TAMPA, Fla., Aug. 18, 2005 (PRIMEZONE) -- FTS Group, Inc. (OTCBB:FLIP), a publicly traded holding company operating in the wireless industry through its wholly owned subsidiary FTS Wireless, Inc., today announced record operating results for the quarter ending June 30, 2005.
FTS Chief Executive Officer Scott Gallagher stated, "Although our stock has performed poorly recently, our business has not. We have just completed the best quarter in the history of our Company, Q2 revenue surged nearly 200% to $346,730, EBITDA (earnings before interest, taxes, depreciation, and amortization) for the six month period improved by 28%, Net Loss improved by 11% and finally our SG&A expenses dropped 7%." Gallagher went on to say, "We remain optimistic that FTS will turn profitable by year end on a run rate basis. Our current deal pipeline remains very strong heading into the second half of the year and we anticipate closing one or more of the deals we are currently negotiating during Q3."
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 HotSpots. 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 http://www.CellChannel.com. For additional information about FTS Group, Inc. or its subsidiary, please visit our web site http://www.FTSWireless.com or review 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 reliance on these forward-looking statements, which speak only as of the date hereof.