Quebec, QC / TheNewswire / September 14th, 2017 – NuRAN Wireless Inc. (“NuRAN Wireless” or the “Company”) (CSE:NUR) (OTC: NRRWF), a leading supplier of mobile and broadband wireless solutions to connect the next billion, is pleased to announce its financial results for the three months ended July 31, 2017. All dollar amounts are expressed in Canadian currency.

 

Highlights of the Company’s financial results for the three months ended July 31rd, 2017 included the following:

 

-Revenue of $1,909,019, compared to $1,072,216 for Q3 2016, an increase of approximately 78%;

-Gross Profit of $1,225,221 or approximately 64%; an increase of 6% from Q3 2016 attributable in part to recent  strategic contracts with a high level corporate TIP (www.telecominfraproject.com)  member which are higher margin and may bring higher future recurring revenue;

-Positive EBITDA of $245,513 compared to a negative EBITDA of $236,983;

-Order backlog of approximately $7 million;

-Order bookings of approximately $5.5 million for the quarter.

 

“We are very pleased with our Q3 results and continue to be extremely confident with the direction of our company. We are also very bullish on our future direction and our growth potential driven by a number of very important initiatives. We are now recognized by Tier One Operators as the company with the best solutions for rural and remote connectivity. Our high level partnerships with world class companies and our important involvement and contribution to the Telecom Infra Project (“TIP”) continues to drive our progress forward evidenced by our co-development of important solutions such as the OC-SDR, the OC-2G and the OC-LTE. These products, which are expected to be launched shortly, are important contributions to our current positive performance and will help drive our future performance in the coming quarters. As we begin to ramp up our sales and delivery of our wireless solutions, we can expect tremendous revenue growth and continued profitability. We are well positioned to be the market leader in this very important space”, states Martin Bedard, Co-CEO of NuRAN Wireless.

 

Within the quarter, NuRAN successfully completed a number of Interoperability Operation Tests (“IOT”) with various Tier One Operators. These approvals may lead to a number of significant purchase orders. The company has already demonstrated through its past announcements that it can convert these successful IOT tests into significant purchase orders.

 

Highlights YTD From 2017

           

-Feb 10: Nutaq Receives over $1M in New Engineering Contracts

 

-Feb 21: NuRAN receives an over $1M order of its LiteCell 1.5 to be deployed for a Tier One Operator, by Africa Mobile Network (“AMN”), in Africa.

 

-Feb 28: NuRAN Showcases OpenCellular Prototype at Mobile World Congress

 

-Feb 28: NuRAN is retained by Facebook as a Development Partner For a 4G LTE Version of the Base Station

 

-March 20: NuRAN Launches Facebook’s Community Cellular Manager (CCM) Software for its LiteCell Base Station

               

-March 23: NuRAN Wireless Selected by Globe Telecom for Rural Mobile Deployment in the Philippines

 

-April 3: NuRAN Wireless Receives a $1.254M Order for Nigeria, Africa

 

-April 20: NuRAN Wireless Announces Joint Collaboration for a 5G Base Station with Viettel; a company with over 90M users and one of the largest telecom companies in the world

                       

-May 16: NuRAN Wireless Selected for Rural Connectivity Project in Mexico; a collaboration with the Government

 

-May 25: NuRAN Wireless Receives a $4M Order for Deployment in Africa for a Tier-One Operator

 

-June 21: Introduction of the OC-2G; a new Telecom Infra Project Product

 

-July 13: NuRAN Selected by US Navy Air Systems Command (NAVAIR) to Supply SDR

 

-July 24: Raeanna Group Committed to Deploy over 1000 Sites in Nigeria using NuRAN’s GSM Solution

 

-August 24: NuRAN Wireless to Host a Symposium on 5G Research

 

-August 31: NuRAN Wireless Receives a Second Order from NASA for its SDRs

 

-September 6: NuRAN Wireless and u-blox Collaborate on NB-IoT Demo for Mobile World Congress Americas

  

About NuRAN Wireless                                               

NuRAN Wireless, with its wholly owned subsidiary Nutaq Innovation, is a leading supplier of mobile and broadband wireless solutions. Its innovative GSM, LTE, and White Space radio access network (RAN) and backhaul products dramatically drop the total cost of ownership, thereby creating new opportunities for mobile network operators and internet service providers.

The Company provides a variety of specialist systems for indoor coverage, rural and urban connectivity in emerging markets, connectivity to offshore platforms and ships, and for emergency and crisis communications.

For further Information about NuRAN Wireless or Nutaq Innovations:

www.nuranwireless.com or www.nutaq.com

 

Martin Bedard and Patrice Rainville Co-Presidents and Co-CEOs                                               

Tel: (418) 914-7484 Fax: (418) 914-9477

Toll Free: 1-855-914-7484

Email: info@nuranwireless.com ; info@nutaq.com

or                               

Direct Financial Strategies and Communication Frank Candido

Tel: (514)-969-5530

Email: directmtl@gmail.com

                                               

No regulatory authority has approved or reviewed the contents of the information contained in this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release.        

Forward Looking Statements

This press release contains forward-looking statements. EBITDA and Adjusted EBITDA are non-IFRS financial measures. The term EBITDA (earnings before interest, taxes, depreciation and amortization,) does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing a further understanding of operations from management’s perspective. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of NuRAN Wireless to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include: the Company’s quest to connect the next billion; that this strategic acquisition allows NuRAN to offer a complete mobile and broadband solution and the ability to secure the NuRAN solution as the leader in rural and remote mobile connectivity, that the acquisition reinforces NuRAN’s strategic positioning towards new and small operators by offering an end-to-end mobile small-cell network solution with the lowest Total-Cost-of-Ownership (TCO) on the market and that the acquisition will allow NuRAN the opportunity to bring cellular coverage to emerging market where the return on investment (ROI) was previously simply too low.   Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of NuRAN Wireless to obtain necessary financing; general economic conditions in Canada and globally; competition for, among other things, capital and skilled personnel; our ability to hire and retain qualified employees and key management personnel; possibility that government policies or laws may change; possible disruptive effects of organizational or personnel changes; technological change, new products and standards; risks related to acquisitions and international expansion; reliance on large customers; reliance on a limited number of suppliers; risks related to the Company’s competition; failure to integrate the technology and assets acquired from the Vendors and the Company’s failure to adequately protect its intellectual property; interruption or failure of information technology systems and other risk factors described in the Company’s reports filed on SEDAR), including its financial statements for the year ended October 31, 2015, and those referred to under the heading “Risk Factors”.  These forward-looking statements should not be relied upon as representing NuRAN Wireless’ views as of any date subsequent to the date of this press release.