AmbiCom Holdings, Inc. Reports 469% Increase in Revenue for First Fiscal Quarter Compared to One Year Ago
Published: Dec 11, 2012
MILPITAS, CA--(Marketwire - December 11, 2012) - AmbiCom Holdings, Inc. (OTCBB: ABHI), a leading designer and developer of wireless products for the medical industry and a distributor of innovative healthcare products, announced results for its first fiscal quarter. For the quarter ending October 31, 2012, AmbiCom reported sales of $847,205 compared to first quarter 2012 sales of $148,947. The 469% increase is attributable to increased demand by customers of the company's newer wireless cards that are being introduced as well as the company's introduction of its solar ionic toothbrushes.
AmbiCom reported a net income of $146,623 for the quarter, compared to a net loss of $492,832 for the same quarter one year ago, an improvement of 130%. The increase in net income was due to a combination of increased sales coupled with specific cost cutting steps taken by the company.
"We believe there are unique opportunities to continue to grow our revenue and profitability due to the sheer size of the wireless healthcare market and our innovative approach and exemplary customer service," said John Hwang, Chief Executive Officer of AmbiCom Holdings, Inc.
About AmbiCom Holdings, Inc.
AmbiCom is headquartered in Milpitas, California, and is a leading designer and developer of wireless products focusing on the wireless medical and automotive industries. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware, and to bringing new and innovative products to the wireless medical markets and other sectors. AmbiCom also serves as a distributor for innovative healthcare products both in the US and abroad. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value. For more information, visit www.ambicom.com
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 18934. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to, our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Martin E. Janis & Company, Inc.