Viper Networks Reports $1.3 Million Increase in Annualized Revenue for Adoria Communications Division
SAN DIEGO--(BUSINESS WIRE)--Aug. 4, 2004--Viper Networks, Inc. (OTC:VPER) wholesale traffic division, Adoria Communications, LLC, based in Boston, Massachusetts, announced today that it is on track to generate revenues in excess of $3.4 million for 2004, a $1.3 million increase or 62% over 2003 revenues of $2.1 million.
Adoria Communications, LLC and Mid-Atlantic International, Inc. are both wholly-owned subsidiaries of Viper Networks, Inc. and comprise the wholesale VoIP traffic division. As previously announced, these two companies are scheduled to be combined to form the new "Viper Wholesale" division by the end of the year and will be led by Mr. James Balestraci. Viper Networks, Inc. expects that the combined synergies, international routes, and shared resources of consolidating the two companies will add to the overall increased growth and prosperity of the new Viper Wholesale international traffic division.
Viper Networks Chief of International Wholesale Operations, James Balestraci commented, "This increase in revenue has two direct impacts on our business plan, first to provide Viper a wholesale profit by selling to other carriers, and second and probably more importantly, to increase the margin opportunity of our retail minutes. I am pleased with our results thus far as we continue to work towards our goals and intensify the efforts of our Wholesale operations."
Viper Networks Chief Executive Officer, Ron Weaver, commented, "While sales of our new products and traffic on our global VoIP network make a significant contribution to our bottom line, and continue to grow at a brisk pace each day, the added dimension of our wholesale traffic growth solidifies Viper Networks position as a formidable player in the global telecommunications market."
Weaver concluded, "The business model we created at Viper Networks continues to outperform our expectations and deliver verifiable results each month as the Company maximizes each product, market segment and business opportunity."
About Viper Networks Inc.
Viper Networks, Inc. has built "Your Internet Phone Company" by refining technology and expanding its state-of-the-art global VoIP (Voice over Internet Protocol) network that allows calls to be placed to any phone in the world at substantial savings using your existing Internet connection, and receive calls through a unique IP-PSTN switching network. Viper Networks is a publicly traded Utah corporation with headquarters in San Diego, California. For more information about Viper Networks Inc, please visit www.vipernetworks.com.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. Viper Networks Inc. cautions readers not to place undue reliance upon any such forward looking statements, which speak only as of the date made. Viper Networks Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based.
Contacts
Viper Networks, Inc.
Jason Sunstein, 800-482-2124
Jason@vipernetworks.com
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