Franklin Wireless Announces Strong Results for First Fiscal Quarter 2008
Sales and Profit in Quarter Exceeded Sales and Profit for Entire 2007 Fiscal Year
| Source: Franklin Wireless Corporation
SAN DIEGO, CA--(Marketwire - November 15, 2007) - Franklin Wireless Corp. (OTCBB : FKLT ), a
developer and marketer of wireless broadband communications devices and
applications, announced record results for the first fiscal quarter of
2008, driven by strong sales of CDMA data products in the U.S., Caribbean
and South America.
The company reported sales increased 791.6 percent to $8.6 million for the
quarter ended Sept. 30, 2007, compared with $969,528 in sales during the
corresponding period of 2006. Net income also rose in the first quarter
2008 to $1.38 million from $98,923 in the first fiscal quarter 2007, and it
exceeded the $1.3 million in net income that was recorded for the entire
fiscal year 2007.
Sales during the quarter were driven by strong demand for the CDMA USB
products in the U.S. market, where sales totaled $4.6 million or 53.4
percent of Franklin Wireless' net sales. The Caribbean and South American
markets accounted for 42 percent, or $3.64 million, of net sales during the
first fiscal quarter.
"Sales in this quarter exceeded sales for the entire fiscal year, which is
a testament to our superior brand recognition and product quality," noted
OC Kim, president of Franklin Wireless.
Franklin Wireless products are marketed through Original Equipment
Manufacturers ("OEMs") and distributors, as well as directly to operators
and end users.
About Franklin Wireless
Franklin Wireless Corp. (OTCBB : FKLT ) designs and markets wireless
broadband high speed data communication products such as 3rd generation
("3G") wireless broadband modules and modems to end users and wireless
companies in North and South American countries. Franklin focuses on
wireless broadband USB modems, which provide a flexible way for wireless
subscribers to connect to the wireless broadband network with any laptop,
table PC or desktop USB port without a PC card slot. It markets its
products through original equipment manufacturers (OEMs) and distributors,
as well as directly to operators and end users in North and South America.
The company was founded in 1982 and is headquartered in San Diego,
California. For more information about Franklin Wireless, please visit
www.franklin-wireless.com
Certain statements in this press release constitute "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. Such
forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future
results, performance or achievements, expressed or implied by such
forward-looking statements.