MONTREAL, July 18, 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, today announced that second quarter consolidated results indicate revenues of $3.38 million, representing a 37.4% increase over the same period last year in which the Company reported revenues of $2.46 million. Wireless revenues represented 83.6% (or $2.83M) of total revenues while Telecom revenues represented the balance of 16.4% or ($554k).
The Company completed 3 acquisitions during the quarter which in the aggregate represented 16.4% of total revenues (or $554k) during the quarter. The Company also closed a 4th acquisition effective the last day of the quarter. Company anticipates revenues from these acquisitions to reach $15.6M on an annual basis.
Six Months YTD consolidated results reached $6.34 million representing a 30.9% increase over the same period last year in which the Company reported revenues of $4.84 million. Wireless revenues represent 91.3% (or $5.79M) of these revenues while Telecom revenues represent the balance of 8.7% or ($554k).
"We had a great second quarter in many respects," stated company CEO, Marius Silvasan. "First we completed 4 strategic acquisitions during the quarter gaining $15.6M in revenue, second we continued to grow organically our core business, third we initiated with success the integration of the acquired businesses and finally we signed important distribution agreements for our wireless products. We are very well positioned to outperform our original expectations for the third quarter and remainder of the year," added Silvasan.
The company's second quarter financials will be disclosed mid-August.
Investors are asked to e-mail all questions and correspondence to TLPE@agoracom.com where they can also request to be added 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.