AirNet Communications Announces $6M In Cash Collections Melbourne, FL, February 28, 2002 -
AirNet® Communications Corporation (NASDAQ: ANCC), the technology leader in
software defined base station products for wireless communications, today
announced that the first two months
of fiscal year 2002 have been a record for customer cash collections. The
company has collected more than $6M in cash during the first two months of
this year.
"Our team continues to execute on the
'turn-around' strategy for the company," said Glenn Ehley, CEO of
AirNet Communications Corporation. "The company's cash position as of
today exceeds the December 31, 2001 year end balance. This improved cash
flow is further proof that our efforts in containing costs and expenses
together with our emphasis on collections over the last six months is paying
off for the stakeholders. We will also continue to focus on near term sales
opportunities which may yield immediate and tangible benefits to the
Company." Further information pertaining to cash flow
and other financial results will be available on the company's conference
call for the fourth quarter and 2001 fiscal year scheduled for March 26,
2002. The teleconference is scheduled to begin at 5:30 p.m. Eastern time and
is expected to last approximately 45 minutes. Those interested in listening
to the conference call should dial 719/457-2728. For those who cannot
participate in the live conference call, a replay will be available
beginning at 8 p.m. ET on Tuesday, March 26, until midnight ET on Tuesday,
April 2, 2002. The replay number for the conference call is 719/457-0820 and
the pass code is 494608. About AirNet AirNet Communications Corporation is a leader in wireless base stations and other telecommunications equipment that allow service operators to cost effectively and simultaneously offer high-speed wireless Internet and voice services to mobile subscribers. AirNet's patented broadband, software-defined AdaptaCell™ base station solution provides a high capacity base station with a software upgrade path to the wireless Internet. The Company's AirSite Backhaul Free™ base station carries wireless voice and data signals back to the wireline network, eliminating the need for a physical backhaul link, thus reducing operating costs. AirNet has 69 patents issued or pending and has received the coveted World Award for Best Technical Innovation from the GSM Association, representing over 400 operators around the world. More information about AirNet may be obtained by calling 321.984.1990, or by visiting the AirNet Web site at www.airnetcom.com. For More Information: Stuart P. Dawley Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 The statements contained in this press release that are not historical information are forward-looking statements that relate to future events or our future financial performance, including statements regarding our expectations, beliefs, plans, estimates, intentions or strategies for the future. Forward looking statements include statements regarding the transition and evolution to high-speed data and wireless Internet services, future sales to customers and customer deployment plans. All forward-looking statements included in this release are based upon information available to AirNet Communications Corporation as of the date hereof and we assume no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause our actual results to differ materially from those projected. Potential risks and uncertainties include, but are not limited to, our limited customer base may cause cash flow issues, competitive pressures may reduce gross margins, we may not be able to support developing wireless standards and protocols, we may not be able to develop new products and features, and credit risks from financed customers may hurt our results or require us to raise additional capital. These and other risks are discussed in Company filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2000. AirNet® and AirSite® are registered trademarks with the U.S. Patent and
Trademark Office. The stylized AirNet mark, AdaptaCell™, Super Capacity™,
Backhaul Free™, and We're Ready for Anything™ are trademarks of AirNet
Communications Corporation. Other names are registered trademarks or
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