TAMPA, Fla., Jan. 17, 2006 (PRIMEZONE) -- FTS Group, Inc. (OTCBB:FLIP), a publicly traded acquisition and development company operating in the wireless space through its wholly owned subsidiary, today announced that FTS Wireless has acquired three additional Metro PCS authorized retail wireless locations from Largo, Florida based Beyond Wireless in an all cash asset purchase.
FTS CEO Scott Gallagher commented, "We're pleased to close our second acquisition in the past two weeks and start 2006 off on the right track. We anticipate the addition of Beyond's retail wireless locations to double sales of Metro PCS products and services immediately." Gallagher went on to say, "Coming off our best month of handset sales ever, we believe FTS is now well positioned to begin generating significant cash-flow throughout 2006 and execute our plan to profitability."
On January 3rd, 2006 FTS acquired 100% of the outstanding shares of Pennsylvania based See World Satellites, Inc, one of the top regional services providers for America's fastest growing satellite television provider Dish Networks (Nasdaq:DISH). See World expects to report audited financial results for 2005 and 2004 shortly.
About FTS Wireless, Inc.
FTS Wireless Inc., a wholly owned subsidiary of FTS Group, Inc. (OTCBB:FLIP); for additional information about FTS Group, Inc. or its subsidiary, please visit our web site http://www.FTSWireless.com or review our quarterly (10-Q) and annual report (10-K) filings with the Securities and Exchange Commission at http://www.sec.gov.
Forward-Looking Statements
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the Company's Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Readers are cautioned not to place reliance on these forward-looking statements, which speak only as of the date hereof.