Epixtar
Announces '03 Financial Results - Change in CEO
Wednesday, April 14, 2004 - 1:50 pm ET
$37 Million in Revenue Is 40% Increase
Over 2002
MIAMI - April 14 /PRNewswire-FirstCall/ - Epixtar Corp. (OTC
Bulletin Board: EPXR - News) today announced financial results
of operations for the year ending December 31, 2003, and filed
its annual report on form 10KSB.
2003 *2002
Revenue 37,121,277 26,250,851
Net Income (Loss) 4,379,160 (11,944,922)
*Restated
The Company also announced that its 10KSB disclosed that Martin
Miller will retire as chief executive officer. He will remain
as non-executive chairman of the board and continue his active
commitment to the Company, providing consulting and advisory
services. Mr. David Srour, currently chief operating officer,
will become chief executive officer. The change will take
place on or before April 21, 2004.
Mr. Miller stated that "The change is being made in
conjunction with our transition to a business process outsourcing
company, and I am confident of Mr. Srour's abilities in this
area."
About Epixtar
Epixtar Corp. is the parent company of Epixtar BPO Services
Corp., Epixtar Communications Corp. (ECC) and the NOL Group,
Inc. (NOL). ECC is a wholesale telecommunications provider.
NOL provides Internet services to small- and medium-sized
businesses.
Epixtar BPO Services Corp., Epixtar's most active subsidiary,
is a business process outsourcing (BPO) company, aggregating
contact center capacity and robust telephony infrastructure
to deliver comprehensive, turnkey services to the enterprise
market. From campaign design through ongoing management, Epixtar
delivers value-driven, creative outsourcing solutions for
the customer relationship management (CRM) and telesales initiatives
of third- party companies. Companies use Epixtar's marketing
expertise and well-trained personnel to acquire, support,
and enhance the customer experience, reduce costs and generate
top-line revenue. Epixtar's corporate headquarters is in Miami,
Florida and it currently maintains two contact centers in
Manila, Philippines, with developmental plans to expand to
additional centers over the next 24 months.
Forward-Looking Statements
This Press Release may contain "forward-looking statements,"
regarding Epixtar's business, customers, partners, future
products and services, estimates of future business prospects
or financial results, statements regarding Epixtar's objectives,
expectations, intentions, beliefs or strategies, or statements
containing words such as "believe," "project,"
"expect," "intend," "may," "anticipate,"
"plans," "seeks," or similar expressions.
It is important to note that Epixtar's actual results could
differ materially from those in such forward-looking statements,
and undue reliance should not be placed on such statements.
Among the important factors that could cause such actual results
to differ materially are (i) the timing of significant orders
for Epixtar's products and services, (ii) variations in the
terms and the elements of services offered under Epixtar's
standardized contract for future service offerings, (iii)
changes in applicable accounting principles, (iv) difficulties
or delays in implementing Epixtar's service offerings, (v)
failure to achieve sales, marketing and other objectives,
(vi) construction delays of new call centers, (vii) delays
in Epixtar's ability to develop new products and services
and market acceptance of new products and services, (viii)
rapid technological change, (ix) loss of significant customers,
(x) risks inherent in conducting business abroad, (xi) currency
fluctuations, (xii) fluctuations in business conditions and
the economy, (xiii) Epixtar's ability to attract and retain
key management personnel, (xiv) the marketplace's continued
acceptance of Epixtar's service offerings, (xv) Epixtar's
ability to continue the growth of its support service revenues
through additional technical and customer service centers,
(xvi) Epixtar's ability to further penetrate into vertically
integrated markets, (xvii) Epixtar's ability to expand its
global presence through strategic alliances and selective
acquisitions, (xviii) Epixtar's ability to continue to establish
a competitive advantage through sophisticated technological
capabilities, (xix) the ultimate outcome of certain regulatory
actions, (xx) Epixtar's ability to recognize deferred revenue
through delivery of products or satisfactory performance of
services; and (xxi) Epixtar's continued ability to attract
and obtain adequate financing (xxii) other risk factors listed
from time to time in Epixtar's registration statements and
reports as filed with the Securities and Exchange Commission.
All forward-looking statements which may be contained in this
Press Release are made as of the date that such statements
are originally published or made, and Epixtar undertakes no
obligation to update any such forward-looking statements.
For those statements, we claim the protection of the safe
harbor for forward-looking statements contained in Section
27A of the Securities Act, Section 21E of the Exchange Act,
and the Private Securities Litigation Reform Act of 1995.
Contact: Harry B. Fozzard, hfozzard@epixtar.com
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Source: Epixtar Corp.
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