TelePlus Connect Subsidiary to Bring in $112M in Revenue and $28M in EBITDA Over the Next 60 Months
MONTREAL -/1 Feb, 2005 - Wi-Fi Technology News/- TelePlus Enterprises, Inc. (OTCBB: TLPE), which owns and operates 39 TelePlus-branded stores in major shopping malls selling a variety of wireless and portable communication devices, announced that it has upgraded the Revenue and EBITDA targets expected to be achieved by its subsidiary, TelePlus Connect Corp., over the next 60 months. These revised targets are based on the January 26th press release announcing the acquisition of Telizon.
In a press release dated December 14, 2004, TelePlus announced that it expected TelePlus Connect to generate $60M in revenue and $16.1 million in EBITDA over the next 60 months. TelePlus has revised these estimates upwards and now expects TelePlus Connect to generate $112M in revenue and $28M in EBITDA over the next 60 months. These figures do not include any revenues the company is currently generating from other divisions.
The primary catalyst for the re-statement is the result of the transaction announced with Telizon, a reseller of landline and long distance services as well as an internet service provider. Following the Closing of the transaction, Telizon will be rolled into TelePlus Connect, thereby immediately bringing TelePlus Connect's annual revenues to $14.5M and EBITDA to $1.9M. The transaction with Telizon is set to close no later than 150 days from this release and is subject to TelePlus obtaining financing. Those discussions are currently underway.
Marius Silvasan, TelePlus Enterprises CEO, stated, "TelePlus Connect's development has exceeded our original expectations. We felt it was important to communicate the upgraded revenue and EBITDA targets to shareholders in order to demonstrate that our business model is being executed and that we continue to make strategic acquisitions in order to strengthen and expand our network."
(1USD = 1.25CDN)
This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com and view the TelePlus Investor Relations Hub. Alternatively, investors are asked to e-mail all questions and correspondence to TLPE@agoracom.com, where they can also request addition to the TelePlus investor e-mail list to receive all future press releases and updates directly.
About TelePlus -- http://www.teleplus.ca
TelePlus Enterprises, Inc. ("TelePlus"), through a subsidiary, owns and operates 39 TelePlus-branded stores in major shopping malls selling a variety of wireless and portable communication devices. The company's product lines include wireless handsets and services from major Canadian carriers, international phones, satellites, home phones and other mobile electronic devices including an exclusive line of international GSM world phones. TelePlus, through a U.S. wholly owned subsidiary, TelePlus Wireless, Corp., operates a virtual wireless network selling its branded wireless products to distributors in select U.S. cities.
About Telizon Inc.
Telizon Inc, headquartered in Ontario, Canada, is a reseller of landline and long distance services as well as an internet service provider. Telizon currently services over 18,000 commercial and residential lines in the Ontario area.
TelePlus Entreprises, Inc. is a featured Company on www.InvestingInWireless.com
|
