Eagle Broadband Reports Second Quarter 2006 Results
April 12 2006 - 8:38PM
Business Wire
Eagle Broadband, Inc. (AMEX:EAG), a leading provider of broadband,
Internet Protocol (IP) and communications technology and services,
today announced financial results for its fiscal 2006 second
quarter ending February 28, 2006. Total revenues in the second
quarter were $1.76 million compared to revenues of $2.68 million
for the same period last year. Cost of goods sold decreased by 58%
to $1.54 million for the second quarter, as compared to $3.64
million for the second quarter fiscal 2005. The result was a gross
profit of $222,000 for the second quarter or an increase of 123%,
as compared to a negative gross profit of $960,000 for the same
period last year. Operating expenses for the second quarter were
$3.81 million, which is a 52% decrease from the same period last
year when Eagle incurred $8.88 million in operating expenses. Net
loss from operations was $4.0 million for the second quarter of
2006, which is a 56% reduction compared to the same period last
year when Eagle incurred a $9.3 million net loss from operations.
"Throughout the second quarter, we have continued to realign staff
and resources for our key market areas: IPTV Complete, SatMAX,
Set-Top Boxes and providing solutions with Managed Services," said
Dave Micek, President and CEO of Eagle Broadband. "The results are
two successive quarters with positive gross profit, continued to
reduce our operating expenses as compared to the same period last
year, and reduced our net loss in the current quarter as compared
to the same period last year. Eagle will continue to aggressively
monitor and reduce costs as we move toward profitability." Summary
of financial and operational highlights in the 2006 second quarter
includes: -- Achieved a $222,000 gross profit for the quarter, as
compared to a negative gross profit of $960,000 for the same period
last year -- 52% reduction in second quarter operating expenses
versus the comparable period last year -- 58% reduction in salaries
and related costs to $1.3 million as compared to $3.1 million for
the same period last year -- 56% reduction in net loss from
operations this quarter to $4.0 million as compared to the
comparable period last year quarterly net loss of $9.3 million --
Eagle launched a new portable version of SatMAX, known as the Alpha
Emergency Communications Solution - "SatMAX in a suitcase." --
Eagle established an important reselling relationship with World
Communication Center (WCC) for Eagle's SatMAX product line. -- Eric
Flores will manage SatMAX Sales. Eric was previously with Eagle's
Managed Services division. -- Within the IPTV Solutions division,
Eagle has consolidated all sales activities under the leadership of
Al McCabe, Eagle's Vice President of Sales. -- Russell Buras is now
General Manager for the SatMAX division. Buras previously managed
our Security and traditional cable businesses. -- Dick Sanger, Vice
President of Administration, is now responsible for our Managed
Services division. About Eagle Broadband Eagle Broadband, Inc. is a
provider of broadband, Internet protocol (IP) and satellite
communications products and services. The Company's business
activities are focused on the following core areas:
IPTVComplete(TM), delivering over 200 channels of digital
television content via IP to many market sectors, such as to
telephone companies or multi-dwelling unit operators (e.g.,
condominiums), including Eagle's MediaPro standard or
high-definition set-top boxes for both hospitality and IPTV
customers; SatMAX(TM), Eagle's patented satellite telephony
extension technology for indoor applications for enterprise,
military and other government customers, especially in portable
First Responder situations with Eagle's new Alpha "SatMAX(TM) in a
suitcase" model; and Managed Services, through which Eagle provides
various IP and satellite-related technology implementations to a
broad cross section of markets, including remote network
management, structured cabling and IT integration services. The
company is headquartered in League City {Greater Houston area},
Texas. For more information, please visit www.eaglebroadband.com or
call 281-538-6000. EAGG Forward-looking statements in this release
regarding Eagle Broadband, Inc., are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties, including, without
limitation, continued acceptance of the company's products,
increased levels of competition, new products and technological
changes, the company's dependence upon third-party suppliers,
intellectual property rights, and other risks detailed from time to
time in the company's periodic reports filed with the Securities
and Exchange Commission.
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