San Diego, CA—Feb.12—Franklin Wireless Corp. (OTCBB: FKWL.OB), a developer and marketer of wireless broadband communications devices and applications, announced strong results for the second fiscal quarter of 2008, driven by brisk sales of mobile broadband USB modem products in the U.S., Caribbean and South America.
The company reported sales increased 336.4 percent to $7.8 million for the quarter ended Dec. 31, 2007, compared with $1.8 million in sales during the corresponding period of 2006. Net income also rose in the quarter to $1.07 million from $213,659 in the second fiscal quarter 2006.
Sales during the quarter were driven by strong demand for CDMA USB products—namely the CDU-680, CDU-650 and CDX-650 USB modem products that were introduced during the middle of 2007. The overall sales increase was also due to the surge in sales volume in the United States as well as in the Caribbean and South American countries, in the amount of $1.2 million and $6.7 million respectively, for the three months ended Dec. 31, 2007, compared with $56,798 and $1.7 million for the corresponding period of 2006, an increase of 1,942 percent and 283 percent.
“Our strong position in the CDMA market fueled our tremendous growth in the second quarter,” said Franklin Wireless President O.C. Kim. “Going forward, look for the company to make significant inroads into the WCDMA market with high-end solutions that include HSDPA/HSUPA technology targeted at broadband carriers.”
Franklin Wireless products are marketed through distributors, as well as directly to operators and end users. The company offers a full range of mobile broadband solutions for CDMA 1xEV-DO Rev.0 and Rev. A operators as well as WCDMA solutions that include HSDPA/HSUPA for worldwide broadband carriers.
About Franklin Wireless
Franklin Wireless Corp. (OTCBB: FKWL.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 provides 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.
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.