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Comarco Gets Cash

Comarco has recently received or expects to receive additional payments through its agreements with former partner SwissQual

January 25, 2007

2 Min Read

LAKE FOREST, Calif. -- Comarco, Inc. (Nasdaq: CMRO - News), a leading provider of wireless test solutions, wireless emergency call box systems, and ChargeSource mobile power products for notebook computers, cellular telephones, and other handheld devices, today announced that it has recently received or expects to receive additional payments through its agreements with former partner SwissQual AG, acquired by Spirent plc in January 2006, that will favorably impact its financial results for the fourth quarter ending January 31, 2007.

The Company anticipates that it will receive approximately $1.1 million in revenue in the fourth quarter under its distribution and sales agreement with SwissQual for product sales in the European market. It also has received or expects to receive an additional $1.9 million as part of an earn out that will be recorded as a gain on sale of investment also in the fourth quarter. Finally, the Company expects to receive an additional escrow distribution totaling up to $1.6 million during the course of fiscal 2008.

"These payments from SwissQual will allow us to achieve profitability in the fourth quarter of fiscal 2007 and further strengthen our balance sheet," said Comarco President and CEO, Tom Franza. "During the first half of fiscal 2008, we will continue to execute on our growth strategies. In our WTS business, we are moving forward on developing the next-generation 3G and 4G wireless network optimization test and QoS systems through our alliance with ASCOM AG, a leading Swiss company with the largest installed base of wireless QoS systems in the world. In ChargeSource, we remain focused on expanding our business through multiple non-exclusive distributors and new OEM customers. As previously disclosed in our third quarter earnings press release, we expect these important initiatives to take several quarters to get established and begin to contribute to our financial results," concluded Franza.

Comarco Wireless Technologies Inc. (Nasdaq: CMRO)

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