TAMPA, FL--(MARKET WIRE)--Apr 16, 2008 -- FTS Group, Inc. (OTC BB:
FLIP.OB -
News), an acquisition
and development Company generating positive cash-flow on
over $7 Million in
annual sales for 2007, today announced its full results
for the year ended
December 31, 2007. Below are some of the key achievements
completed during
2007 and year to date 2008. To review the full financial
statement visit
www.sec.gov:
-- 2007 sales of $7,024,300 was a Company record.
-- 2007 free cash flow of $380,394 was a Company record.
-- Year over Year Liabilities dropped $387,997
-- During first three plus months of 2008 paid down over $500,000 in
convertible debt.
-- Completed Liquidity event with Elysium Internet for $2,000,000.
-- Closed largest acquisition in Companies history with the OTG deal.FTS Chairman and Chief Executive Officer Scott Gallagher
commented, "We've
just reported another record year of operating results for
our Company. The
2007 year end resulted in positive EBITDA, Positive Cash-Flow
and Reduced
Debt. In addition to the tremendous results achieved during
the year, so
far in 2008 we've reduced our convertible debt by more than
$500K
surpassing all of last year; we completed the $2 Million
liquidity event
with Elysium Internet
(OTC BB:USBF.OB - News) increasing shareholder value considerably.
And most recently
we acquired IT business assets expected to be almost immediately
accretive
to earnings and post big gains in top line sales during
2008." Gallagher
continued, "I fully expect our share price to improve in
both the short and
long term as a result of the convertible debt reductions
and recent deal
related activities. We're also exploring the possibility
to initiating a
share buy back sometime during the second half of the year.
Right now we'll
continue to use cash generated from operations to pay down
our debt and
grow our business."
A replay of the recent shareholder conference call is available
at
www.FTSGroup.com.
About FTS Group, Inc.
FTS Group, Inc. (OTC BB:FLIP.OB - News) is a publicly traded acquisition
and
development Company focused on acquiring, developing and
investing in cash
flow positive businesses and viable business ventures primarily
those in
the Technology, Wireless and Internet space. The Company
generates revenue
through its three wholly owned subsidiaries: See World Satellites,
Inc.,
FTS Wireless, Inc. and OTG Technologies Group, Inc. For
additional
information about FTS Group, Inc. or any of its wholly owned
subsidiaries
please review the Company's quarterly, annual and other
filings with the
Securities and Exchange Commission at http://www.SEC.gov
or contact the
Company at the e-mail or phone number below.
Forward-Looking Statements
Included in this release are certain "forward-looking" statements,
involving risks and uncertainties, which are covered by
the safe harbor
provisions of the Private Securities Litigation Reform Act
of 1995,
including statements regarding the Company's financial performance.
Such
statements are based on management's current expectations
and are subject
to certain factors, risks and uncertainties that may cause
actual results,
events and performance to differ materially from those referred
to or
implied by such statements. In addition, actual future results
may differ
materially from those anticipated, depending on a variety
of factors, sales
and earnings growth, general economic conditions affecting
consumer
spending, including uncertainties relating to global political
conditions.
Information with respect to important factors that should
be considered is
contained in the Company's Annual Report on Form 10-K and
10-K/A as filed
with the Securities and Exchange Commission. Readers are
cautioned not to
place reliance on these forward-looking statements, which
speak only as of
the date hereof.