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Spantel Communications, Inc. First Quarter Continues Revenue
Growth as Net Income Rises 447%
FUENGIROLA, Spain, April 15 /PRNewswire-FirstCall/ -- Spantel Communications,
Inc. (BULLETIN BOARD: SPAL) , a telecommunications provider in Spain, today
announced its preliminary operating results for the first quarter ended March
31, 2004.
The Company saw significant improvement in many areas versus the first quarter
of 2003 with net income soaring 447% to record levels of $661,681 versus
$120,833 and sales increasing 33% to $5,087,930 from $3,830,997. Gross profit
margin of 47.4% of revenue was up 5.7 percentage points from last year's
levels. The strong quarter was driven by robust sales attributable to the
agreements entered into earlier this year by the company. These agreements
provided Spantel with an immediate increase in sales and profits, without a
significant increase in operating expenditures due to better network
utilization.
Management Perspective
According to Spantel's President, Jose Ramon Basterra, "We are very optimistic
about the future of our company after five consecutive profitable quarters.
Our improved financial position has greatly enhanced our ability to concentrate
on a growth strategy centered on acquisitions rather than relying solely on
traditional marketing approaches we have used in the past." Mr. Basterra went
on to say, "As the telecommunications industry within Spain consolidates, it
will continue to create many desirable opportunities for us to aggressively
target. Several of the secondary carriers and resellers who have a niche
market have been unable to achieve profitability or lack the cash flow required
for growth making them ideal candidates for Spantel.
"The company also is able to market our services to many of these candidates
who do not meet our acquisition criteria. We have a proprietary billing
system, our own network and other services that will enable them to become
competitive and profitable. In either situation, we have positioned ourselves
to capture the traffic which will ultimately reduce many of our costs and
increase our profitability.
"The Company will continue to focus on acquisitions and network agreements as
the primary sources for growth," says Mr. Basterra. "We are very pleased with
our recent accomplishments and remain committed to making every effort in order
to bring value to our shareholders."
Spantel Communications, Inc. is a provider of telecommunications services
throughout Spain. To learn more about Spantel, visit the Company's website at
http://www.spantel.es/.
Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties, which may cause
the Company's actual results in future periods to differ materially from
forecasted results. Those risks include, among other things, the competitive
environment in the telecommunications industry in general and in the Company's
specific market areas, inflation, changes in costs of goods and services and
economic conditions in general. Those and other risks are more fully described
in the Company's filings with the Securities and Exchange Commission.
Contact:
Mr. Robert Carlin
+1.804.967.9665 & +34.607.51.49.06
This release was issued through eReleases(TM). For more information, visit
http://www.ereleases.com/.
DATASOURCE: Spantel Communications, Inc.
CONTACT: Mr. Robert Carlin, Spantel Communications, +1-804-967-9665,
+34.607.51.49.06,
Web site: http://www.spantel.es/