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Press Release Source: Pegasus Wireless Corporation
Pegasus Wireless Corporation Reports Fourth Quarter and Year End 2006 Financial Results
Monday April 2, 9:39 am ET
-- Company Maintains Profitability for Fifth Consecutive Quarter
FREEPORT, Grand Bahama--(BUSINESS WIRE)--Pegasus Wireless Corporation (OTCBB:PGSW - News), a leading provider of advanced wireless solutions, today announced the results for the Company's fourth quarter as well as year ended December 31, 2006. Growth highlights from the financials include:
Revenue for fiscal 2006 was $104 Million; Revenue in Quarter 4 2006 was $28 Million (4% increase over Quarter 3 2006 revenue)
Net income for fiscal 2006 was $613,000 or $0.03 basic earnings per share compared to net income of $93,000 and basic earnings per share of $0.01 in fiscal 2005
Operating Income rose from $200,000 in fiscal 2005 to $1.45 Million in fiscal 2006
Fiscal year 2006 was a period of vital intrinsic growth for Pegasus in which the Company faced many obstacles, but continued to accomplish goals that were set forth internally. Jasper Knabb, Chief Executive Officer of Pegasus Wireless Corporation, remarked, "We at Pegasus have undergone a remarkable transformation in 2006, and the fourth quarter was no exception. We have undergone a significant expansion with a new manufacturing facility in Grand Bahama that is dedicated solely to producing and distributing Pegasus Wireless products. This has allowed for the Company to considerably increase our turnaround time for orders of our ground-breaking CynaLynx product. I am proud to be leading Pegasus Wireless in such a critical time; the Company as a whole has faced many trials this year and has demonstrated a unique ability to rise to the challenge and make the vision of Pegasus Wireless - to bring our revolutionary technology to the forefront of the wireless industry - a reality."
About Pegasus Wireless Corporation
Pegasus Wireless Corporation is a leading provider of advanced wireless solutions. The Company creates revolutionary hardware and software solutions for broadband wireless networking, Internet access, industrial data transmission, and multimedia applications using cutting edge technology. Pegasus pioneered the wireless industry's first driver-less, truly plug-and-play wireless Ethernet bridge, and the Company's wireless networking products allow a higher user capacity per base station as compared to the competition. These products also offer advanced security, easy true plug-n-play installation, dynamic load balance, non-interrupting real-time roaming connectivity, e.g. VOIP, and fail-safe, self-healing mesh networking capability.