Spantel Achieves Profits on 2004
March 09 2005 - 12:41PM
PR Newswire (US)
Spantel Achieves Profits on 2004 FUENGIROLA, Spain, March 9
/PRNewswire-FirstCall/ -- Spantel Communications Inc. (OTC:SPAL)
(BULLETIN BOARD: SPAL) , a provider of telecommunications services
in Spain, announced today that the Company achieved a profit for
the second consecutive year before audit. The company earned a
profit of $614,000 for 2004. Revenues for fiscal year 2004 jumped
sharply to $19,809,866 from $16,446,831 in 2003, an increase of
20.4% or $3,363,035. This improvement is due to the performance of
the Reseller and Prepaid Cards Department as well as a significant
improvement in our Internet business. Fourth Quarter performance
was strong, increasing 16% with sales of $4,919,126 versus
$4,236,193 for the same period last year. We expect to continue
improving our sales performance in 2005 as the company explores new
opportunities that should improve our sales and gross margins. Our
2004 performance, coupled with our plans for 2005, create the
positive environment needed for a third consecutive year of
earnings growth. 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: Jose Ramon Basterra, President Spantel Communications Inc.
+34 952669300 This release was issued through eReleases(TM). For
more information, visit http://www.ereleases.com/. DATASOURCE:
Spantel Communications Inc. CONTACT: Jose Ramon Basterra,
President, Spantel Communications Inc., +34 952669300,
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