ERF Wireless, a leader in providing enterprise-class wireless broadband products and services, announced it will host a shareholder conference call and live Web cast on Wednesday, May 23 at 3:30 p.m. Central. The Web cast, which will include a senior management presentation followed by a Q&A period, is expected to last approximately one hour. During the Q&A, ERF Wireless shareholders and investors will be able to ask questions about any subject, including the company’s recently filed 10-K Annual Report for 2011 and the 10-Q First Quarter Report for 2012 that will have been filed before the start of the Web cast.
ERF Wireless’ senior management team will discuss the considerable growth of the company’s oil and gas subsidiary, Energy Broadband. Also included in the Web cast will be updates about the company’s other operating divisions, including its WISP operations and ongoing initiatives in the banking, educational, and healthcare markets. Management will additionally outline ERF Wireless’ strategy for obtaining a national exchange listing later this year.
As reported in its Form 10-K, filed with the Securities and Exchange Commission in March, the financial condition of ERF Wireless improved greatly in 2011 as compared with the company’s previous fiscal year ended Dec. 31, 2010. This is indicative of the company’s continued progress toward its goals of profitability and obtaining a national marketing listing this year.
ERF Wireless reported 2011 revenues of $5,320,000 – a 43% increase from the previous year’s revenues of $3,708,000. Total comprehensive loss reported by the company was $3,404,000 for 2011 – a 60% improvement over the previous year’s losses of $8,511,000. The company’s Energy Broadband subsidiary reported 2011 revenues of $2,713,000 – an increase of 196% over the previous year’s revenues of $916,000.
ERF Wireless’ operating expenses for 2011 declined by 28% over the previous year, and the company’s liquidity position improved by $2,819,000 – including a $1,228,000 increase in current assets and a $1,591,000 decrease in current liabilities. The company invested $2,114,000 in cash during 2011, chiefly for the purchase of assets in its Energy Broadband subsidiary. ERF Wireless’ annual results also included a gross profit improvement of 119% as compared with the previous year.
Investors in the U.S. and Canada may use the following phone number to participate in the upcoming conference call: (877) 407-9210. International parties may dial (201) 689-8049. The live Web cast will be available via a link on the ERF Wireless Web site, www.erfwireless.com; a PowerPoint presentation will be included. Shareholders and investors not available to participate in the live call or Web cast may view a replay on the company Web site following the conference call. Submit questions by e-mail to questions@erfwireless.com or by fax to (281) 538-2121, attention: Clareen O’Quinn.
ERF Wireless is a fully reporting public corporation and the parent company of Energy Broadband, ERF Enterprise Network Services, ERF Wireless Bundled Services, ERF Wireless Messaging Services, and ERF Network Operations. Located in League City, Texas, the company provides wireless and broadband product and service solutions for enterprise, commercial, and residential clients across the globe. The company’s principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV, and content delivery business for more than four decades.
For more information, visit www.erfwireless.com
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