NeoWave reports the year 2004 sales at Korean Won 32.4 billion

NeoWave the next generation wireline and wireless access network equipment/systems supplier (CEO & President, DooWhan Choi, www.neowave.co.kr), officially announced on Feb. 4th, 2005 that the year 2004 achievements are tentatively recorded with the annual sales at KRW 32.4 billion and the net profit at KRW 3.5 billion. Above numbers indicate the sales increase at 37.2% and the profit increase at 325.6% from the last year, which is a remarkable achievements considering severe slowdown of the telecommunications equipment/systems market.

The significant increase in revenue and profitability as above owes to diversification of the market adding the customers list such as DACOM, increase of the replacement equipment procurements by major customers including KT, and continuous efforts to reduce cost in the face of the price reduction against severe competitions.

Based on the rapid and significant growth in revenue and profitability in 2004, NeoWave plans to pay dividend at Korean Won 50 in cash per each share which is a 40% increase from the last year.

NeoWave was founded in 1998, is KOSDAQ registered, and specialized in the design, manufacture, and sale of the fiber optics Internet access network systems that integrate the fiber optics and the Internet access technologies.