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Preferred Voice Install Backlog Now Exceeding $10 Million In Expected Voice
Services Revenue
Company Releases Install Schedule And Plans For Positive Cash Flow
DALLAS, TX Aug. 20, 2001-- Preferred Voice, Inc. (OTC Bulletin Board:
PFVI) announced today that it has a backlog of carrier installations that
management believes should result in annual revenue in excess of $10 million
once such installations and subsequent product rollouts have been completed. The
Company stated that it currently has 26 carrier installations scheduled for the
rest of calendar 2001 and based on the financial results of previous
install/product launches, management believes that the Company should reach a
cash-flow positive position by first quarter of calendar 2002. The Company has
several significant wireless carriers scheduled for installation/product launch
this calendar year, including Dobson Cellular Systems and CenturyTel, with
subscriber bases exceeding 2 million combined. Additionally, the Company has
recently announced plans to begin marketing two new voice recognition services-
BusinessConnect, a voice activated alternative to traditional directory
assistance, and EmmaPR, a voice activated telephone receptionist-through its
nationwide network of carrier partners.
Based on our carriers' recent
successful product rollouts, we believe that we are on the road to consistent
revenue growth and positive cash flow, stated William Schereck, Preferred
Voice's President and COO, We continue to add to our installation schedule
weekly as both wireless and wireline carriers realize the value our enhanced
services add to their offerings.
The Company singled out its recent
conversion to a private VoIP network as one of the significant reasons for the
increasing installation backlog. This new network will enable the Company to
deliver its voice recognition services to any carrier regardless of size or
location and provides Preferred Voice with substantial network management and
cost savings benefits. The conversion was completed this month.
Mr.
Schereck added, We should have this installation backlog cleared by the end of
calendar 2001 and begin realizing the financial results of these new accounts
thereafter. Further, with the introduction of BusinessConnect and EmmaPR
services, revenue growth should be substantially accelerated.
He went on
to state that all current carrier installations are now profitable from an
operational standpoint and that this financial outlook is based on the continued
profitable performance of existing carrier installations, the profitable
performance of scheduled carrier installations, the successful results of the
company's existing marketing programs and subject to obtaining additional
financing. Mr. Schereck also pointed out that a more complete discussion of the
Company's current cash flow situation and need for additional financing are set
forth in its Form 10-QSB/A for the quarter ended June 30, 2001.
About
Preferred Voice, Inc.
Based in Dallas, TX, Preferred Voice, Inc. (OTC BB:
PFVI) is a leading voice recognition technology company that markets its
services to wireless, ILEC and CLEC companies across the United States.
Preferred Voice's enhanced voice services include Safety Talk voice activated
dialing, voicemail navigation, VAC voice accessed content, voice calling cards,
BusinessConnect voice directory assistance and EmmaPR voice telephone
receptionist. All of these voice services overlay on their existing wireless and
wireline phones as a voice alternative to touchtone Preferred Voice has signed
agreements with 38 telecom carriers. These telecom carriers serve more than 4.7
million subscriber lines in 34 states. For more information please visit
www.preferredvoice.com.
This press release contains forward looking
statements. Since all statements about Preferred Voice's plans, estimates, and
expectations are based on current projections that involve risks and
uncertainties, and are subject to change at any time, the Company's actual
results may differ materially from expected results. Readers should consider
these risks and uncertainties, which are discussed in documents filed by
Preferred Voice, Inc. with the Securities and Exchange Commission. These
documents identify important factors that could cause the actual results to
differ materially from those contained in the forward-looking statements.
Preferred Voice, Inc. expressly disclaims any obligation to update any
forward-looking statements.
Company Contact:
Bill Schereck
President / COO
(214) 265-9580
wschereck@preferredvoice.com
Agency Contact:
Ira Weingarten
Equity Communications
(805)
897-1880
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