VANCOUVER, British Columbia, May 1, 2007 (PRIME NEWSWIRE) -- Moventis Capital, Inc. (OTCBB:MVTS), an acquisition and management company that acquires small and medium-sized private enterprises (SMEs) and provides resources and management to promote growth and enhance valuation, announces that its recently acquired portfolio company, PTL Electronics, Ltd. (PTL), has received approximately US$3.5 million in purchase orders from long term customer, Unity Wireless Corporation. The orders are for the current quarter and are scheduled for immediate delivery.
A leading developer of wireless network components, Unity Wireless added approximately US$1.9 million to an initial US$1.6 million in orders as announced in March of this year. A large portion of the new orders is for the manufacture of electronics components for indoor wireless repeaters to be used by several top tier system integrators as part of the infrastructure build-out for a Delhi, India-based wireless network operator. The indoor repeaters will extend wireless coverage and improve signal strength for key areas.
India is one of the world's fastest growing wireless communications market, with 166 million subscribers as of March 2007, an increase of 68% over 2006 according to the Telecom Regulatory Authority of India (TRAI). Further market growth is expected as the Indian government rolls out plans to subsidize private operators in rural areas under the Universal Service Obligation program.
According to PTL Co-CEO and COO Paul Heathcote, "The wireless communications market overall is valued in the billions, and the indoor wireless repeater segment, in particular, is growing very quickly in order to enhance wireless coverage in areas such as high-rises and tunnels. PTL will support Unity in capitalizing on this large market trend by enabling them to equip large urban buildings with indoor repeaters in a short time to market."
Adds Moventis CEO, Blake Ponuick, "PTL continues to help supply some of the word's largest and fastest growing markets with in-demand wireless technologies through key customers like Unity Wireless. PTL is dedicated to supporting its customers in meeting the needs of these market trends."
About PTL Electronics, Ltd.
PTL Electronics, Ltd. (PTL), a Moventis portfolio company, provides electronics manufacturing services (EMS) to a niche market of businesses looking to design and produce very high-end and complex products ranging from ultrasound machines to alternative fuel cells. PTL operates in the $115 billion EMS sector and serves some of the world's largest markets including industrial controls, medical services, telecommunications and computing. For more information on PTL, visit www.ptlelectronics.com.
About Unity Wireless Corporation
Unity Wireless is a developer of key network components for wireless carriers and OEM sub-components for network infrastructure manufacturers. For more information about Unity Wireless, visit www.unitywireless.com.
About Moventis Capital, Inc.
Moventis Capital, a Delaware corporation, is a publicly traded acquisition and growth management company that seeks to acquire quality, established small and medium-sized enterprises (SMEs) and provide resources and management to improve growth and enhance valuations. Moventis intends to capitalize on an underserved market of successful SMEs, primarily privately held, that do not meet the size or industry requirements of many acquisition and investment firms. For more information, visit www.moventiscapital.com.
Safe Harbor
Statements included in this news release, which are not historical in nature, are intended to be, and are hereby identified as "Forward-Looking Statements" for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management's current expectations or beliefs and are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including without limitation the ability of Moventis (or any other company mentioned in this release) to consummate acquisitions, obtain necessary financing and successfully grow operations, revenue and profitability. The PTL purchase orders mentioned in this release represent orders from customers for manufacturing services currently scheduled through June 30, 2007. The actual dates of completion or when and how much revenue is booked may vary based on a number of factors affecting normal business operations, including changing customer needs and requirements. There can be no assurance that bookings will convert to revenue, or that PTL will be able to increase capacity to fulfill orders in a timely fashion. Forward-Looking Statements may be identified by words including "outlook," "anticipate," "await," envision," "foresee," "aim at," "plans," "believe," "intends," "estimates," "expects" and "projects" including, without limitation, those relating to the company's financial expectations and future business prospects. Readers are directed to the Moventis filings with the US Securities and Exchange Commission, including its Risk Factors described in its Annual Report on Form 10-KSB for the fiscal year ended June 30, 2006 and its quarterly reports on Form 10-QSB; other risks or uncertainties may be detailed from time to time in future SEC filings for additional information and a presentation of the risks and uncertainties that may affect the company's business and results of operations. Any financial guidance provided in this news release is based on limited information available to Moventis at this time and is subject to change. Although management's expectations may change after the date of this news release, Moventis undertakes no obligation to revise or update this guidance or publicly release the results of any revision to these forward-looking statements.