Webtech Wireless Provides Update on Q1 2015 Revenue
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 9, 2015) - Webtech Wireless Inc. (WEW.TO), a leading provider of GPS fleet management solutions, today announced that it expects to report revenues of approximately $8.0 million for the first quarter of 2015 based on preliminary unaudited financial results.
The Company's final determination of revenue for the period is subject to finalizing Webtech Wireless' first quarter financial results, including confirmation of revenue recognized for the quarter. Though the Company does experience quarterly fluctuations in revenue, estimated revenues for the three month period have increased over the prior comparable quarter of $6.7 million. The year over year variance is largely the result of government solution sales and implementations during the period, as well as new solution purchases from an existing enterprise fleet customer.
"While it is not our policy to provide revenue or earnings guidance, our performance for the quarter is significantly improved over our results of the past four quarters," commented Andrew Gutman, Chairman of the Company and Interim Chief Executive Officer. "Our improved sales process, deeper cooperation with our major US cellular channel partner, and our recently introduced Webtech Fleet Center platform are beginning to generate momentum in the marketplace."
About Webtech Wireless
Webtech Wireless (WEW.TO) is a leader in providing fleet management telematics, GPS and automatic vehicle location (AVL) solutions that improve efficiency, accountability and reduce costs. Our end-to-end solutions automate record keeping and regulatory compliance, reduce fuel burn and idling, mitigate risk, and keep drivers safe. Managers trust us to ensure people are accountable and vehicles are visible. Through the cloud, in the office, or straight to mobile devices, we deliver Fleet Intelligence Anywhere™. Our solutions, Webtech Fleet Center™ and InterFleet®, and our products, Webtech Driver Center™ and Webtech 511®, provide advanced fleet management solutions for winter maintenance, public works and waste management fleets; and, for commercial fleet operations and compliance (HOS, ELD). Please visit www.webtechwireless.com.
All amounts in Canadian dollars (CAD$) unless otherwise noted. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. Trademarks are the property of their owners.
