BELLEVUE, Wash., March 15, 2001 (PRIMEZONE) -- Unity Wireless Corporation (OTCBB:UTYW) announces RF (Radio Frequency) power amplifier revenues topped US$ 590,000 in February and January produced record profits. In addition, the Company continues its marketing initiatives by attending the CTIA Wireless 2001 Tradeshow and Exposition in Las Vegas, Nev.
Revenues reached US$ 593,400 in February as demand for the Company's UltraTech RF Power Amplifiers continues. Unity's CDMA 1.8 GHz MCPA Multi Carrier Power Amplifiers delivered to customers in Southeast Asia contributed most of the revenue. The innovative design and turnaround capabilities of Unity Wireless give operators of wireless networks a very versatile solution for signal amplification. These capabilities support their need to rapidly expand network capacity due to increased demand created by both new subscribers and additional services. The Company expects that demand for its core products by existing customers, seasonal fluctuations aside, will remain fairly strong for the remainder of the year and provide a solid base for future growth.
January's record sales of US$ 692,000 allowed the Company to post net operating profits in excess of 20% before non-cash items. This result, due to Unity Wireless Corporation's restructuring over the past several months, indicates the Company is currently on track to meet management's Q1 forecasts, and exceed last year's revenues, in the first quarter of 2001. These achievements will be supported by increasing sales and distribution channels, bolstering product research and development, and a general commitment to cost control and increasing shareholder value.
With continuing focus on expanding its market share and customer base, Unity Wireless will be in attendance at the CTIA Wireless 2001 tradeshow and exhibition in Las Vegas, Nev. March 20-22. CTIA Wireless 2001 is one of the wireless industry's largest International events attracting 30,000 attendees, 700 exhibitors and over 200 speakers annually.
New customer and distribution relationships being developed in European, Asian and North American markets, have already netted several requests for quotes from distributors interested in Unity's Cellular, PCS (Personal Communications Services), WLL (Wireless Local Loop) and 3G (Third Generation) RF power amplifiers.
About Unity Wireless Corporation
At Unity Wireless Corporation, we design, manufacture and market products that propel and support the rollout of the wireless network infrastructure. Our family of high performance RF (radio frequency) amplifiers, related components and wireless IP (Internet Protocol) gateways, are utilized in current generation cellular network base stations and supporting end-to-end data communications for industrial and commercial applications. For more information, please visit our Web site at www.unitywireless.com
Certain information included in this news release, as well as information included in oral statements or other written statements made or to be made by Unity Wireless Corporation and its subsidiaries, contain statements that are forward-looking. Such statements relate to the future anticipated direction of the wireless industry, plans for future expansion, various business development activities, planned capital expenditures, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.