SHENZHEN, China -- (5/12/05) --Global National Communications Corporation (OTCBB:GLNC) is pleased to announce it has finalized its agreement to acquire technology rights from Shenzhen Teltone Technology Co. Global will manufacture and sell Teltone's T100, T100A, T120, T128, T23, T26, T30, T66, and T88 model phones.
"The manufacturing of these model phones is expected to generate a significant increase in our sales revenue," says Mr. Wang Hanqing, President and CEO of Global. "Teltone's name brand is well recognized in the Chinese market and we are excited about the promising introduction of a new line of phones featuring cutting edge location technology."
About Teltone's T100, T110A and T120 children/senior phones
The location technology was designed to allow families to quickly find a missing member. Extremely valuable in cases of a child or senior being lost, injured or kidnapped. The PHS models equipped with the new technology include the T100, T100A and T120. The company will be the first to offer this technology anywhere in the world. Recent test marketing through China Telecom of the children/senior phones was met with huge success. China Telecom (NYSE:CHA) and Netcom operators, who control cell phone distribution in China, will act as the sales agents for the new location technology.
About the PHS cellular market in China
The growth of this industry is supported by the largest telecoms in China: China Telecom and Netcom, and U.S based company UTStarcom (Nasdaq:UTSI). The Minister of Information Industry of China estimates the PHS handsets (cell phone users) to grow from 65 million new users in 2004 to 82 million new users in 2005 and increase to 91 million new users by 2006.
Global National Communications Corporation Predicts 400% Increase in Revenue for 12 Mths from 6/2005
SHENZHEN, China, Jun 03, 2005 (BUSINESS WIRE) -- Global National Communications Corporation ( OTCBB:GLNC) is pleased to inform shareholders that company sales revenue is projected to increase approximately 400 per cent from the previous 12-month period to $80 million. The rapid sales growth is expected in three business sectors: OEM, Personal Handyphone System (PHS) cellular phones and digital satellite receivers. "Our revenue in the OEM area has increased 30 per cent each year for the past five years," says Mr. Wang Hanqing, President and CEO of GLNC. "With the recent upgrades in our OEM business, we are expecting a 45 per cent increase in this area in the year ahead."
With the recent launch of GLNC's brand name PHS cellular phones, the company is beginning to realize significant revenue increases in this area as well. "It is our expectation that 50 per cent of the company's revenue in the next 12 months will be generated in the PHS area," says Hanqing.
The Ministry of China's Information Industry estimates use of PHS cellular phones to increase from 65 million new users in 2004 to 82 new million users in 2005 and to 91 million new users by 2006.
In addition, in an effort to maximize on the recent transition in China from analog to digital television, GLNC continues to conduct research and development in digital satellite receivers. "Sales of our satellite receivers are underway and we are confident the company will see a significant increase in this area in the near future," says Hanqing. "The market is poised to take off."
There are an estimated 340 million analog television sets in China, according to the government's national channel, China Central TV. The majority of these 340 million analog television sets require a digital receiver system to be installed. The State Administration of Radio, Film and Television expect that by 2008, 200 million households will have completed the conversion to digital reception from analog.
I had some doubt about their revenue projection when I saw their Q1 numbers. After I did more research on their previous announcements, now I am comfortable with their projection. Please note, they are projecting the next 12 months starting from June 2005.
The company mentioned the backlog for their own phones is $44 million, this was revealed in one of their previous releases announced in 02/2005 (these phones will start to ship starting March):
"The company also anticipates that the previously announced PHS contracts, totaling approximately $44 million, will begin to impact the financial results of the company over the next 90 days. The company is forecasting gross sales of $60 million U.S. for the year starting March 2005."
Secondly, they acquired the technology and manfacturing rights on Teltone phones, as stated above, Teltone could add $45 million potential. So their guidance of $80 million for this year is not quite off the mark.
The company achieved $7.8 million revenue for April-June quarter, which is 114% higher than $3.87 mil for Jan-Mar quarter. Assume the revenue grows 40% quarter to quarter for the next four quarters, the revenue for the next four quarters could be in the range of: $10.94 mil, $15.28, $21.4, $29.96 mil = $77.58 million.
Global National Communications Corporation Reports Third Quarter Sales Revenue of $7,840,494 U.S.
SHENZHEN, China, Aug 24, 2005 (BUSINESS WIRE) -- Global National Communications Corporation (OTCBB:GLNC) announced $7,840,494 U.S. in net sales for the fiscal quarter April to June, 2005. Total net sales for the first nine months of the year are up 17 percent from the same time period in 2004 and sit at $17,734,090. Gross profit increased 44 percent from the third quarter of 2004 to $1,951,214. Total gross profit for the first nine months of the year is up 45 per cent to $3,897,111.
Gross margins increased 7 percent from the third quarter of 2004 to 25 percent. Total gross margins for the first nine months of the year are up 4 per cent from last year to 22 percent.
Net income for the third quarter resulted in a loss of $2,355,665. The loss was a direct result of an April financing to provide working capital to GLNC. Without the one-time charge associated with the financing, GLNC would have realized a profit of $744,015.
The company attributes its success in increasing gross profit and margins to its decision to focus on the production of higher profit products such as computer parts and Personal Handy System (PHS) mobile phones. The next quarter will bring a shift in focus to increasing sales of these products.
About the PHS cellular market in China
The growth of this industry is supported by the largest telecoms in China: China Telecom and Netcom, and U.S. based company UTStarcom (Nasdaq:UTSI). The Minister of Information Industry of China estimates the PHS handsets (cell phone users) to grow from 65 million new users in 2004 to 82 million new users in 2005 and increase to 91 million new users by 2006.
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