TROY, Mich., Sept. 17, 2013 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER), is pleased to announce that the Company has now generated revenues of $1.26 million since May from its U.S. wireless operation division for work already completed through September 12th.
Viper Networks is now established with ongoing work orders that generate approximately $500,000 in monthly revenues. Even though the Company anticipates further expansion throughout the year ahead, Viper Networks is conservatively projecting twelve month revenues of $6 million (Sept. to Sept.) based on the current revenue run rate from existing projects from their U.S. wireless network infrastructure projects alone.
As announced earlier, Viper Networks has signed a three year contract with a leading North American infrastructure construction company, to help in upgrading several major carriers' wireless infrastructure networks throughout the United States.
After providing wireless cell tower installation, electrical wiring, engineering and maintenance services beginning in May in one state (MN); Viper Networks' workload has expanded rapidly as they are now operating in six states, including: Illinois, Indiana, Michigan, Ohio, Wisconsin and Minnesota.
Regarding the Company's LED division and recent developments; the expected trip by Viper Networks CEO to Colombo, Sri Lanka in late August was rescheduled to the week of Monday September 23rd through the 27th due to scheduling conflicts with several officials from Colombo and one of Sri Lanka's Ministries.
The scheduled talks are a follow up to the Company's LED pilot program in Sri Lanka earlier this year (in partnership with Apollo Metro Solutions) and are expected to further developments by addressing potential terms and conditions for the country's first LED light order for the Company.
Mr. Farid Shouekani, President and CEO of Viper Networks, Inc., comments: "After our successful LED pilot programs in the U.S. and Sri Lanka, we look forward to securing our first LED order abroad and showcasing the quality of our LED light products on a much larger scale."
Viper's CEO continued: "The majority of LEDs are manufactured in China. The quality of our LED lights is far superior and now we are also cost competitive. Knowing this, much of what should define the scope of our future success will be largely based on intelligently expanding our partner's (Apollo Metro) manufacturing capabilities. In this we are confident and excited about meeting the challenges as we strive to become a leading LED solution provider worldwide."
For additional information, see www.ViperNetworks.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
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Source:Viper Networks, Inc.