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Edgewater Wireless Announces Financial Results for Fourth Quarter and Fiscal Year 2013
(via Thenewswire.ca) African Nations Early Adopters of WiFi? Technology OTTAWA, ONT...
About this update from Edgewater Wireless Systems Inc.
[{"type":"text","content":"Edgewater Wireless Announces Financial Results for Fourth Quarter and Fiscal Year 2013(via Thenewswire.ca)\n \n \n African Nations Early Adopters of WiFi? Technology\n\n \n \nOTTAWA, ONTARIO - October 9, 2013 - Edgewater Wireless Systems Inc., (YFI; TSX.V) a leader in next generation WiFi technology, is pleased to announce publication of its financial results for the fourth quarter and fiscal year ended April 30, 2013.\n\n \n \nFourth quarter revenues increased 18.4% over the previous quarter to $397.4 thousand. Revenues for the year were $762.3 thousand, which represented an increase of more than five times (5x) compared to results for the fifteen month fiscal period ended April 30, 2012. (The 2012 fiscal period was the first for the Company after the acquisition, in October 2011, of the intellectual property assets that are the foundation of its business.) Fourth quarter revenues were buoyed by the second major shipment of Edgewater's WiFi3 equipment to World Affinity Telecom and the addition of 3C NET, in Nigeria, as a customer. \n\n \n \nRevenues in both the third and fourth quarters include services which accelerate the adoption and deployment of WiFi3 technology by Edgewater Wireless customers. Management anticipates that, as a percentage of revenue, services will decrease over time in favour of higher margin equipment revenues. \n\n \n \nThe information in this news release should be read in conjunction with the Company's audited consolidated financial statements for the 2013 fiscal year and associated management discussion and analysis (\"MD&A\") which are available under the Company's profile on SEDAR at www.sedar.com.\n\n \n \nAbout Edgewater Wireless Systems Inc.: Edgewater Wireless develops and commercializes leading edge technologies and intellectual property for the communications market. Edgewater Wireless delivers advanced product solutions designed to meet the high-performance, high quality of service (QoS) and high-reliability needs of service providers and their customers. Leveraging over twenty (20) patents, Edgewater Wireless' WiFi3 is redefining WiFi technology with its wideband, multi-channel radio and high-capacity Access Point solutions. It is delivering next generation WiFi, today. For more information, please visit www.edgewaterwireless.com.\n\n \n \nContact Investor Relations:\n\n\n \nAndrew Skafe...