San Diego, CA—Sept. 25, 2007—Franklin Wireless Corp. (OTCBB: FKLT.OB), a developer and marketer of wireless broadband communications devices and applications, announced record results for the fiscal year ended June 30, 2007.
The company reported sales jumped 935.5 percent to $10.4 million for the year ended June 30, compared with $1 million in sales the previous year ended June 30, 2006. Net income also rose sharply in the fiscal year to $1.3 million from a loss of $277,590 in 2006. The results are reported in US dollars and are prepared in accordance with United States generally accepted accounting principles.
Franklin Wireless’ results were bolstered by sales of the company’s CDMA USB modem products to a new carrier customer in North America in the amount of $4.28 million in fiscal 2007 and a strong increase in demand for the company’s CDMA EV-DO data products in South America. Sales of EV-DO data products in South America totaled $5.8 million in fiscal 2007 compared with $753, 130 in fiscal 2006, representing an increase of 668.8 percent for the year.
“We are reaping the benefits of brand recognition and feature-rich mobile broadband modem products,” said OC Kim, president of Franklin Wireless. “We continue to bring to our customers and end users exceptional value with our leading edge products.”
During the fiscal year, Franklin Wireless introduced the CDU-680 mobile broadband USB modem, the first EV-DO Revision A modem to incorporate flash memory, a GPS receiver and a unique swiveling USB connector.
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 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’s wireless products are based on Evolution Data Optimized technology (¡°EV-DO technology”) of Code Division Multiple Access (¡°CDMA”), which is a wireless radio broadband data standard adopted by many CDMA mobile service providers; and enable end users to send and receive email with large file attachments, play interactive games, receive, send and download high resolution picture, video, and music contents. 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.