Business
Route1 Reports 1st Quarter 2006 Financial Results
Route1 Reports 1st Quarter 2006 Financial Results.
About this update from Route1 Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, May 23 /CNW/ - Route1, Inc. (TSXV:ROI) reports its first quarter\nfinancial results for the period ended March 31, 2006.\nThe Company had revenues of $127,070 for the quarter ended March 31,\n2006. These revenues reflect the first full quarter of sales of the MobiKEY\ninto some key early stage accounts plus some final sales of the MobiBook Pro.\nThe Company's losses from operations were $1,445,664 or $0.01 per share for\nthe same period. Current assets were $4,337,931 which included $3,627,441 in\ncash and cash equivalents and short term investments. Current liabilities were\n$714,564. For the complete financial statements please visit www.sedar.com.\n\"The results of the first full quarter since the release of MobiKEY are\nreflective of the early selling stage of the Company. We are getting our\nMobiKEY out into the hands of customers and users who are very quickly\nbecoming advocates of our product.\" said Andrew White, CEO, Route1. \"MobiNET\nclearly differentiates us by delivering secure identity management. MobiNET\nand MobiKEY work together to provide the most powerful and easy-to-use secure\nremote computing solution to support emergency preparedness/disaster recovery,\nbusiness continuity and regulatory/corporate compliance needs.\"\n\nTeleconference Webcast\nThe Company will host an investor teleconference webcast today at\n4:30 pm EST. Andrew White, CEO, and John Denham, CFO, will lead a presentation\nand answer questions about the Company's progress. Investors and analysts are\ninvited to call 416-644-3415 or visit\nhttp://www.route1.com/investors/investor_webcasts.htm at least 5 minutes prior\nto the start of the call. The audio webcast will be archived and available for\nreplay for 90 days.\n\nAnnual Meeting\nRoute1 will hold its Annual and Special Meeting of Shareholders on\nJune 15, 2006, 11:00 am EST, at the Hilton Toronto Hotel, 145 Richmond Street\nWest, Toronto.\n\nAbout Route1, Inc.\nRoute1's innovative remote access solution transforms the way people\nwork. The MobiKEY is a unique remote computing solution embedded on a Smart\nCard-enabled USB device. With Route1's MobiKEY, communication between the\nremote computer and the host computer is initiated from inside the corporate\nfirewall out to the remote device. This inside out approach eliminates the\npossibility of unauthorized access thr...