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IVI
COMMUNICATIONS, INC. ANNOUNCES FOURTH QUARTER AND YEAR-END FINANCIAL RESULTS
Fourth
Quarter Revenue of $748,000
Los Angeles, California, July 21, 2005. PR Newswire-First Call- IVI Communications,
Inc. (OTC: IVCM.PK) announced today its financial results for the fourth
quarter and full fiscal year ended March 31, 2005. The results for the
periods include the operating results of its subsidiaries Internet Business
Consulting, Inc. (“IBC”), also known as IBC Wireless, and
AppState.Net, LLC which were acquired by the Company in January 2005.
The Company reported revenue of $747,594 for the quarter ending March
31, 2005, an increase of $744,196 from the $3,398 reported for the same
period in 2004. For the fiscal year ended March 31, 2005, the Company
reported total revenues of $775,594 representing an increase of $772,196
from the prior fiscal year. The Company attributed the change in revenue
to its acquisitions.
Charlie Roodenburg, CFO of IVI Communications stated, “We are pleased
with the performance of our newly acquired subsidiaries, IBC Wireless
and Appstate.Net, and intend to leverage IBC’s expertise as we acquire
ISPs and deploy wireless broadband services.”
Jim Hollis, President of IBC Wireless stated, “Nearly all of the
Company’s revenue was generated by IBC through the delivery and
installation of pre-WiMax license exempt fixed wireless broadband equipment.
We believe that this market niche is growing rapidly and should contribute
to an improved performance for the Company in the next fiscal year. We’re
already experiencing benefits of being part of IVIC’s market strategy.”
Nyhl Henson, President and Chief Executive Officer of the Company stated,
“Acquisition of rural ISPs and deployment of our Lickity-SplitSM
broadband Internet access service will expand our operations considerably,
enhance our revenue generating ability, and increase the sales volume
of our IBC division.” Mr. Henson added, “We’re also
seeing strong interest in wireless “pure plays” in urban fringe
residential and multiple dwelling unit (MDU) markets.”
About IVI Communications IVI Communications intends to acquire, consolidate
and profitably operate locally branded ISPs in Tier 3 markets to offer
state of the art dialup and Lickity-SplitSM wireless Internet access to
residential and business customers. Local ISPs are hampered in their ability
to provide the highest quality services and profitably deploy broadband
access because they lack buying power. Through consolidation, economies
of scale are achieved and profit is maximized. As more compelling content
becomes available, the management of IVIC believes that the demand for
broadband services will increase dramatically. ISPs having a track record
of success in broadband will not only retain customers by converting their
dialup customers to broadband but will acquire new customers who migrate
from other dialup providers.
IVI Communications
has two wholly owned subsidiaries, Internet Business Consulting, Inc.
and AppState.Net. IBC is a leading provider of turnkey wireless networks
that has the expertise required to engineer, install, and support wireless
applications and solutions. AppState.net is an Internet Service Provider
founded in July 1999 providing wireless and dialup Internet access to
the Appalachian State University town of Boone, NC.
Forward-Looking
Statements This press release contains certain forward-looking statements,
which are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Expressions of future goals and similar
expressions reflecting something other than historical fact are intended
to identify forward-looking statements, but are not the exclusive means
of identifying such statements. These forward-looking statements involve
a number of risks and uncertainties that could cause actual results to
differ materially from those currently anticipated. Factors that could
cause or contribute to such differences include, but are not limited to,
market acceptance of products and technologies, competitive factors, the
Company's ability to continue to secure sources of financing and other
factors described in the Company's filings with the Securities and Exchange
Commission. The Company undertakes no obligations to revise or update
any forward-looking statements in order to reflect events or circumstances
that may arise after the date of this press release.
SOURCE IVI
Communications Inc.
www.ivn.net
Premier Funding
& Financial Marketing Services LLC.
Kelly Black, President 480 649-8224 or e-mail kblack@
premierfundingservice.com
Heather Kerwin, Investor Relations, hkerwin@premierfundingservice.com
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