DURHAM, N.C., Aug. 21, 2008 (GLOBE NEWSWIRE) -- GigaBeam Corporation (Pink Sheets:GGBM), announced today that as of last week it has sold more links to date in 2008 than were sold during all of 2007, achieving yet another goal set by management at the onset of this year. The Company recently received two purchase orders totaling 9 links that brought the total links ordered to date in 2008 up to 79. In addition to these link orders, the company has also had orders for its new products, which are not included in this number. The total number of links sold in all of 2007 was 78. The Company had reported in a recent Letter to Shareholders that this accomplishment was imminent and that it was achieved on roughly half of the cash requirements compared to 2007.
"Reaching this milestone is a good indication that we are on a favorable trajectory as a business," said S. Jay Lawrence, Chief Executive Officer of GigaBeam Corporation. "We remain committed to focusing on our product sales, containing operating costs, keeping our customer service levels high and responding to customer and market needs. This is one of many milestones we have set for ourselves. We have come a long way but still have a long way to go as we continue to build the GigaBeam business."
GigaBeam set out this year, as noted in the Company's January Letter to Shareholders to reduce operating costs, to expand the equipment product line and focus on sales and service to customers. As stated in repeated communications, the Company remains focused on producing positive cash flow and ultimately profitability. Surpassing 2007 unit sales is a key milestone in that effort.
About GigaBeam Corporation:
GigaBeam is a provider of fixed wireless communication equipment. The Company is the industry leader in the upper millimeter wave communication bands from 71GHz to 86GHz and has offerings in other bands including 4.9GHz, 5.8GHz, and 18GHz and is considering other product offerings as well. GigaBeam's core products in the 70/80GHz band are immune to interference or interception, can be very densely deployed, and have inexpensive licensing to offer users protection. GigaBeam's product portfolio currently has products from 10Mbps to 1,000Mbps (Gigabit Ethernet). These products are point-to-point, point-to-multipoint, line-of-sight and non-line-of-sight. The combined offering can provide ultra broadband high-speeds for core network applications and lower speed and economical edge/access offerings. The aggregate business strategy for GigaBeam will be to provide an expanded portfolio of products from 10Mbps to 10,000Mbps in concert with the demands of our marketplace. GigaBeam products have been deployed in over 20 countries worldwide. Current GigaBeam users include many enterprise customers and cities globally, universities, medical centers, banks, various departments/ministries of defense, and other government agencies globally. To learn more about GigaBeam's revolutionary wireless technology, please visit www.gigabeam.com.
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Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties. You should not place undue reliance on these forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in our annual report on Form 10-K and other reports we file with the Securities and Exchange Commission. 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. We do not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in our expectations, except as required by law
CONTACT: GigaBeam Corporation
Marijke McCandless, Director of Corporate Communications
919-599-6210
mmccandless@gigabeam.com
