LEVITTOWN, Pa., Oct. 21, 2004 (PRIMEZONE) -- FTS Wireless, Inc., a wholly owned subsidiary of FTS Group, Inc. (OTCBB:FLIP), an operator of retail wireless locations that market and sell next generation wireless and VoIP products, and services and operate Wi-Fi Hot Spots today announced plans to develop a suite of proprietary wireless applications and that the company has turned cash-flow positive for the first time ever.
FTS CEO Scott Gallagher commented, "For the first time in our history FTS Wireless retail operations generated positive Cash-Flow during the month of September. With a strong and growing business now in place, we've identified two proprietary wireless products FTS can develop and deploy in a relatively short time frame in line with our long term plans. We believe the newly developed wireless applications will benefit tremendously from the more than 50% sequential revenue growth FTS is projecting for the 4th Quarter of 2004 and Q1 of 2005."
About FTS Wireless, Inc.
FTS Wireless Inc., 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 and the Philadelphia suburban market. The company markets and sells products worldwide through its e-commerce site's www.CellularDeals.com and www.SatPhoneCenter.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.
About RCR
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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.