This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ERF Wireless Reports 2012 Annual Results Reflecting A 38% Increase In Revenues And An 84% Increase In Gross Profits

LEAGUE CITY, Texas, April 1, 2013 (GLOBE NEWSWIRE) -- ERF Wireless Inc. (OTCBB:ERFB), a leading provider of enterprise-class wireless and broadband products and services, announced today that the Company filed its Form 10-K with the Securities and Exchange Commission reporting results for the year ended December 31, 2012.

The Company's revenues and gross profits improved significantly in 2012 as compared to the prior fiscal year ended December 31, 2011.   Such improvements are highlighted as follows:

  • The Company reported revenues of $7,328,000 for the year ended December 31, 2012, as compared to revenues of $5,320,000 for the same prior year ended December 31, 2011; an increase of $2,008,000 or 38%.
  • The Company reported gross profit of $3,353,000 for the year ended December 31, 2012, compared to $1,818,000 for the same prior year period ended December 31, 2011, an increase of $1,535,000 or 84%. This increase reflects the strong operating margins recognized in our oil and gas Internet service operations. 
  • The Company reported total comprehensive loss of $4,821,000 for the year ended December 31, 2012, as compared to a total comprehensive loss of $3,404,000 for the same prior year ended December 31, 2011; an increase of $1,417,000 or 42%.
  • The Company's Energy Broadband Inc. subsidiary reported revenues of $4,642,000 for the year ended December 31, 2012, as compared to revenues of $2,713,000 for the same prior year ended December 31, 2011; an increase of $1,929,000 or 71%.
  • The Company reported an increase of $1,439,000 or 26% increase in operating expenses in the year ended December 31, 2012, as compared to the same prior year ended December 31, 2011. The increase is primarily related to employment and professional expense.
  • The Company's net cash used for 2012 and 2011 was $1,439,000 and $2,822,000, respectively, or an improvement of $1,282,000. For the three quarters ended September 30, 2012, the Company used operational cash of $1,400,000 and a total of only $39,000 in the fourth quarter of 2012.
  • Lastly, the Company invested $1,453,000 in cash during the year ended December 31, 2012, primarily for the purchase of assets in its Energy Broadband subsidiary for the continued expansion of networks and infrastructure, including increasing its Mobile Broadband Tower, ("MBT") fleet associated with the increased oil and gas business growth being experienced.

Richard Royall, CFO of ERF Wireless, commented, "During 2012, we experienced continued major improvement in our Energy Broadband subsidiary's business in the oil and gas sector which positively impacted the Company's overall results as Energy Broadband delivered reliable, cost-effective high- speed bandwidth to an industry that has traditionally been served by low bandwidth VSAT providers only."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs