SAN ANTONIO, Texas, Sept. 14, 2005 (PRIMEZONE) -- ATSI Communications, Inc. (OTCBB:ATSX) announced today that the Company's revenues for the Fiscal Year ended July 31, 2005 were $6 million. In comparison, this is a 379% increase over the previous Fiscal Year ended July 31, 2004. The Company also produced record revenues of $1,852,000 for the final quarter of FY2005 resulting in a 4th consecutive quarter of record revenues since its reincorporation. In addition, the Company reported that its core VoIP business is on track to eclipse the $1 million revenue mark for the month of September. Complete financial results for FY2005 will be announced along with the Company's filing of its annual report on form 10KSB with the Securities and Exchange Commission. The Company anticipates a timely filing of its 10KSB to occur on or before October 28, 2005.
Arthur L. Smith, CEO of ATSI stated, "We have demonstrated consistency in growing our core VoIP business over the past 14 months. The trend continues and we expect to report a 5th consecutive quarter of record revenues since our reincorporation. We look forward to communicating our accomplishments during FY2005 as well as recent achievements."
The Company also announced today that a $510,000 adversary claim filed by the Trustee representing TeleSpan, Inc. against ATSI has been dismissed without payment or promise of any consideration. In addition, a lawsuit filed in Bexar County, Texas by ATSI against Vianet Communications, Inc. involving a $2 million claim was settled out of court. Additional disclosure related to these dismissed or settled litigation matters will be included in the Company's 10KSB.
ATSI Communications, Inc. is an emerging global VoIP carrier serving rapidly expanding markets in Asia, Europe, the Middle East, and Latin America, with an emphasis on Mexico. ATSI believes that it has clear advantages over its competition through its strategic partnerships with established foreign carriers and network operators, interconnection and service agreements, and its unique concession license in Mexico.
This news release contains forward-looking statements. These statements describe management's beliefs and expectations about the future. We have identified forward-looking statements by using words such as "expect," "believe," and "should." Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties, and these statements may turn out not to be true. More detailed information about ATSI Communications, Inc. is available in the Company's public filings with the Securities and Exchange Commission.