HOUSTON, June 22, 2010 (GLOBE NEWSWIRE) -- Everybody's Phone Company, Inc. (Pink Sheets:EVPH), Texas' fastest growing provider of prepaid telephone services, announced today that it expects to achieve double-digit revenue growth and positive earnings before interest, taxes, depreciation and amortization (EBITDA) for the fiscal year ending December 31, 2011.
"Year-to-date, we've secured reseller agreements with AT&T and Verizon that position us to offer prepaid local 'dial tone' telephone service to the thousands of credit-disadvantaged individuals and families in the State of Texas," said Steven H. Bethke, president of Everybody's Phone Company. "We have focused on selling primarily to the residential market in the greater Houston area. As we obtain additional regulatory approval to sell outside of Texas, we anticipate to quickly ramp up our sales and earnings potential."
"We expect to grow total revenues to $1,079,000 and EBITDA to over $70,000 at year-end 2011 compared to a projected $ 250,00 in total revenues for 2010. For 2012, we are anticipating double-digit top-line growth with estimated total revenues of $2,610,000 and EBITDA of approximately $225,000," said Bethke. These projections are dependent on receipt of additional financing, which the Company said it is in the process of finalizing.
Earlier in 2010, Everybody's Phone Company began offering two federally-funded programs, Lifeline and Link-Up America, which provide subsidies and discounts to qualified families seeking basic telephone service. This program provides an additional source of revenues from reimbursement by the U.S. federal government. Growth plans for 2011 include expanding EVPH's reseller distribution channels to property owners and managers of apartment buildings, multiple dwelling units, grocery stores and check cashing outlets in low-income and government-subsidized neighborhoods.
About Everybody's Phone Company
Everybody's Phone Company (EVPH) acquires heavily discounted telephone service from the incumbent local exchange carriers, such as AT&T and Verizon, and resells the service at premium rates on a prepaid basis yielding above average profit margins and mitigating bad debt. Everybody's Phone Company has obtained regulatory approval to sell and provide local telephone service in the State of Texas [Service Provider Certificate of Operating Authority (SPCOA) No. 60785]. Once EVPH achieves critical mass in Texas, the Company plans to expand its prepaid telecommunications product offerings nationwide. For more information, visit www.everybodysphonecompany.com.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.