Network Installation Posts Record $6.8 Million in Revenue for 1st Quarter; Increases 800%
May 15 2006 - 5:38PM
PR Newswire (US)
LAS VEGAS, May 15 /PRNewswire-FirstCall/ -- Network Installation
Corp. (OTC:NWKI) (BULLETIN BOARD: NWKI) announced today that it
posted a record $6,806,146 in revenue for the first quarter ended
March 31, 2006 vs. $750,716 for the quarter ended March 31, 2005,
an 800% increase. Net loss per share for the quarter ended March
31, 2006 was (.03) vs. (.31) per share for the quarter ended March
31, 2005. Approximately $5 million in first quarter revenue was
attributed to the completion of Station Casinos' 'Red Rock Casino
Resort Spa' project by acquired subsidiary Kelley Technologies. The
Company's complete financials can be viewed on its most recent
10-QSB filing at http://www.sec.gov/. Network Installation CEO
Jeffrey R. Hultman stated, "I am truly excited to report such
remarkable growth to our shareholders. While we continue to push
for accelerated top line growth, we are also extremely focused on
achieving positive cash flow and profitability. To that end, we
have targeted a significant improvement to our profit margins,
which increased sequentially from 10% in the fourth quarter of 2005
to 14.8% in the first quarter of 2006 and are planning for even
greater improvement in the quarters ahead." He added, "I believe
our opportunities in both the gaming and the luxury condo market
are enormous and expect that to reflect in even better performance
as the year progresses." About Network Installation Network
Installation Corp., through its wholly-owned subsidiary Kelley
Technologies, is a technology company which specializes in the
design, development and integration of communication technology and
system networks for the resort and gaming industry as well as
luxury high-rise condo developments (MDUs). Kelley Technologies has
also developed a patent-pending, proprietary next generation Race
& Sports Book platform designed for the gaming industry and
remains committed to developing the most advanced technology
solutions to meet the desires of its clients. To find out more
about Network Installation Corp. (OTC:NWKI) (BULLETIN BOARD: NWKI)
or Kelley Technologies, please visit
http://www.networkinstallationcorp.net/ or http://www.kccinc.com/.
The Company's public financial information and filings can be
viewed at http://www.sec.gov/ Forward-Looking Statements This
release contains forward-looking statements, including, without
limitation, statements concerning our business and possible or
assumed future results of operations. Our actual results could
differ materially from those anticipated in the forward-looking
statements for many reasons including: our ability to continue as a
going concern, adverse economic changes affecting markets we serve;
competition in our markets and industry segments; our timing and
the profitability of entering new markets; greater than expected
costs, customer acceptance of wireless networks or difficulties
related to our integration of the businesses we may acquire; and
other risks and uncertainties as may be detailed from time to time
in our public announcements and SEC filings. Although we believe
the expectations reflected in the forward-looking statements are
reasonable, they relate only to events as of the date on which the
statements are made, and our future results, levels of activity,
performance or achievements may not meet these expectations. We do
not intend to update any of the forward-looking statements after
the date of this document to conform these statements to actual
results or to changes in our expectations, except as required by
law. For further information, please contact Jeffrey R. Hultman,
Chairman and CEO Network Installation Corp., , ph (949) 719-2700 or
(702) 889-8777. DATASOURCE: Network Installation Corp. CONTACT:
Jeffrey R. Hultman, Chairman and CEO of Network Installation Corp.,
+1-949-719-2700, or +1-702-889-8777, Web site:
http://www.kccinc.com/ Web site:
http://www.networkinstallationcorp.net/
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