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TEK
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Investor Relations: |
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Flora Wood/Phil Williams |
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Alphus Inc. |
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1-888-393-4979 or 416-323-3888 |
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TEK DigiTel Announces Year End
2000 Operating Results
Revenue Increases 315% Over Previous Year to $890,260
GERMANTOWN, MD - April 02, 2001 TEK DigiTel (OTC Bulletin Board: TEKI - news) today announced that revenues for the year ended December 31, 2000 totaled $890,260, representing a 315% increase over fiscal 1999 revenues of $214,399, which included $150,000 of non-product sales. Net loss for the year increased to $3,447,005 from a net loss of $2,162,088 a year ago or to a $(0.16) per share loss versus $(0.14) per share respectively. Fiscal year 2000 was the company's first full year out of the development stage. Most of the year was devoted to securing initial direct sales and sales partnerships, continued product development and enhancement, and establishing outsourced manufacturing contracts to achieve targeted volume production.
``These results represent a good first step for the company. In addition to growing revenues significantly we have attracted partnerships, developed a broader product offering and secured the manufacturing capacity to maintain strong sales growth as we strive toward our goal of profitability,'' commented Enghe Chimood, TEK's CEO. ``Our team is very excited about the company's potential in 2001. We intend to increase market share and our geographical reach as demand for IP telephony begins to reflect the growth our customers have projected in South America and the Asia Pacific Rim.''
As announced previously, TEK recently entered into an expanded MOU with its strategic partner Arelnet Ltd. The terms of this MOU include TEK de
livering an initial shipment of 2000 iPRO and iGATE units in March 2001 and for TEK to receive additional orders from Arelnet over the next three years.
For a more detailed description of the company's business and our 2000 financial statements, see our annual report on Form 10-KSB, which was filed with the SEC. The document is available on-line through the SEC's website at http://www.sec.gov or http://www.freeedgar.com.
About TEK DigiTel Corporation (http://www.tekdigitel.com)
Based in Germantown, Maryland, TEK DigiTel Corporation delivers integrated CPE (Customer Premise Equipment) communications solutions optimized for use in SOHO, small- and medium-sized businesses. Working with Service Providers and OEM partners, TEK is focused on integrating fax- and Voice-over-IP (VoIP) technologies with conventional PBX systems and data routing devices to create a low-cost, easy-to-use Internet communications hub. Founded in 1998, TEK is headed by a management team with extensive related experience gained at leading manufacturers and service providers including IBM, Data General, Hughes, Orbital Communications, Bell Atlantic, and GTE.
Statements made in this press release that are not historical or current facts are ``forward-looking statements'' made pursuant to the safe harbor provisions of the Federal Securities Laws. Forward-looking statements represent management's best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected.