Unedited news and product information from vendors.
Franklin Wireless Announces 445% Sales Increase in Fiscal Second Quarter 2010
Feb 25, 2010 (03:02 PM EST)
SAN DIEGO, Feb. 25 /PRNewswire-FirstCall/ -- Franklin Wireless Corp. (OTC Bulletin Board: FKWL), the market leader in dual-mode WiMAX and CDMA modems for 3G and 4G wireless broadband data communications, announced strong sales and an increase in net profit for the second quarter fiscal year of 2010, driven by demand for the company's dual-mode USB modem products.
The company reported a sales increase of 445.3 percent to $25.2 million for the quarter ending December 31, 2009, compared with $4.6 million in sales for the corresponding period of 2008. Sales during the quarter were driven by demand for the company's U300 and U301 dual-mode USB modems that were first introduced in 2009.
Net income increased 57 percent to $821,000 for the three- month period ending December 31, 2009, compared with $523,000 for the same period in 2008.
"Franklin's leadership position in the dual-mode USB market and demand for our U300 and U301 products drove the tremendous growth during this past quarter," said OC Kim, president of Franklin Wireless. "We strive to lead innovation toward 4G networks by providing products that enable flexible connection and data-sharing through wireless broadband networks."
The company's 10-Q filing for the three-month period ending December, 2009 is on file with the SEC (www.sec.gov).
About Franklin Wireless
Franklin Wireless Corp. (OTC Bulletin Board: FKWL) designs and sells broadband high speed wireless data communication products such as third generation ("3G") and fourth generation ("4G") wireless modems and modules. The Company focuses primarily on wireless broadband Universal Serial Bus ("USB") modems, which provide a convenient way for wireless subscribers to connect to broadband networks with any laptop or desktop PC. The company's products are positioned at the convergence of wireless communications, mobile computing and the Internet.
Founded in 1982 and headquartered in San Diego, CA, the company is committed to serving the global wireless community by catering to the dynamic needs of its customers. For additional information, please visit www.franklinwireless.com.
Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements.
SOURCE Franklin Wireless Corp.