net berauschend, aber besser als in 2003 !!
Fonix Announces 2004 Results -- Addition of Telecom Subsidiary Drives Revenues to $15M; Speech Applications Continue to Gain Traction across Multiple Markets
SALT LAKE CITY, Mar 30, 2005 (BUSINESS WIRE) -- Fonix Corp. (OTCBB: FNIX), an
integrated communications carrier providing telecommunications services and
value-added speech technologies, today released financial results for the year
ended Dec. 31, 2004.
Telecommunications operations included in the financial report are for the
10-month period beginning with the acquisition of LecStar Telecom Inc.,
effective March 1, 2004, and operations for The Fonix Speech Group are for the
entire calendar year ended Dec. 31, 2004.
Fonix revenues were $14,902,000 for the year ended Dec. 31, 2004 compared to
$2,384,000 in 2003. Operating expenses were $22,106,000, of which $13,051,000
was cash used in operating activities. Net loss was $15,148,000 ($0.21 per
common share) in 2004 compared to a net loss of $13,543,000 ($0.50 per common
share) in 2003.
Consolidated pro forma Fonix revenue, including LecStar revenue as if for the
entire calendar year ended Dec. 31, 2004, was $18,006,000 compared to
$18,243,000 for the 12-month period ended Dec. 31, 2003. Pro forma net loss was
$16,648,000 ($0.18 per common share) compared to $22,323,000 ($0.70 per common
share) in 2003.
"The addition of the telecommunications operations to our company has enabled us
to create a diverse, steadily growing revenue base, even as we continue to
pursue high-growth opportunities via our speech technologies," said Thomas A.
Murdock, Fonix chairman and CEO. "Our 2004 results reflect the soundness of this
business strategy, and we believe it lays a foundation to expand positive growth
trends in 2005. In the year ahead, we expect to be able to capitalize on
regulatory changes affecting our two telecommunications subsidiaries, LecStar
Telecom Inc. and Fonix Telecom Inc. We also look forward to delivering VoIP,
telecommunications services via Broadband over Power Lines, and other
next-generation telecommunications services to business and residential
customers. The Fonix Speech Group continues to create value and offer new speech
solutions in videogames, mobile and wireless devices and embedded speech
interfaces on semiconductor chips."
"Our strategy over the past year has been to focus on both organic and acquired
growth in order to increase efficiency, better manage our costs and deliver new
revenue from a variety of sources on both the telecom and speech sides of the
business," said Roger D. Dudley, Fonix executive VP and CFO. "We are pleased
with growth in our speech group's market position in videogames, speech
applications for mobile and wireless devices, and the potential explosive growth
in electronic dictionaries powered by Fonix speech solutions in the Asian
markets. During 2004, we significantly reduced and streamlined operations in the
speech group to more effectively match operating expenses to our expected
revenue growth."
2004 Company Highlights:
-- Fonix acquired LTEL Holdings Corp. and its two wholly owned operating
subsidiaries, LecStar Telecom Inc., an Atlanta-based competitive local exchange
carrier, and its sister company, LecStar Datanet Inc., a provider of Internet
services to business and residential customers.
-- Fonix signed a definitive agreement to acquire Empire One Telecommunications
Inc., a privately held company based in Brooklyn, N.Y., which provides
facility-based local and long distance phone services and Internet services to
business and residential customers.
-- Through its telecom subsidiary, Fonix Telecom Inc., Fonix introduced its
Voice over Internet Protocol (VoIP) product for small to medium-sized business
customers in the southeastern United States.
-- Fonix's telecom subsidiary entered into and completed installation and
testing of a new Broadband over Power Lines (BPL) service with Duke Power to
provide customers with high-speed Internet and voice services over existing
power lines in their homes or businesses.
-- The Fonix Speech Group reduced operating expenses by 40 percent.
-- Fonix reduced payroll liability by $5,308,000 (from $6,964,000 at Dec. 31,
2003 to $1,656,000 at Dec. 31, 2004).
-- The Fonix Speech Group offered Fonix DECtalk(R) text-to-speech (TTS)
technology to manufacturers of electronic dictionaries and translation devices
designed to teach English as a second language. Major Asian manufacturers begin
working to include the speech solution on upcoming devices in the handheld
dictionary market.
-- The Fonix Speech Group continues to penetrate the videogame development
market with its award-winning Fonix VoiceIn speech interface for Xbox(R),
PlayStation(R)2, PC and Mac videogames. Ubisoft, an international publisher of
interactive entertainment products, released Tom Clancy's Ghost Recon(TM) 2,
which is the first PlayStation(R)2 game to feature Fonix VoiceIn.
-- The Fonix Speech Group released an upgraded version of its award-winning
Fonix VoiceDial(TM) 2.0, the most intuitive, user-friendly speech interface
software solution for Pocket PC Phone Edition and Smartphone devices. VoiceDial
is available in multiple languages including English, German, French and
Spanish.
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