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
