TAMPA, Fla., April 26, 2005 (PRIMEZONE) -- FTS Group, Inc. (OTCBB:FLIP), a publicly traded holding company focused on developing and acquiring a diversified wireless business through its wholly-owned subsidiary FTS Wireless, Inc., today announced that it expects to report Q1 2005 revenue in the range of $280,000 to $310,000 when it files its form 10Q/SB shortly.
FTS Chief Executive Officer Scott Gallagher commented, "We are pleased with the continued growth of the Company during the first quarter of 05'. We extinguished our entire convertible debt, increased our top-line revenue, opened a new superstore and increased wireless activation's to record levels." Gallagher went on to say, "Our new locations, wireless local number portability and increased competition among the national carriers have all created a very positive operating environment for FTS heading into 2005, and we don't see it letting up anytime soon."
About FTS Wireless, Inc.
FTS Wireless Inc., a wholly owned subsidiary of FTS Group, Inc. (OTCBB:FLIP) is an emerging regional operator of retail wireless locations that market and sell next generation wireless products and services and operate Wi-Fi HotSpot's. FTS Wireless currently operates a chain of retail wireless locations in the Florida Gulf Coast region. The company markets and sells products worldwide through its e-commerce site's www.CellularDeals.com and www.CellChannel.com . For additional information about FTS Group, Inc. or its subsidiary, please visit our website at www.FTSWireless.com or review our periodic filings with the Securities and Exchange Commission at http://www.sec.gov.
Forward-Looking Statements
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the Company's Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.