CALGARY, Alberta, Nov. 7, 2007 (PRIME NEWSWIRE) -- Grayling Wireless USA, Inc. (Pink Sheets:GRYW) is pleased to report several updates mentioned during an investor conference call with Grayling CEO Jeff Love held November 5th, 2007:
Grayling Wireless USA, Inc. confirmed that the company is in ongoing discussions with SCBA manufacturers. The nature of the discussions at the present time is non-public information but will be reported as disclosable events occur.
The company is currently evaluating acquisition and merger opportunities. The company will inform shareholders in the coming weeks regarding the M&A situations.
In regards to the company's divisions, Grayling announced that Stone Mountain has current annual revenue of approximately $1 million (unaudited) with an excellent growth profile for the current fiscal year. As for Sentai, the company recently announced approximately $1.3 million in EBITDA (unaudited) for the year ended September 30, 2007. The company expects the Software division to generate 20-25% in earnings growth this year.
The company also announced that they have previously raised approximately $15 million (unaudited) for R&D and operational purposes since 2001.
In closing, Mr. Love stated that the revenue potential for ClearCalm is just now beginning to be realized. The recent consolidation of manufacturing at the Stone Mountain facility in Virginia and the aggressive expansion of distribution coverage will set up the Radio division for a strong growth year.
About GRYW:
Grayling, based in Calgary, Alberta, is an innovator and integrator of emerging technologies. Our goal is to seek out and evaluate growth opportunities, including mergers and acquisitions that add incremental shareholder value, extend the company's market share and add to its technical competencies. Grayling will continue to bring market-ready technologies and services to its markets. For further information, visit http://www.gryw.com
This press release contains forward-looking statements within the definition of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision.
For further information on: ClearCalm, visit www.clearcalm.com Stone Mountain, visit www.stonemountainltd.com Sentai, visit www.sentai.com