Digital Broadband Networks Preannounces Revenue and Earnings Estimates for Third Quarter 2003
Tuesday October 28, 10:09 am ET
FLEMINGTON, N.J.--(BUSINESS WIRE)--Oct. 28, 2003--Digital Broadband Networks, Inc. (OTCBB:DBBD - News) www.dbni.net today announced that it anticipates revenues for the three months ended September 30, 2003 to be approximately $4.283 million, 49% higher than the corresponding period ended September 30, 2002. The increase in revenues for the third quarter of 2003 was primarily attributed to increase in fees earned from the production of multimedia programs and consulting services.
Gross profit increased by 256% from $189,303 for the three months ended September 30, 2002 to approximately $667,557 for the three months ended September 30, 2003.
Digital Broadband Networks, Inc. anticipates net income of $412,000 for the three months ended September 30, 2003, compared to a net income of $187,000 for the three months ended September 30, 2002.
Digital Broadband Networks, Inc. cautions that its anticipated results are preliminary, based on the best information currently available, and are subject to customary quarter-end adjustments.
About Digital Broadband Networks:
Digital Broadband Networks, Inc. and its subsidiaries are involved in application development, broadband network operation, delivery of value added applications and services; the sale of devices that utilize broadband networks and the sale of biometric security devices. The Company's principal operations include the development and operation of a wireless broadband network in Malaysia, the development of interactive, multimedia content for the Internet and the development licensing and/or sale of specific products and applications that utilize the capacities of a broadband network. These include the EyStar SmartHome Console, broadband modems, biometric systems and Internet-based cameras. For more information about the above products and services, please visit our websites, www.dbni.net and www.eystar.com.
Safe Harbor Statement:
Investors should carefully consider the preceding information, as well as other information contained herein before making an investment in the common stock of the Company. Information contained herein contains forward-looking statements and information that are based upon beliefs of, and information currently available to management, as well as estimates and assumptions made by management. Forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "is expected," "intends," "may," "will," "should," "anticipates," "plans" or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to vary materially from historical results or from any future results expressed or implied in such forward-looking statements. Digital Broadband Networks does not undertake to update, revise or correct any forward-looking statements.
L.G. Zangani, LLC provides financial public relations service to the Company, As such L.G. Zangani, LLC and/or its officers, agents and employees, receives remuneration for public relations and or other services in the form of moneys, capital stock in the Company, warrants or options to purchase capital in the Company.
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Contact:
Digital Broadband Networks, Inc.
Valerie Looi, 011 (603) 7955 4582
valerie.looi@dbni.net
or
L.G. Zangani, LLC
Leonardo Zangani, 908-788-9660
leonardo@zangani.com
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Source: Digital Broadband Networks, Inc.
