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InvestSource, Inc.: Triple-Digit Percentage Sales Growth For Franklin
Wireless Records
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:29092008
Stocks in the news: Franklin Wireless Corp. (OTC BB:FKWL.OB),
Interactive Data Corporation (NYSE:IDC), Extreme Networks, Inc.
(NasdaqGM:EXTR), ViaSat Inc. (NASDAQ: VSAT)
September 26, 2008 - Franklin Wireless Corp. (OTC BB:FKWL.OB), a
developer and marketer of wireless broadband communications devices and
applications, announced strong sales and an increase in profit for the
fiscal year ended June 30, 2008, driven by substantial demand for the
company's USB modem products
Net sales increased 233.6 percent to $34.7 million for the fiscal year,
compared with $10.4 million in sales for the fiscal year ended June 30,
2007. Sales during the year were a result of significant demand for
CDMA USB products in North America, the Caribbean, and South America.
In the Caribbean and South America, net sales of CDMA USB modem
products jumped by $19.6 million, or 343.8 percent, to $25.3 million
for the year ended June 30, 2008, compared with $5.7 million in sales
the previous year. North American sales of CDMA USB modem products
increased by $5.1 million, or 118.9 percent, to $9.4 million for the
year ended June 30, 2008, compared with $4.3 million in sales the
previous year.
The jump in sales of CDMA USB modems drove Franklin Wireless' gross
profit margins, which increased by $5 million, or 185.5 percent, to
$7.7 million for the fiscal year. Gross profit was 22.2 percent of net
sales for the fiscal year, compared with 26 percent for the
corresponding period in 2007. The overall decrease in gross profit as a
percent of net sales was primarily attributed to competitive pricing
pressures in the USB modem market.
"Our strong position in the CDMA USB market continues to fuel our
tremendous growth," said Franklin Wireless President O.C. Kim. "We are
also making significant headway in the WCDMA/HSPA and WiMAX market with
high-end solutions." Franklin Wireless products are marketed through
distributors, as well as directly to operators and end users. The
company offers a full range of mobile broadband solutions of CDMA
1xEV-DO Rev.0 and Rev. A technologies, WCDMA solutions that include
HSDPA/HSUPA and WiMAX solutions based on the IEEE 802.16 standard.
September 26, 2008 - Interactive Data Corporation (NYSE:IDC), a leading
provider of financial market data, analytics and related services to
financial institutions, active traders and individual investors, today
announced that the Company will release its third-quarter 2008 results
before the market opens on Thursday, October 23, 2008. The Company has
scheduled a conference call for 11:00 a.m. ET on the same day.
The dial-in number for the conference call is (706) 679-4631 and the
related access code is 66410581. For those who cannot listen to the
live broadcast, a replay of the call will be available from October 23
at 2:00 p.m. until Thursday, November 6, 2008 at 2:00 p.m., and it can
be accessed by dialing (706) 645-9291 or (800) 642-1687, using access
code 66410581.
A live webcast of the conference call, along with related slides, will
be broadcast on the Company's Web site, www.interactivedata.com. A
replay of the call and the related slides will also be available on the
Company's Web site after the call is completed.
September 26, 2008 - Following the flooding and destruction brought by
"Hurricane Ike" throughout the Houston area last week, Extreme
Networks, Inc.'s (NasdaqGM:EXTR) Ethernet network solutions and account
teams helped answer the call for metro service provider Phonoscope,
which carried out its disaster recovery procedures helping hundreds of
its customers regain communications and data.
Phonoscope met the challenge last week to reinstate fiber-based optic
Ethernet connectivity for businesses and government agencies in the
hours and days following the powerful hurricane. Disaster recovery
planning started early beginning with strategy meetings to review and
update Phonoscope's emergency procedures prior to the onset of the
hurricane season. As Hurricane Ike loomed in the gulf, the network team
began to execute its strategy as early as the Thursday prior to
landfall for the storm. Hurricane Ike hit at daybreak on Saturday,
September 13, with 100 mph winds and immense rainfall.
Phonoscope has provided Gigabit Ethernet LAN services to the Houston
area over the last decade and was presented with a critical challenge
of rapidly and efficiently delivering network services to those public
safety, municipal, enterprise businesses, school districts, and
universities adversely affected by the storm. At the peak of the
outage, up to 700 network devices were out of commission; however, in
less than a week 90% of customer services were restored.
