MONTRÉAL, Aug. 24, 2018 (GLOBE NEWSWIRE) -- Siyata Mobile Inc. (the "Company" or "Siyata") (TSX-V:SIM / OTCQX:SYATF) is pleased to announce it will be releasing its 2018 Q2 financials August 29th, 2018 and will be hosting a conference call to discuss these results on Thursday August 30th, 2018 at 9:00 AM EDT (6:00 AM PDT).
As previously announced on July 9th, 2018, combined with a highly successful early launch of its 4G/LTE Push-to-Talk Over Cellular (PoC) device portfolio over the second quarter, the Company achieved sales in excess of $5-million. The growth in revenue comes after the two previous quarters were focused on shifting new and existing customers from legacy 3G products to the new 4G/LTE portfolio. Purchase orders were received by cellular operators, two-way radio vendors and distributors around the globe and sold to first responders, municipalities, hotels, bus, and other logistics and transportation companies. The company also reports it is receiving excellent feedback from the carriers that are selling the 4G portfolio and its end use customers.
Marc Seelenfreund, Chairman and CEO of Siyata commented, "We had a strong second quarter with a focus on our 4G Push to Talk product portfolio which also allowed us better gross margins than what we had historically. In addition to our growing sales worldwide, we are making great progress towards our UV350 launch with the North American Tier 1 cellular operators and will provide an update on the conference call."
Siyata's revenue since the launch was greater than any other portfolio in the company's history and is a telling sign of the strong demand from cellular operators and their customers looking to replace aging two-way radio technology to smarter, more advanced, 4G/LTE systems to communicate. Android-based applications and other features available on Siyata's devices help improve driver/worker safety and enterprise efficiencies not offered by traditional two-way radios and is a major selling feature of Siyata's 4G/LTE devices. As cellular operators generally do not generate revenue from two-way radio communication, there is a strong push for cellular operators around the world to gain market share from two-way radio network providers. In order to do this, cellular operators need to replace two-way radio systems with cellular-based hardware to be compatible on their network with a SIM card.
To view Siyata’s recent marketing video on the innovate Uniden® UV350, please click here:
The company will hold the conference call on Thursday August 30th, 2018 at 9:00 AM EDT (6:00 AM PDT) to discuss the quarterly, along with a Q&A session with Siyata Mobile CEO and Chairman, Marc Seelenfreund.
Details of the conference call:
Date: Thursday August 30th, 2018 Time: 9:00 AM EDT (6:00 AM PDT) North America dial-in number: 1 (866) 521-4909 International dial-in number : 1 (647) 427-2311
There will also be a playback of the conference call, available in MP3 format by contacting investor relations below.
About Siyata
A TSX Venture Top 50 Company, Siyata Mobile Inc. is a leading global developer and provider of cellular communications systems for enterprise customers, specializing in connected vehicle products for professional fleets, marketed under the Uniden® Cellular brand. Since developing the world’s first 3G connected vehicle device, Siyata has been a pioneer in the industry, launching the world’s first 4G LTE all-in-one fleet communications device in 2017. Incorporating voice, Push-to-Talk Over Cellular, data, and fleet management solutions into a single device, the company aims to become the connected vehicle communications device of choice for commercial vehicles and fleets around the world.
Siyata also offers rugged phones for industrial users and signal boosters for homes, buildings, and fleets with poor cell coverage. Siyata’s customers include cellular operators, commercial vehicle technology distributors, and fleets of all sizes in Canada, the U.S., Europe, Australia, and the Middle East.
Visit www.siyatamobile.com and http://www.unidencellular.com/ to learn more.
On Behalf of the Board of Directors of: SIYATA MOBILE INC. Marc Seelenfreund CEO and Chairman
Investor Relations: Arlen Hansen Kin Communications 1-866-684-6730 SIM@kincommunications.com
Sales Department: Glenn Kennedy, VP Sales Siyata Mobile Inc. 416-892-1823 glenn_kennedy@siyatamobile.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
