4/4/2005 - TelePlus Enterprises, Inc. (OTCBB: TLPE), a vertically integrated provider of wireless and landline communications products and services across North America, is pleased to announce its results for the 4th quarter and Full year ended December 31st, 2004. Sales for the 4th quarter increased by $1,239,508 (or 33%) to $3,996,467 as compared to $2,756,959 for the same period a year ago. The Company had a positive EBITDA of $7,228 and net loss of $40,407 (prior to financing costs, one-time non-recurring expenses and increase in other non-cash expenses) for the 4th quarter as compared to a positive EBITDA of $100,879 and a profit of $53,248 (before a one time tax recovery) for the same period a year ago. Average store sales were unchanged in the 4th quarter of 2004 versus the same period a year ago.
Sales revenues for the full year ended December 31st, 2004 increased by $4,528,526 (or 59%) to $12,180,501 as compared to $7,651,975 for the same period a year ago. Gross profit as a percentage of sales was unchanged at 27% for the full year as compared to the same period a year ago. The Company had a negative EBITDA of $677,295 and net loss of $710,490 (prior to financing costs, one-time non-recurring expenses and increase in other non-cash expenses) for the full year ended December 31, 2004, as compared to a negative EBITDA of $577,231 and net loss of $711,671 (before a one time tax recovery) for the same period a year ago. The Company's EBITDA loss as a percentage of sales decreased to 5.5% from 7.5% a year ago. Average store sales increased by 12% for the full year ended December 31st, 2004 versus the same period a year ago.
Robert Krebs, CFO commented, "We are pleased with the 4th quarter and full year results. During the year we increased by 17 (an increase of 77%) the number of TelePlus stores and during the 4th quarter we launched TelePlus Wireless in the U.S. and announced the launch of our landline and long distance including internet resell business with the pending acquisitions of Keda Consulting (renamed TelePlus Connect Corp.) and Freedom Phone Lines."
"We also continue to make inroads with respect to expenses as our EBITDA losses decreased by 27% as a percentage of sales in 2004 versus 2003. 2005 promises to be exciting as we anticipate to leap-frog our original business plan by 18 months with the pending acquisitions of Keda, Freedom and Telizon which, if completed, would increase our revenues to $30M and earnings before depreciation, amortization and taxes well in excess of $1M per annum," added Mr. Krebs.
TelePlus Enterprises, Inc. ("TelePlus") is a vertically integrated provider of wireless and landline products and services across North America. The Company's retail division -- TelePlus Retail Services, Inc. -- owns and operates a national chain of TelePlus branded stores in major shopping malls, selling a comprehensive line of wireless and portable communication devices. TelePlus Wireless, Corp. operates a virtual wireless network selling cellular network access to distributors in the United States. TelePlus Connect, Corp. is a reseller of landline and long distance services including internet services.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing a technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.
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