[April 02, 2007] ADDING and REPLACING Pegasus Wireless Corporation Reports Fourth Quarter and Year End 2006 Financial Results Tweet FREEPORT, Grand Bahama --(Business Wire)-- Adding forward-looking statements after last graph of release. The corrected release reads: PEGASUS WIRELESS CORPORATION REPORTS FOURTH QUARTER AND YEAR END 2006 FINANCIAL RESULTS -- Company Maintains Profitability for Fifth Consecutive Quarter Pegasus Wireless Corporation (OTCBB:PGSW), 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. NOTES ABOUT FORWARD-LOOKING STATEMENTS Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risks and uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to, (i) our ability to complete successful acquisitions of complementary companies, products and technologies; (ii) our ability to attract and retain customers; and (iii) our ability to gain market share. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements, and there can be no assurance that the actual results anticipated by Pegasus Wireless will be realized, or if substantially realized, that they will have the expected consequences to or effects on Pegasus Wireless or its business or operations. [ Back To TMCnet.com's Homepage ]