Sales and profit in quarter exceeded sales and profit for entire 2007 fiscal year
San Diego, CA—Nov. 15, 2007—Franklin Wireless Corp. (OTCBB: FKLT.OB), a developer and marketer of wireless broadband communications devices and applications, announced record results for the first fiscal quarter of 2008, driven by strong sales of CDMA data products in the U.S., Caribbean and South America.
The company reported sales increased 791.6 percent to $8.6 million for the quarter ended Sept. 30, 2007, compared with $969,528 in sales during the corresponding period of 2006. Net income also rose in the first quarter 2008 to $1.38 million from $98,923 in the first fiscal quarter 2007, and it exceeded the $1.3 million in net income that was recorded for the entire fiscal year 2007.
Sales during the quarter were driven by strong demand for the CDMA USB products in the U.S. market, where sales totaled $4.6 million or 53.4 percent of Franklin Wireless¡¯ net sales. The Caribbean and South American markets accounted for 42 percent, or $3.64 million, of net sales during the first fiscal quarter.
“Sales in this quarter exceeded sales for the entire fiscal year, which is a testament to our superior brand recognition and product quality,” noted OC Kim, president of Franklin Wireless.
Franklin Wireless products are marketed through Original Equipment Manufacturers (“OEMs”) and distributors, as well as directly to operators and end users.
About Franklin Wireless
Franklin Wireless Corp. (OTCBB: FKLT.OB) designs and markets wireless broadband high speed data communication products such as 3rd generation (“3G”) wireless broadband modules and modems to end users and wireless companies in North and South American countries. Franklin focuses on wireless broadband USB modems, which provide a flexible way for wireless subscribers to connect to the wireless broadband network with any laptop, table PC or desktop USB port without a PC card slot. It markets its products through original equipment manufacturers (OEMs) and distributors, as well as directly to operators and end users in North and South America. The company was founded in 1982 and is headquartered in San Diego, California. For more information about Franklin Wireless, please visit www.franklin-wireless.com
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.