EXTRACT FROM
ASX Announcement: WAL 3:39 PM !
Receives $1Million of Orders for Wireless Modems
WAL has received orders totalling $1M for
wireless modems from 3 US companies.
The WAL product is the only solution in the US
to use a multi-mode system that automatically switches between land-based
wireless and satellite communications networks which ensures maximum
coverage and more cost efficient communications as the device decides which
network is best used at any point in time based on operational data costs
and coverage.
Deliveries of the BM3 DataTAC will commence in
April and will continue monthly through to August. Further orders of similar
size are expected during the year to meet demand beyond this initial
period.
Additionally Wavenet has been working with a
laptop manufacturer to integrate its BM3 Mobitex modem into their
product.
We now have a backlog of $3.4M for modems and
good prospects for additional orders going foward. More importantly
for us though is the quality of customers now being signed up. These
customers have volume and consistent demand for our technology going
forward.
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.
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?)
See IRG research reports
