NORCROSS, GA--(Marketwire - August 13, 2007) - O2 Secure Wireless, Inc.a premier wireless internet service provider for high-density residential communities, today announced results for the third quarter ended June 30, 2007.
For the third quarter of 2007, the company reported total net sales of $112,456, an increase of 169% compared with $66,518 in the third quarter of 2006. Net loss for the quarter was $166,905, or $0.006 per share, compared to a net loss of $185,273, or $0.007 per share, in the third quarter of 2006. The increase in income as compared to the prior year reflects a continued focus on higher margin network engagements, sales of the recently launched REACTOR mobile internet product, as well as an increased number of properties serviced by O2 Secure Wireless.
"We are extraordinarily pleased with the sharp increase in revenues on the quarter and the continued growth of our net sales as a whole. Our main goals for the remainder of the year include continued focus on revenue growth while also reducing our expense structure in order to reach our strategic goal of profitability prior to the end of 2007," said Craig C. Sellars, President and CEO of O2 Secure Wireless. "Our revised business model of securing long-term fixed revenue contracts with REITs has been well received within our marketplace, and has provided the company with a solid financial foundation to pursue additional higher margin engagements. The management team and employees are committed to reaching the goals set forth for 2007, and the company is well positioned to continue its record of continued revenue growth." more...
