NASHVILLE, Tenn., Oct. 14, 2004 (PRIMEZONE) -- Satellite Phone Source, Inc. (Pink Sheets:SPHI) today announced it had achieved unprecedented sales and net profit growth for its third quarter, ending September 30, 2004. The company in August 2004 had a realized net profit growth over last years-same time period of 49%. September sales exceeded expectations of 33% for the same time period last year.
"Our new contracts for hardware and airtime have allowed us to become cutting edge competitive. Our sales group now has the opportunity to go after new and larger contracts in other business segments," stated Stan Wilson, President/CEO.
Mr. Wilson further stated, "For personal reasons, Mr. Jon Aldrich unfortunately has resigned from the Board of Directors of SPHI, but will continue on in a major role as consultant for contracts and new business associated for MSAT services."
About Satellite Phone Source, Inc.
Satellite Phone Source, Inc. is a leading nationwide provider of satellite telecommunications equipment to the high-growth rental market. The company offers satellite phones, satellite video phones, satellite modems, and a wide range of related accessories from vendors such as Thuraya, Iridium, Inmarsat, GlobalStar, MSAT, and others. SPS is an approved active supplier to Northrop Grumman, Cornell University, the NYC American Red Cross, the US Postmaster General, and the Pentagon Federal Credit Union. For more information on Satellite Phone Source, Inc.'s business, visit their web sites at http://www.satellitephonesource.com/ and http://www.satellitephonerental.com/.
The company is currently featured on: http://www.stockemporium.com. Satellite Phone Source, Inc. is also featured in the latest issue of an online publication. For a copy of the report, send your name and e-mail address to stocktradernews@houston.rr.com.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Satellite Phone Source, Inc. and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.