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TelePlus Announces Q2 Results - TelePlus Announces Q2 Results - Higher than Expected Sales Reached $3.5M for the Quarter (40% increase); YTD Sales reached $6.4M (32% increase).
TelePlus Announces Q2 Results

 

PRZOOM - /newswire/ - Montreal, Quebec, Canada, 2005/08/15 - TelePlus Announces Q2 Results - Higher than Expected Sales Reached $3.5M for the Quarter (40% increase); YTD Sales reached $6.4M (32% increase)..

   
 
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TelePlus Enterprises, Inc. (OTCBB: TLPE), a vertically integrated provider of wireless and landline communications products and services across North America, is pleased to announce its results for the 2nd quarter and YTD 2005.

Telecom Results - Operating Profits Reached 30% of Sales.

Telecom sales for the 2nd quarter reached $563,468. Telecom EBITDA (earnings before depreciation, amortization and interest expenses) was positive $173,885 and net profit (before corporate overhead) was $171,669 (which is 30% of sales) as compared to no EBITDA and no net earnings contribution for the same period a year ago. Total number of subscriber lines at the end of the quarter reached 5,450. Telecom results include 3 months of operation of Freedom, and 1 month of operations from Avenue Reconnect, Inc. which was acquired in June 2005. These results do not include any revenues from Telizon, Inc. which was acquired in July.

Wireless Results - Sales Continued to Increase by 18%

Wireless sales for the 2nd quarter increased by $434,771 (or 18%) to $2,896,576 as compared to $2,461,805 for the same period a year ago. Wireless EBITDA was negative $310,355 and net loss (before corporate overhead and including one time charges for store consolidation) was $401,206 as compared to a negative EBITDA of $206,344 and a net loss (before corporate overhead) of $261,541 for the same period a year ago. Total number of wireless handset sales for the 2nd quarter reached 8,347 handsets, an increase of 22% compared to 6,831 handsets for the same period a year ago.

Consolidated Results - Positive Cash Flow Reached

Sales for the 2nd quarter increased by $998,239 (or 40%) to $3,460,044 as compared to $2,461,805 for the same period a year ago. Gross profit increased to 29% for the 2nd quarter from 27.5% for the same period a year ago. The Company had a negative EBITDA of $203,042 and net loss (before one time charges associated with the acquisitions and store consolidation) of $404,561 for the 2nd quarter as compared to a negative EBITDA of $206,344 and a net loss of $261,541 for the same period a year ago.

Sales revenues for the year to date ended June 30th, 2005 increased by $1,574,713 (or 32%) to $6,418,799 as compared to $4,844,086 for the same period a year ago. Gross profit as a percentage of sales increased to 30% versus 24.4% for the same period a year ago. The Company had a negative EBITDA of $557,280 and net loss (before one time charges associated with the acquisitions and store consolidation) of $975,401 for the year to date, as compared to a negative EBITDA of $519,089 and net loss of $613,486 for the same period a year ago. The Company's EBITDA loss as a percentage of sales decreased to 8.7% from 10.7% a year ago. The Company also generated $278,324 in positive Cash Flow from operating activities versus using $400,101 in cash for the same period a year ago.

Positive Earnings Anticipated for 3rd and 4th Quarter

``Second quarter results were good and in line with our expectations. We closed 3 acquisitions during the quarter and one at the beginning of Q3 increasing our revenue run rate by $15.6M and acquisitions are expected to contribute in excess of $2.9M to earnings (before taxes and depreciation),'' stated Robert Krebs, Company CFO. ``We also reached, during the quarter, an important milestone in generating positive cash flow from operating activities of $278,324 for the first 6 months of the year versus using $400,101 in cash for the same period a year ago. In addition, our decision to take all necessary write-offs associated with the cost of these acquisitions, recent capital raise and store consolidation in the 2nd quarter will further streamline our balance sheet and we are now in a good position to move forward and deliver positive earnings to our shareholders. These write-offs equaled $350,171 for the quarter and are non-recurring charges. We anticipate positive earnings for the 3rd and 4th quarter assuming unchanged market conditions,'' added Krebs.

This press release is available on the TelePlus' Investor Relation's site for investor questions, commentary and feedback. Investors are asked to visit agoracom.com and select the TelePlus Investor Relations HUB. Alternatively, investors can e-mail their questions or comments directly to TLPE[.]agoracom.com or asked to be placed on the TelePlus investor e-mail list to receive all future press releases directly.

About TelePlus

TelePlus Enterprises, Inc. ("TelePlus") is a vertically integrated provider of wireless and landline products and services across North America. The Company's retail division - TelePlus Retail Services, Inc. - owns and operates a national chain of TelePlus branded stores in major shopping malls, selling a comprehensive line of wireless and portable communication devices. TelePlus Wireless, Corp. operates a virtual wireless network selling cellular network access to distributors in the United States. TelePlus Connect, Corp. is a reseller of landline and long-distance services including internet services.

The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing a technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.

Source: TelePlus Enterprises Inc.

 
 
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TelePlus Announces Q2 Results

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