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