September 26, 2008 - ViaSat Inc. (NASDAQ: VSAT) has been awarded an
additional order valued at approximately $7 million for Multifunctional
Information Distribution System (MIDS) terminals from the Space and
Naval Warfare Systems Command (SPAWAR), San Diego. The order augments
the $52 million Lot 9 delivery order announced on June 11, received by
ViaSat as part of the MIDS annual Lot procurements. The Lot 9 add-on
consists primarily of LVT(2)/LVT(11) ground-based Low Volume Terminals,
along with LVT(1) airborne terminals.
MIDS LVT is part of a tactical radio system that collects data from
many sources and displays an electronic overview of the battlefield
using secure, high capacity, jam resistant, digital data and voice. The
system is used by the U.S. Navy, U.S. Air Force, U.S. Army, as well as
militaries of other nations. ViaSat is one of two U.S.
government-qualified manufacturers of Link 16 MIDS airborne terminals
and is the only qualified manufacturer of the LVT(2) ground-based
terminal
Market Wrap for September 26, 2008 -
Uncertainty made its way back into the stock market Friday.
Participants spent the latter part of this week awaiting approval of a
federal asset purchase plan designed to help restore financial
conditions.
Infighting is keeping congressional leaders from approving a $700
billion plan to purchase distressed assets from financial firms,
intended to restore firms' balance sheets and capital markets.
JPMorgan's acquisition gives it the second largest branch network
behind Bank of America (BAC 36.70, +2.33). Diversified financial
service firms, effectively JPMorgan Chase, Bank of America, and
Citigroup (C 20.15, +0.74), were some of the session's strongest
players.
Their influence helped the Dow reverse an early 1.4% loss into a 1.1%
advance. Financials were down as much as 3.2% early on. The sector
rallied to close 3.2% higher.
In other corporate news, Research In Motion (RIMM 70.76, -26.77) posted
solid revenue and net income growth for its latest quarter.
With only a few days remaining in the third quarter, economic data
pertaining to the second quarter is of little issue anymore. In turn,
market participants looked past lowered second quarter real GDP data.
The final real GDP reading indicated the economy expanded at an annual
rate of 2.8% from the prior reading of 3.3%. Real final sales of
domestic product increased 4.4%. DJ30 +121.07 NASDAQ -3.23 NQ100 -0.9%
R2K -0.1% SP400 -0.7% SP500 +4.09 NASDAQ Adv/Vol/Dec 1173/1.97 bln/1614
NYSE Adv/Vol/Dec 1042/1.19 bln/2110
ABOUT INVESTSOURCE, INC.: WIN an 8 day 7 nights Caribbean Getaway, GO
TO: www.investsourceinc.com.
Coming in late Summer of this year: Go Baby GO!!! The first book of its
kind on the OTCBB and Pink Sheet Markets
www.gobabygobook.com .
To hear "The Fastest 60 Seconds in the Small-Cap Market," please go to
www.ceo-corner.com
This opinion contains forward-looking statements that involve risks and
uncertainties. This material is for informational purposes only and
should not be construed as an offer or a solicitation to buy or sell
securities. InvestSource, Inc. has prepared all material herein based
upon information believed to be reliable. The information contained
herein is not guaranteed by InvestSource, Inc. to be accurate, and
should not be considered to be all-inclusive. The companies that are
discussed in this release have not given an opinion or approved the
statements made in this release. To view full disclaimers, please go to
http://investsourceinc.com/content/disclaimer.
This release may contain statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E the Securities Exchange Act of 1934,
as amended. The words "may," "would," "will," "expect," "estimate,"
"anticipate," "believe," "intend," and similar expressions and
variations thereof are intended to identify forward-looking statements.
Investors are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors. The information contained in an InvestSource profile is
provided as an information service only. The accuracy or completeness
of the information is not warranted and is only as reliable as the
sources from which it was obtained. To view full disclaimers, please go
to http://investsourceinc.com/content/disclaimer.
CONTACT: InvestSource, Inc
e-mail: info@investsourceinc.com
WWW: http://www.investsourceinc.com
((M2 Communications Ltd disclaims all liability for information
provided within M2 PressWIRE. Data supplied by named party/parties.
Further information on M2 PressWIRE can be obtained at
http://www.presswire.net on the world wide web. Inquiries to
info@m2.com)).
Copyright ? 2008 M2 Communications Ltd.
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