MONTREAL, May 17, 2005 (PRIMEZONE) -- TelePlus Enterprises, Inc. (OTCBB:TLPE) (http://www.teleplus.ca), a vertically integrated provider of wireless and landline communications products and services across North America, is pleased to announce today its subsidiary TelePlus Connect Corp. ("TelePlus Connect"), which operates the Company's prepaid telecom division, posted positive earnings (before depreciation, amortization and taxes) (EBITDA) of $48,000 for the month of April.
EBITDA Results Exceed Expectations
TelePlus Connect was created following the acquisition of Keda Consulting ("Keda") and Freedom Phone Lines ("Freedom") last month. Original forecasts called for early EBITDA resulting from the Freedom acquisition to reach $300,000 per annum. April results may indicate annualized EBITDA to reach in excess of $500,000 without considering any impacts resulting from organic growth or closing of our pending acquisitions. The TelePlus Connect business plan calls for the company to pick up $112 million in revenue and $28 million in EBITDA over the next 60 months.
Three More Acqusitions To Bring $18.5 Million In Revenue and $2.8 Million In EBITDA
TelePlus announced three other acquisitions in the last 90 days, which are to be integrated to its TelePlus Connect subsidiary. These acquisitions are expected to increase TelePlus' revenues by $18.5 million and contribute in excess of $2.8 million to its EBITDA.
"We are very pleased with the performance of our Prepaid Telecom business in April. EBITDA results are higher than our original expectations. Some cost reductions that were implemented immediately following closing of the Freedom acquisition resulted in immediate margin improvements," stated Marius Silvasan, CEO of TelePlus Enterprises. We are diligently working on the completion of the due diligence of our other pending acquisitions in this space and anticipate reporting positive announcements to our shareholders in the short term," added Silvasan. (1USD = 1.23CDN)
This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com and view the TelePlus Investor Relations Hub. Alternatively, investors are asked to e-mail all questions and correspondence to TLPE@agoracom.com where they can also request addition to the TelePlus investor e-mail list to receive all future press releases and updates directly.
About TelePlus http://www.teleplus.ca
TelePlus Enterprises, Inc. ("TelePlus") is a vertically integrated provider of wireless and landline products and services across North America. The Company's retail division--TelePlus Retail Services, Inc.--owns and operates a national chain of TelePlus branded stores in major shopping malls, selling a comprehensive line of wireless and portable communication devices. TelePlus Wireless, Corp. operates a virtual wireless network selling cellular network access to distributors in the United States. TelePlus Connect, Corp. is a reseller of landline and long distance services including Internet services.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing a technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.