Thanks Mary, for the welcome, it's good to be here, I have read the board for awhile, but first time posting today.....here is the idnw news that came out today, look at the %! Annie
iDial Networks, Inc. Announces First Quarter 2001 Results
iDial Attains Positive EBITDA and a 1,154% Increase in Gross Profit for the Quarter
DALLAS--(BUSINESS WIRE)--May 16, 2001--iDial Networks, Inc. (OTCBB:IDNW - news) today announced record revenues of $1,937,698 for the first quarter ended March 31, 2001, a growth of 418% from $373,866 for the comparable period in 2000 and a sequential revenue growth of 110% from $923,521 thousand over record forth quarter 2000 revenues. EBITDA for the first quarter 2001 was a positive $52,328 or 2.7% compared to a loss of $(237,852) or (63.6%) in the first quarter 2000.
``Towards the end of 2000 the Company began to focus on becoming EBITDA positive in the second quarter of this year. I pleased to announce that we have exceeded our goal by a quarter,'' said Mark T. Wood, Chairman and CEO. ``We have taken numerous steps to impact EBITDA, which include reductions in SG&A, the addition of new product offerings and opening new sales channel through new agent programs and are beginning to realize these results in our operations.'' The Company reported a gross profit of $532,346 and gross margin percentage of 27.5% for first quarter 2001, as compared to a gross profit of $42,465 and a gross margin percentage of 11.4% in first quarter 2000. This represents a 1,154% increase in gross profit and a 141% increase in the Company's gross margin percentage compared to the first quarter 2000. Carl Battie, Vice-Chairman of the Board commented, ``Achieving a 1,154% increase in gross profit and positive EBITDA is the result of our successful focus on integrating our operations to realize efficiencies and create economies of scale. We believe we can continue to improve EBITDA through further systems integration and strong management.'' iDial Networks, Inc. reported a comprehensive loss for first quarter 2001 of ($597,159), or ($0.01) per share including the inclusion of $641,749 of non-cash depreciation charges of network equipment and amortization charges relating to the merger and acquisition of Whoofnet.Com and 2Sendit.Com. About Dial iDial Networks, Inc., www.idialnetworks.com, an application service provider in leading communication technologies, provides a wide range of Voice over Internet Protocol (VoIP) services, Internet-activated applications and products that bring affordable telecommunications services to users around the globe. The company is building a next generation VoIP and TDM network based on carrier class technologies from Cisco Systems (NASDAQ:CSCO - news) and Microsoft Corporation (NASDAQ:MSFT - news).
iDial Networks, Inc. is actively seeking to diversify and grow its operations internally and through selective, well-structured acquisitions. The Company will continue on its path of growing internally and acquiring profitable businesses and service providers that compliment iDial Networks diversified geographical, product and retail/wholesale composition.
Safe Harbor Statement
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Reform act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price, volatility, product demand, market competition, risk inherent in the Company's domestic and international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.
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Contact:
iDial Networks, Inc
Investor Relations, 954/351-9860
investors@whoofmail.com