TAMPA, Fla., March 6, 2006 (PRIMEZONE) -- FTS Group, Inc. (OTCBB:FLIP), a publicly traded acquisition and development Company operating in the wireless space through its wholly owned subsidiaries FTS Wireless, Inc. and See World Satellites, Inc., today reported audited financial statements for fiscal 2005 and 2004 for its recently acquired subsidiary See World Satellites, Inc. The Company also reported unaudited proforma financial statements for 2005 and 2004.
The Company's wholly owned subsidiary, See World Satellites, Inc. (SWS), reported 2005 audited top line revenue of $5,038,676 with net income of $922,081 after one time expenses of ($537,189). For 2004 SWS reported audited top line revenue of $4,248,285 with net income of $389,877 after one time expenses of ($472,680).
FTS CEO, Scott Gallagher, commented, "We're pleased to have the audit of See World now completed and filed. Our shareholders can see what a strong Company See World is and know what to expect from management heading into 2006. FTS Wireless has set sales records for the past two months running. All these positive events place FTS on a track for an exciting Q1 and 2006." Gallagher went on to say, "The acquisition of SWS has placed FTS on track to look to an exchange listing later in 2006 or early 2007. We expect to achieve two key qualifications of an American or Nasdaq stock exchange listing, profits and increased stockholders equity during fiscal 2006."
About FTS Group, Inc.
FTS Group, Inc. (OTCBB:FLIP), is a publicly traded holding company operating in the wireless industry through its wholly owned subsidiaries FTS Wireless, Inc and See World Satellites, Inc. The Company operates through locations in Florida and Pennsylvania Globally over the Internet through its web sites CellChannel.com, SeeWorld.biz and FTSWireless.com. For additional information about FTS Wireless, Inc., See World Satellites, Inc. or FTS Group, Inc. please review the Companies quarterly, annual and other filings with the Securities and Exchange Commission at www.SEC.gov or contact the Company at the e-mail or phone number below.
Additional Information for Investors
This release may contain forward-looking statements regarding the Company's business, customer prospects, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in the forward-looking statements. Investors should read and understand the risk factors detailed in the Company's 10-KSB for the fiscal year ended December 31, 2004 and in other filings with the Securities and Exchange Commission and www.SEC.gov.