MONTREAL, Aug. 29, 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 that preliminary results for July indicate the Company's consolidated revenues more than doubled reaching $2.3M (104% increase) as compared to $1.1M for the same month a year ago. The Company also generated a positive EBITDA from Operations (defined as earnings before depreciation, amortization, interest, taxes and corporate overhead) of $89k compared to a negative EBITDA of $55,145 the same month a year ago.
"We are very satisfied with the July results. These results reflect the integration of the recently completed acquisitions to our core business increasing our revenue run rate to around $30M per annum. We have also reached in July a very important milestone in reaching positive EBITDA from Operations," stated Marius Silvasan, Company CEO. "As we complete the integration of the companies we recently acquired and focus on organic growth, we anticipate that both our revenues and earnings will increase."
This press release is available on the TelePlus' Investor Relation's site for investor questions, commentary and feedback. Investors are asked to visit http://www.agoracom.com and select the TelePlus Investor Relations HUB. Alternatively, investors can e-mail their questions or comments directly to TLPE@agoracom.com or asked to be placed on the TelePlus investor e-mail list to receive all future press releases 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.