|
Newsletters
|
|
|
|
|
|
WirelessDevNet.com Press Release
Nextair's Strategic Shift Paying Off
TORONTO, Nextair Inc. (TSX: NXA), a leading provider of wireless software platforms, reported today that 2003 Annual Results show strong growth in revenue and significant improvements in gross margin, net loss and cash flow.
"In 2003 Nextair made significant changes to its board, management, strategy and product portfolio," said Ron Close, President and CEO. "We deliberately focused most of our resources at the largest and fastest growing market we served. AIRIX helps enterprises connect their field workers to head- office systems and data. It provides companies with the fastest way to wirelessly enable enterprise applications and bridges the technical hurdles that previously choked the pace of growth for enterprise wireless applications. The wireless industry is growing and it is very rewarding to see Nextair driving growth in this space."
2003 Highlights
Revenue for the year was up 34% to $1,211,075. Gross Margin held firm at 91% of Revenue. Operating Expenses decreased by 21% to $2,903,938. Net Loss for the year improved by 34% to $1,754,378. Cash used in operations improved by 44% to $1,439,747.
Nextair's Consolidated Financial Statements for the year ended December 31, 2003 along with the accompanying Management Discussion and Analysis have been released and are available at www.Sedar.com.
About Nextair
Nextair Inc. (www.nextair.com) is the developer of the award winning
AIRIX(TM) Wireless Environment, as well as several wireless passenger transportation, field service and dispatch applications. AIRIX provides rapid development of sophisticated wireless applications for mobile devices. All popular networks and wireless handheld devices are supported.
For further information: Monica Salvo, Sr. Consultant, Public and Media Relations, Strategic Ampersand, (416) 961-5595 (ext.438), monica@stratamp.com; Scott Browne, VP-CFO, Nextair Corporation,(416) 549-1003, investor@nextair.com
|
|
|
