iDial Networks Announces Record Revenues of $27,161,034 in Third Quarter 2003
November 13, 2003 12:49:00 (ET)
THE WOODLANDS, Texas, Nov 13, 2003 (BUSINESS WIRE) -- iDial Networks, Inc. (IDNW, Trade) a leading provider of Latin American and SIP-Based Telecommunication Services for service providers and consumers worldwide, today announced financial results for the third quarter ended September 30, 2003.
Highlights of the Third Quarter 2003 Include:
-- Gross Revenues increased 39% to $27,161,034 in Q3 2003 as
compared to $19,500,401 in Q3 2002;
-- Completed the acquisition of GlobalNet, Inc., a leading
provider of Latin American Telecommunication Services; and
-- iDial was named Texas's twelfth fastest growing technology
company in Deloitte & Touche Fast 50 Program.
"Obviously the big news for Q3 2003 is the completion of the acquisition of GlobalNet, Inc.," said Mark T. Wood, iDial Networks Chairman and CEO. "After the acquisition of GlobalNet, iDial is now one of the largest wholesalers of international voice services to Latin America in the world."
"We believe that the combination of GlobalNet's larger carrier grade network, long standing Tier 1 carrier relationships and iDial's SIP-Based technologies technology will result in significant benefits to our investors as well as our customers. Key growth areas in telecom today are SIP-based voice over IP and services to Latin America. Management believes the company is extremely well positioned to be a leading provider of services in both areas."
The company will announce a conference call to discuss the Q3 2003 results next week.
About iDial Networks, Inc.:
iDial Networks, Inc., (
http://www.idialnetworks.com/), is an application service provider in leading communication technologies, provides a wide range of Voice over Internet Protocol (VoIP) services, Internet-activated applications and products that bring affordable telecommunications services to users around the globe. The company is building a next generation VoIP and TDM network based on carrier class technologies from Cisco Systems (CSCO, Trade) and Microsoft (MSFT, Trade).
GlobalNet, Inc., iDial's wholly-owned subsidiary, is one of the top ten U.S. service providers of outbound traffic to Latin America and counts among its customers more than 30 Tier 1 and Tier 2 carriers. GlobalNet provides international voice, data, fax and Internet services on a wholesale basis over a private IP network to international carriers and other communication service providers in the United States and internationally. GlobalNet's state-of-the-art IP network, utilizing the convergence of voice and data networking, offers customers economical pricing, global reach and an intelligent platform that guarantees fast delivery of value-added services and applications.
Safe Harbor for Forward-Looking Statements:
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Reform act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price, volatility, product demand, market competition, risk inherent in the Company's domestic and international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.
SOURCE: iDial Networks, Inc.
