MediaG3 Philippines Market Deployment on Schedule
MediaG3, Inc. [[MDGC.OB]], a leading developer of broadband wireless products and interactive rich-media content delivery applications, today announced that its deployment schedule for the Philippines market has been finalized for timely execution.
MediaG3 is pleased to report significant progress in moving from the planning stage to the execution stage, with specific timelines and revenue objectives from our network implementation project in the Philippines. The schedule calls for 24 MediaG3 LMDS broadband wireless systems and 7,303 customer premise equipment packages (known as CPE’s), worth an estimated $7 million in revenue to MediaG3 to be delivered in 2009. The revenue will be recognized as the system equipment is successfully delivered to customers providing services for businesses as well as consumers in the Philippines.
“While we are very excited about this major milestone, we also recognize some challenges ahead of us, including engineering resources, manufacturing cycles and time to delivery,” said William Yuan, CEO of MediaG3. “However, we are confident that we can deploy sufficient resources to fulfill the contract requirements in 2009,” added Yuan.
MediaG3 will also have a stake in the Philippines venture in addition to being an equipment supplier. This will allow MediaG3 to benefit from recurring service-based revenues from the ongoing operations in the future.
Joseph Anzalone, MediaG3’s SVP of Operations, will be directly involved with the management of the Philippines venture. “Successful execution is the key to meeting our revenue objectives both from hardware sales and the resulting services platform,” said Mr. Anzalone. “We will play a critical role in the business development of the Philippines’ market.
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