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TelePlus' Acquisitions Integrating on Target and Delivering Expected Efficiencies19 October 2005
TelePlus Enterprises, Inc. ("TelePlus" or the
"Company") (OTC BB: TLPE) (http://www.teleplus.ca) is pleased to report
that the integration of the companies recently acquired is proceeding well
and on schedule.
INTEGRATION PROCEEDING AS PLANNED
Avenue Reconnect, acquired June 3rd, 2005, is now fully integrated on the
Company's Operating Support System ("OSS"). Avenue's customer invoices,
carrier billing reconciliations, customer support and financial controls
are all being carried out by the Company's OSS. The Company has initiated
the integration of Freedom Phone Lines, acquired April 1st, 2005, to the
Company's OSS. The integration of Freedom is anticipated to be completed
within 90 days. Once this is done, all the Company's telecom products and
services will be operating from a single platform allowing the Company to
benefit from reduced costs and increased operational efficiencies while
providing a higher quality of service to its customers.
CONTINUED FOCUS ON INCREASING OPERATIONAL EFFICIENCY
The Company also continues the consolidation of its retail footprint
through a further reduction of its store count as part of its focus on
driving increased profitability within the retail operation. The additional
reduction in leaseholds is anticipated to increase the $607,000 cost
reduction announced June 30th of this year.
"We are pleased with the progress on the integration of the recently
completed acquisitions. I believe it is important to provide ongoing
feedback to our shareholders on this matter. Too frequently, Companies
undergoing growth through acquisition fail in their business plan because
they underestimate the work required in integrating the acquired
businesses. Although we have delivered strong organic growth -- in
September crossing over 25,000 customer lines -- we need and can do much
more in growing our customer base. We anticipate announcing and
implementing shortly our marketing strategy to do just that," stated Marius
Silvasan, Company CEO. "From an operator of retail stores offering a
variety of wireless and data products we have emerged over the last 6
months as a full telecom and wireless provider across North America. With
this in mind, the further consolidation of our retail footprint is directly
in line with our intent to maximize the performance of all our operations,"
added Silvasan.
(1USD = 1.17CDN)
This press release is available on the company's official on-line investor
relations site for investor commentary, feedback and questions. Investors
are asked to visit http://www.agoracom.com and view the TelePlus Investor
Relations Hub. Alternatively, investors are asked to e-mail all questions
and correspondence to TLPE@agoracom.com where they can also request
addition to the TelePlus investor e-mail list to receive all future press
releases and updates directly.
About TelePlus http://www.teleplus.ca
TelePlus Enterprises, Inc. ("TelePlus") is a provider of Wireless and
Telecom products and services across North America. TelePlus Connect, Corp.
-- is a reseller of a variety of Telecom services including landline, long
distance and internet services. TelePlus Wireless, Corp. -- operates a
virtual wireless network selling cellular network access to distributors in
the United States. TelePlus Retail Services, Inc. -- owns and operates a
national chain of TelePlus branded stores in major shopping malls, selling
a comprehensive line of wireless and portable communication devices.
The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties, including but not limited to risks associated with the
uncertainty of future financial results, additional financing requirements,
development and acquisition of new product lines and services, government
approval processes, the impact of competitive products or pricing from
technological changes, the effect of economic conditions and other
uncertainties, and the risk factors set forth from time to time in the
Company's SEC reports, including but not limited to its annual report on
Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form
8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct
forward-looking statements.
CONTACT:
Institutional IR Inquiries
Investor Relations
866-699-3388
info@teleplus.ca
http://www.teleplus.ca/
Retail IR Inquiries
AGORA Investor Relations
http://www.agoracom.com
TLPE@agoracom.com
SOURCE: TelePlus Enterprises, Inc.
Source: Marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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