Forum Archive Index - March 2004

["Cristine Kerr" <criskerr@optusnet.com.au>]

Wavenet have just released their half-year report and it's MORE good news.

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Half-year Report released Friday 27Feb, 6.42pm

 

All great news:

 

Revenue UP 790% - $2,370,000 ($266,253 previous corresponding period) (NB $2,370,000 includes $1.4m grant which means revenue excluding grant was still up around 375%)

Cash Outflows DOWN 81% - $227,503 ($1,180,585 corresponding period)

Net Loss DOWN 47% - $653,000

Cash Balance UP 25% - $1,411,550

Current Liabilities: $872,797

Total Net Assets: $1,435,063

Events subsequent: As at 27 Feb - new agreements and backlog of sales orders totalling $2.4M with deliveries scheduled before end June 2004 (SUPPLEMENTARY INFO - notices since 31 Dec03 follow)

 

The Board believes additional contracts will be secured during the coming months fulfilling a major strategic goal of diversifying its customer base and establishing a more consistent revenue stream going forward. Within the next 12 mths, the Directors expect that Wavenet will become the major supplier of this wireless technology into the Northern American market place.

 

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SUPPLEMENTARY INFO:

 

9.2.04

Keycorp places more orders (2500) for wireless modems (total now over 4500)

 

 

 

9.2.04

Signs Global Wireless Data LLC as major reseller for US

 

 

25.2.04

WAL - Wavenet

 

Wavenet International Limited has just received their first order from Lipman Electronic Engineering Ltd (US).

 

Wavenet's BM3 wireless modems will be integrated into Lipman's EFT (Electronic funds transfer) and POS (point of sale) solutions which will enable users to conduct debit and credit transactions in a mobile environment over worldwide networks.

 

This initial order for Wavenet's BM3, which is anticipated to be the first of repeat quarterly orders from Lipman, is valued at $500K.

 

Lipman has subsidiaries in the US, China, Turkey, Far East, Latin America, Spain, Russia, Italy, Canada, and Latin America.

 

Wavenet is evidencing growth in demand for wireless point-of-sale terminals. They are seeing a trend in the US towards cashless transactions and mobile commerce which are ideally suited to their technology.

 

Wavenet expects to see more groups making decisions to move from trials to mass deployments over the next few months.

 

The technology for this niche product was developed by Wavenet under an AusIndustry R&D Start Grant and Wavenet continues to conduct R&D into more adaptable wireless architectures capable of working over a number of networks.

 

 

26.2.04

WAL - Wavenet Signs Supply Agreement with Cingular Interactive for Mobitex Wireless Modules - Initial Order Worth $1.2M - ASX Announcement at 12.15pm today

 

' ... Cingular's Mobitex network is in the US leading data-only network and provides extensive coverage, high reliability and low latency in more than 492 markets, covering 93% of the urban business population in the US. ... '

 

The deal is based on Wavenet's BM3 wireless module which is destined to become the company's flagship product. It is the most advanced of its kind in terms of power efficiency, performance and ability to run applications. BM3 was developed to target numerous growth markets in automoatic vehicle location, mobile point of sale, security, and cashless vending.

 

BM3 is an important part of Wavenet's strategy to become the largest supplier of this technology into the US.

 

 

NB Total Shares Issued - 28,885,005 (Does it get any better than this?)