African Nations Early Adopters of WiFi3™ Technology
October 9, 2013 – Ottawa, Canada – 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.
Fourth 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.
Revenues 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. The 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 (www.sedar.com)
About 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-density, high quality of service (QoS) and high-reliability needs of service providers and their customers. Leveraging over twenty (20) patents, Edgewater’s WiFi3™ is redefining Wi-Fi technology with its wide-band, multi-channel radio and high-capacity Access Point solutions, and delivering next generation Wi-Fi, today.
The best solution for High-Density Wi-Fi networks, Edgewater Wireless WiFi3 powered access point products enable innovative service providers to plan, build and deploy reliable, high-capacity services (like VoWiFI) for high-density wireless data demand in any environment.
Do more with less! Fewer access points delivering high quality service at a lower overall deployment cost make our patented WiFi3 technology the right choice for your next Wi-Fi network.
Explore the evolution of Wi-Fi at www.EdgewaterWireless.com
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless’ actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.
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