Epixtar Corp Reports Year-End Operating Results

Monday, April 21, 2003 - 9:29 am ET

Fourth Quarter Revenues and Earnings Confirm Prior Published Estimates

MIAMI - April 21 /PRNewswire-FirstCall/ - Epixtar Corp. (OTC Bulletin Board: EPXR - News) today reported fourth quarter and year-end operating results confirming preliminary operating results announced March 13, 2003.

Revenues for the year ended December 32, 2002 were $26,251,000 with a loss of $2,446,000 or ($.23) per share. This compares to revenue of $1,190,000 with a loss of $16,519,000 or ($2.13) per share in the previous fiscal year as restated.

Revenues for the fourth quarter ended December 31, 2002 were $13,116,000 with net income of $ 1,529,000 or $.15 per share. This compares to revenues of $965,000 with a net loss of $12,014,000 or ($1.15) per share in the comparable period in 2001. The 2001 fourth quarter loss includes $10,127,000 from the discontinuance of the business activities associated with a subsidiary.

"Clearly, the very positive results of the fourth quarter reflect the validation of our business model," said William Rhodes, President and Director. "We are continuing to expand our product offerings and at the same time we are attempting to reduce overhead and operating costs wherever possible."

ABOUT EPIXTAR

Epixtar Corp., located in Miami, Florida, develops communications-related service bundles designed chiefly for the small-to-medium sized business market. This approach leverages proven, highly efficient sales techniques that account for over $239 billion or 44% of all direct B2B sales. In four years, Epixtar has launched five brands realizing success by creating strong value chains to satisfy market demand. Epixtar focuses primarily on value-added ISP and telecommunications services.

SAFE HARBOR STATEMENT

This release contains statements about expected future events and financial results that are forward-looking. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Actual results could be affected by a downturn in the economy, new competitive products, slower rate of growth in member base, higher than anticipated cancellations, unforeseen expenses, or technical failure related to self generating web site development or inability to scale server capacity to meet demand. Forward-looking statements include the information concerning our possible or assumed future results of operations. Forward-looking statements also include those preceded or followed by the words: "anticipates," "believes," "estimates," "hopes" or similar expressions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Source
EPIXTAR CORP.