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ICOA - nice revenues...should move up from here...ICOA Reports Q2 Revenues Up 140%

July 15, 2004 09:00:00 (ET)


WARWICK, R.I., Jul 15, 2004 /PRNewswire-FirstCall via COMTEX/ -- ICOA, Inc. (OTC Bulletin Board: ICOA), a provider of wireless broadband Internet access solutions to the airport, marina and quick service restaurant verticals, today announced second-quarter revenue of $338,389, up 140% over the first quarter and 607% year to date versus the six months ended June 30, 2003.

"This was a pivotal quarter for ICOA and I am extremely pleased to report our strongest financial and execution results to date," said George Strouthopoulos. "We expanded our network operations into over 410 locations, closed another key acquisition, continued cleaning up our balance sheet, reduced old debt, built the foundation of our emerging new management team, and recorded the company's best ever operating revenue."

About ICOA, Inc.

ICOA, Inc., (ICOA, Trade) located in Warwick, RI, is a provider of neutral host wireless and wired broadband Internet networks in public locations. ICOA, Inc. provides design, installation, operations, maintenance and management of neutral, common-use 802.11x standard WLAN Wi-Fi Hot Spot and Hot Zone infrastructure throughout airport facilities, Quick Service Restaurants, Marinas and Hospitality locations, as well as High Speed Internet Terminals (WebCenter3000(TM)). ICOA currently operates or manages over 410 installations, including 300 Panera Bread locations, the San Francisco International Airport (SFO), Spokane International Airport (GEG), the Greater Baton Rouge, Louisiana Airport (BTR), Sacramento International Airport (SMF), Manchester Airport (MHT), Savannah/Hilton Head International Airport (SAV), Fresno-Yosemite International Airport (FYI), 32 Marinas in California and Rhode Island's Newport Harbor 'Hot Zone'. For additional information, please visit http://www.icoacorp.com.

'Safe Harbor'

The foregoing contains "forward-looking statements" which are based on management's beliefs as well as on a number of assumptions concerning future events and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside ICOA's control that could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please see ICOA's filings with the Securities and Exchange Commission. ICOA disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of ICOA.

SOURCE ICOA, Inc.


John K. Balbach of ICOA, Inc, +1-415.999.1468,
[e-mail]

http://www.icoacorp.com

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