TORONTO, Nov. 29, 2006 (PRIME NEWSWIRE) -- Wireless Age Communications, Inc. (OTCBB:WLSA), a leading supplier of solutions to the Canadian wireless communications industry, today announced that its wholly owned subsidiary mmwave Technologies Inc. has been contracted to provide engineering, project management and installation services to a national home improvement retailer supporting Voice over Wi-Fi and several other retail applications.
The project consists of the survey, design, installation and commissioning of a wireless network to support several mission critical applications, including Voice over Wi-Fi, at over 70 customer locations before December 31, 2006. Follow on business is expected in 2007.
Glenn Poulos, President of mmwave, stated, "I believe we are the vendor of choice in this market space in Canada, and one of the few who can marshal this kind of effort in such challenging time frames. Having our Vancouver Regional Operations centre in place helped us support this business, and commit to project completion this year. We expect that the 2006 phase of this project will provide at least $500,000 in incremental revenues prior to year end."
The company's Chairman and CEO, Brad Poulos, commented, "This is going to have a significant impact on our mmwave operating results prior to year end. We have been working on this initiative over the last few months and are pleased that we could close it prior to year end. We expect to be in a position to announce other orders of similar magnitude which we expect will have a positive impact on the fourth quarter results. We're in the middle of the busy part of the year within our retail business segment and the fourth quarter is shaping up to be operationally exceptionally strong."
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About Wireless Age Communications Inc.
Wireless Age's operations are segregated into two distinct segments, Retail and Commercial.
Retail:
Wireless Age retail outlets sell next generation wireless products and services to business and individual end users in Saskatchewan and Manitoba.
Commercial:
Within the Commercial segment, mmwave does specialty distribution and network engineering and integration, for carriers and manufacturers of communications equipment in Canada. Wireless Source distributes prepaid phone cards, wireless accessories, land mobile radios and ancillary electronics products to dealers throughout North America. Wireless Works operates broadband public access and private networks in Southern Ontario, and develops and deploys consumer and commercial products for those networks.
The company is a recognized leader in the wireless industry in Canada and is a member of the WiMax forum, as well as a very active member of the Canadian Wireless Telecommunications Association.
This press release contains "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Wireless Age Communications, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Wireless Age Communications, Inc. SEC filings. Wireless Age Communications, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Wireless Age Communications, Inc.'s business, please refer to the risks and uncertainties detailed from time to time in Wireless Age Communications, Inc.'s SEC filings.