The annual results also included a Gross Profit improvement for ERF Wireless of 84% for the year 2012 as compared to the prior year 2011, with Gross Profit Margins increasing to 46% for the year 2012 from 34% for the prior year 2011. The annual results for prior year 2011 also included a one-time gain of $1,183,000 associated with the divestiture of certain non-core wireless broadband assets and operations.Primary and fully-diluted net loss per share for the year ended December 31, 2012, was ($1.39). Primary and fully-diluted net loss per share for the year ended December 31, 2011, was ($2.47).
- The Company welcomed experienced CEO, CFO and Director, Bruce Lancaster as an independent Director and Chairman of the Audit Committee to its Board of Directors.
- The Company appointed Tim Maxson to succeed Tom Wiedebush as Chief Operating Officer.
- The Company welcomed veteran oil and gas executive, Manny Carter to its Board of Directors.
- The Company completed building its high-speed wireless broadband network in the Eagle Ford Shale region of South Texas. This network covers major oil and gas drilling and production areas that extend southwest from Yoakum, Texas, to an area near Cotulla, Texas.
- The Company also completed network expansions and established three separate new network regions in the Permian Basin of West Texas in areas west and south of the Midland-Odessa area.
- The Company announced that it is providing terrestrial wireless communications services in the Wattenberg Field of the Niobrara Basin north of Denver, Colorado.