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Unity Wireless 2006 Audited Annual Results Achieved Proforma Revenue of $14,650,841 BELLINGHAM, WA--Apr 18, 2007 -- Unity Wireless Corporation (OTCBB: UTYW), today announced the filing of the company’s 2006 10KSB and the release of its annual report. After completing the acquisition of three international wireless technology companies in 2006, Unity Wireless Corp. realized a 50% growth in actual year over year revenue achieving $7,343,552 and proforma revenue (as if all four companies were combined from the start of the year) of $14,650,841. After completing the final acquisition in late August, the company began an aggressive program of cost reduction through consolidation, and revenue increase through the cross pollination of products and markets among the previous four separate entities. Both goals were achieved by year end. In the area of cost reduction Unity’s management achieved head count, facilities, and manufacturing cost savings of at least 50% in all areas: • Integrated manufacturing into a single facility realizing labor savings of over 80% Ilan Kenig, CEO of Unity Wireless Corp, commented, "2006 was a busy year for our team, finalizing three acquisitions one after the other, in a relatively short period of time, completing integration of all three companies into one location, integrating the entire activity under one management team, and rationalizing global manufacturing of all product lines into a unified supply chain. The company is starting this new fiscal year with a strong order backlog, which our centralized manufacturing group is now ramped up and fully prepared to deliver." About Unity Wireless Forward Looking Statements Investor Contact: |
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