking forward to 2007, we’re making good progress in integrating our recent acquisition, SpeedFactory. Our research suggests that there is a growing market for cost-effective, high-touch (enabled through automation and integration) connectivity services to customers alienated by their existing ISPs. Having negotiated a number of favorable reseller agreements, we’re now in a position to deliver a broad range of flexible , scalable, reliable and cost-effective connectivity solutions, nationwide. From the municipal broadband and mobile security perspective, we believe both of these markets will rapidly mature in 2007, with opportunities to gain market leadership for those companies that can scale rapidly and deliver consistently. We intend to be one of those market leaders,” concluded Ford.
About NextPhase Wireless, Inc.
NextPhase Wireless, Inc. is a next-generation connectivity company that specializes in delivering integrated Internet, voice and data communications solutions to its customers. The Company offers a full portfolio of connectivity solutions, including dial-up access, DSL, wireless, T1, co-location and web-hosting. It also designs, deploys and operates its own wireless networks, in addition to providing wireless connectivity solutions to businesses and municipalities. The Company is an active member of the Wireless Communications Association International (WCA). Leveraging its full-service capabilities and world-class infrastructure, NextPhase Wireless offers a comprehensive portfolio of connectivity solutions that meet customers’ needs today, and can anticipate and grow to meet their needs of tomorrow.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies’ pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. NextPhase Wireless Inc. cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. NextPhase Wireless Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company’s expectations or any change in events, conditions or circumstances on which any such statement is based. Readers are encouraged to review the Forward Looking Statements sections in our Annual Report on Form 10-KSB for the year ended March 31, 2006 for additional cautionary language that relate to the matters in this release.
Contact:
NextPhase Wireless, Inc.
Robert Ford
800-748-5548
rford@npwireless.com
Investor Relations:
IR Affiliates
John Pentony
469-361-6239
NXPW@iraffiliates.com
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