BOCA RATON, Fla., June 13, 2006 (PRIMEZONE) -- Juniper Group, Inc.'s (OTCBB:JUNI) new vision of becoming a growing regional supporter to wireless market providers was seen in the first quarter of 2006. Juniper reported strong first quarter revenues of $1,158,889 vs. $137,397 for same period in 2005. The increase in revenues was directly attributed to the recent acquisition of New Wave Communications, Inc. On March 14, 2006 Juniper Services, a subsidiary of Juniper Group, Inc., completed the acquisition of New Wave through the purchase of all of the outstanding shares of New Wave in a Stock Purchase Exchange Agreement effective as of January 1, 2006. In accordance with this new focus on Juniper Services, Juniper wrote off a number of assets on December 31, 2005 in non-related businesses in order to focus on the wireless broadband business in 2006. While there were losses of $381,138 in the first quarter of 2006, this was due to further development of the new business model. James A. Calderhead, President of Juniper Services stated, "This eight fold revenue increase over the first quarter of 2005 is attributed to the business model developed last year and Juniper Services is now positioned to be a regional competitor in the wireless broadband market."
New Wave is a wireless communications contractor specializing in tower erection, extension, modifications and maintenance, as well as cellular, wireless broadband and microwave systems installation. New Wave manages and works projects primarily over a three state region surrounding Indiana, and is fully capable of, and in fact looking forward to, expanding this business on a national level. New Wave's core business is to provide tower build out, as well as antenna inline placement for lease space or existing towers for business and residential community wireless network customers, as well as independent local carriers who wish to offer broadband services to their existing customers. New Wave is the company of choice for the leading cellular carriers in the Midwest as well the top three tower management companies.
Juniper's CEO Vlado P. Hreljanovic stated, "The acquisition of New Wave has added a new dimension to the fundamentals of Juniper Services and will allow us to leverage our customer base. This will bring our broadband focus into a wireless market through voice, data and streaming video. We made a number of strategic decisions over the last six months, and our revenues reflect the momentum for Juniper and if we maintain this momentum, we could achieve a $5 million run rate this year. Over the next few weeks, we will announce additional changes and layout our corporate vision moving forward."
JUNIPER GROUP, INC.(UNAUDITED)
Three Months Ended March 31,
2006 2005
Revenues: ----------- -----------
Technology Services $ 1,158,889 $ 94,222
Entertainment Services -- 43,175
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1,158,889 137,397
Operating Costs:
Technology Services 901,259 88,358
Entertainment Services -- 27,799
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901,259 116,157
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Gross Profit 257,630 21,240
Selling, general and administrative
expenses Interest expense 579,877 389,790
Interest expense 57,891 37,325
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637,768 427,115
Net (loss) $ (380,138) $ (405,875)
Preferred stock dividend 1,521 1,521
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Net (loss) available to common
stockholders. $ (381,659) $ (407,396)
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Weighted average number of shares
outstanding $14,389,748 $ 9,623,334
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Basic and diluted net income (loss)
per common share $ (0.03) $ (0.04)
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Juniper operates in the wireless broadband technology market through Juniper Services, which assists wireless providers, cable companies, satellite and DSL providers in implementing broadband internet services for their customers. Juniper's focus has been on the expansion of its broadband connectivity business with wireless service providers and equipment vendors. Juniper's direction is to support the increased demand of its leading telecommunication customers in the deployment and maintenance of wireless/tower systems. Juniper provides customers with site surveys, tower construction and system integration, antenna installation and hardware and software installations.
Safe Harbor Statement. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, amount of, obtaining and satisfying terms of credit lines, competition, financing and commercial agreements and strategic alliances, seasonality, potential fluctuations in operating results and rate of growth, management of potential growth, system interruption, consumer and industry trends, limited operating history, and government regulation. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. Please refer to the Company's Form 10-K and other filings with the SEC for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov.