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Quamtel, Inc. Announces Preliminary Results for the Six Month Period Ended June 30, 2012(July 17, 2012)
DALLAS, July 17, 2012 (GLOBE NEWSWIRE) -- Quamtel Inc. (OTCBB:QUMI), today announced preliminary information relating to the six month period ending June 30, 2012.
Stuart Ehrlich, Quamtel's Chief Executive Officer, commented, "We believe our performance through the period has set the stage for future growth through increased online sales, wireless store distribution, affiliate network growth and strong product demand."
For the six month period ended June 30, 2012, revenue rose approximately 46%, to $1,227,465, an increase of $387,091, versus $840,374 for the comparable six month period of 2011. The increase in revenue was primarily attributable to revenue growth from our DataJack, Inc. subsidiary.
First quarter revenues were $622,817 versus $436,372 for the comparable period last year, an increase of $186,445. Second quarter revenues were $604,648 versus $404,002 for the comparable period last year, an increase of $200,646.
"While the domestic and world economies appear to be in a state of financial limbo, the consumer appetite for mobile broadband Internet access continues to remain strong and seems to be continuing to expand. We are pleased to be in the center of that market sector and that our revenue growth reflects the strong demand from our DataJack, Inc. subsidiary," continued Mr. Ehrlich. "We are pleased to have delivered strong growth in our first six months of 2012, and plan to continue to implement our strategic initiatives towards continued revenue growth, extending market share, and growing retail and online distribution channels, with a focused goal towards sustainable profitability."
About: - DataJack Inc., a subsidiary of Quamtel, Inc., is a provider of prepaid mobile broadband Internet access offering data coverage to 280 million people. DataJack provides high-speed, affordable Internet on the go to consumers using a PC, MAC, or any WIFI enabled device such as an iPad, tablet, smartphone or netbook. Consumers can purchase a DataJack MIFI Mobile Hotspot which can connect up to 5 WiFi-enabled devices simultaneously or they can purchase a DataJack USB modem which allows a single connection to most PC and MAC computers. For more information or to sign up, please visit www.Datajack.com.
Access to the internet is a prerequisite and will drive substantial future growth
Mobile broadband subscriptions have grown around 60 percent year-on-year to 1.1 billion.
Mobile broadband subscriptions are predicted to reach 5 billion in 2017
Connect with Quamtel on Facebook at www.facebook.com/Quamtel
Safe Harbor: Statements about the Company's future expectations and all other statements in this press release other than historical facts, are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words 'anticipate,' 'estimate,' 'expect,' 'intend,' 'plans,' 'projects,' and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
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