Juniper has been able to retire over $700,000 in accounts payable utilizing cash generated
Juniper Group Reports Increase in Revenue
BOCA RATON, Fla., Sep 17, 2010 (GlobeNewswire via COMTEX) -- Juniper Group, Inc. (OTCBB:JUNP), a growing national supporter to wireless telecommunication companies, reported today that its revenue for the six months ended June 30, 2010 increased to approximately $1,698,000, as compared to $109,000 for the six months ended June 30, 2009. This significant increase in revenue was a direct result of the Company's wholly owned telecommunications subsidiary devoting all of its resources to building its wireless infrastructure services business. In addition, during the past 90 days, Juniper has been able to retire over $700,000 in accounts payable utilizing cash generated from operations.
Six Months Ended June
Revenues $1,698,000 $109,000
Operating Costs $1,169,000 $57,000
Gross Profit $529,000 $52,000
SG&A Expenses $1,023,000 $567,000
Other Income $1,836,000 $37,686,000
Dividend $3,000 $3,000
Net Income $1,339,000 $37,168,000
This positive chapter in Juniper Group's growth is occurring at the same time the wireless sector fundamentals are strong with the major telecommunication companies gearing up 4G, the next level of communication. New wind standards combining with new technologies have developers focused on the integrity of existing towers yielding increased infrastructure budgets for the vendors in the wireless industry. With its NATE certification in place the Company has developed a reputation in the industry for safety, quality and integrity.
The Company is currently exploring various resolutions to restructure certain debt instrument s previously issued to hedge funds that have proven to have a negative effect on the company's market capitalization. The focus is to free the balance sheet of these burdensome debt instruments.
Vlado P. Hreljanovic, President and CEO said, "We are very proud to have come this far with our client roster, and we continue our dedication to building a solid company with positive presence in the burgeoning wireless telecommunications sector. With the rapidly expanding opportunities in the market place, Juniper Group Inc. is seeing strong business trends in existing and new service areas. We believe that the wireless industry is at the precipice of a growth spurt over the next four to five years, and if management executes its plan, Juniper Group Inc. is positioned to see attractive revenue growth and reoccurring maintenance revenues."
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include, statements regarding the expected growth trend. All forward-looking statements in this press release are made as of the date of this press release, and Juniper assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the risk that our growth will not continue as anticipated and the factors discussed in the Business and Management's Discussion and Analysis sections in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov.
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SOURCE: Juniper Group, Inc.
CONTACT: CONTACT: Juniper Group, Inc.
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INDUSTRY KEYWORD: Telecom Equipment
SUBJECT CODE: EARNINGS
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