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PRESS RELEASE 04.20.07
ZUNICOM, INC. REPORTS REVENUE & NET INCOME FOR FISCAL YEAR 2006
Dallas, Texas, April 20, 2007 – Zunicom, Inc. (OTCBB:
ZNCM.OB) parent company to AlphaNet Hospitality Systems, Inc. (“AlphaNet”)
and formerly (now 40% owner) of Universal Power Group, Inc. (“UPG”)
today announced its financial results for year ended December 31, 2006.
Zunicom reported its 2006 consolidated revenues increased by $11,246,081
or 14% to $94,336,869 compared to $83,090,788 for the similar period in
2005. Consolidated net income attributable to common stockholders for
2006 was $8,589,792, or $0.97 per basic share and $0.91 per diluted
share, compared to net income of $1,702,656, or $0.20 per basic share
and $0.16 per diluted share for 2005.
UPG accounted for 98% of our consolidated revenues for the years ended
December
31, 2006 and 2005. However, as a result of UPG's initial public offering
that closed on December 27, 2006, we will no longer consolidate UPG's
revenues with ours. We will now employ the equity method of accounting
to reflect our investment in UPG and our share
of UPG's results of operations for future reporting periods based on our
remaining equity interest in UPG, which is 40%.
UPG’s net revenues for the year ended December 31, 2006 were $92.6
million
compared to net revenues of $81.3 million for the similar period in
2005, an
increase of $11.3 million, or 13.9%. UPG advises that it anticipates
continued overall growth in net sales of batteries and battery powered
product lines and new products.
AlphaNet had revenues of $1,749,428 in 2006 compared to $1,815,613 in
2005 or a
decrease of $66,185 or 4%.
AlphaNet's decrease in revenues is attributable to the decline in
revenue on its
InnfaxTM product in the amount of approximately $110,000, as a result of
non-renewals in InnFaxTM contracts. The decrease is partially offset by
the
increased usage and installations of its "The Office" product of
approximately $42,000.
About Zunicom, Inc.
Zunicom, Inc. (www.zunicom.com)
through its wholly owned subsidiary, AlphaNet Hospitality Systems, Inc.
(www.alphanet.net), provides business communication services to the
hospitality industry. Zunicom owns 2,000,000 shares of the common stock
of Universal Power Group, Inc. (Amex-UPG) that represents 40% of the
issued and outstanding shares of UPG common stock as of this date.
Forward Looking Statement Disclaimer
This
release contains a number of forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995.
Statements in this press release that are not statements of historical
or current fact constitute “forward-looking statements.” Such
forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the Company’s
actual operating results to be materially different from any historical
results or from any future results expresses or implied by such
forward-looking statements. In addition to statements that explicitly
describe these risks and uncertainties, readers are urged to consider
statements that contain terms such as “believes,” “belief,” “expects,”
“expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,”
“plan,” to be uncertain and forward-looking. The forward-looking
statements contained herein are also subject generally to other risks
and uncertainties that are described from time to time in the Company’s
filings with Securities and Exchange Commission.
Contact:
Zunicom, Inc.
Carl A. Generes
214.352.8674
972.715.5700-fax
cgeneres@genereslaw.com
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