SkyPostal Announces 2008 3Q Financial Results....................MIAMI November 14,2008
SkyPostal Networks Announces 2008 Third Quarter Financial Results MIAMI and SANTIAGO – November 14, 2008 – SkyPostal Networks, Inc. (OTC BB: SKPN), the largest private postal network in Latin America, today reported financial results for the third quarter ended September 30, 2008. Third Quarter and Recent Company Highlights
Reported third quarter revenue increase year-over-year to approximately $2.2 million and a net loss of $0.02 per basic and diluted share.
Entered the cross-border parcel post market with the launch of PuntoMio.com, an online shopping facilitator.
Initiated PosTrac GPS addressing and mail tracking system prototype production in Colombia.
Expanded mail processing capabilities in the North Eastern U.S. with Newark International Airport hub opening.
Signed a distribution agreement with Deutsche Post’s DHL Global Mail to extend its wholesale postal mail delivery network to Europe.
Completed reverse merger, changed Company name to SkyPostal Networks and ticker symbol to SKPN.
“Through our established private postal network, we are well positioned to grow our business and capitalize on the international postal market opportunities in the Latin America-Caribbean (LAC) region as well as the emerging private postal European market,” said Albert Hernandez, SkyPostal President and CEO. “We are making steady progress toward our growth strategy to expand our market reach and strengthen our business.
“In October, we entered the estimated $1.8 billion cross-border parcel post delivery market through the introduction of PuntoMio.com. PuntoMio.com facilitates U.S. Internet shopping by offering foreign consumers a U.S. address to receive Internet purchases, and providing low-cost trackable, cross-border parcel post delivery of the order from the U.S. to LAC. We expect to begin generating revenue from this new business segment as early as the fourth quarter of this year. We also plan to extend our private postal network to Europe from the U.S. and LAC through our distribution agreement with Deutsche Post DHL Global Mail, which gives us access to the world’s largest international mail network.
“We are currently seeking additional capital to fund our expansion initiatives and aggressive acquisition strategy. Our plans are designed to consolidate and manage the highly fragmented private postal network in LAC and continue expansion of our private postal network throughout
Europe. As we move forward, we continue to develop strategic logistic and co-marketing partnership agreements in Europe and LAC. We will also work to increase our business with existing customers by offering innovative mail distribution solutions, such as our proprietary GPS and mail tracking PosTrac technology, to augment tonnage and achieve our ultimate profitability objective,” Mr. Hernandez concluded. Third Quarter 2008 Financial Results
SkyPostal generates revenue based on the tonnage of mail delivered, measured in kilograms, based on the distance to deliver, contract terms for committed annual tonnage or service and volume discounts.
Revenue for the three months ended September 30, 2008 increased to $2.2 million, compared with $2.1 million for the prior quarter and $1.9 million for the three months ended September 30, 2007. The year-over-year increase in revenues was largely due to an increase in tonnage of 21.5% year-over-year, partially offset by a 7.8% decrease in revenue per kilogram due to competitive pricing pressure.
Gross margin for the third quarter of 2008 was 18.9%, compared with 9.2% in the prior quarter and 22.1% in the third quarter of 2007. The year-over-year decrease in gross margin was primarily due to an increase in the price of petroleum. The increase in gross margin on a sequential quarter basis was primarily due to price increases in the second quarter of 2008 from the Company’s largest provider of air services to Latin America.
Total operating expenses for the third quarter of 2008 were $3.4 million, compared with $3.1 million in the 2008 second quarter and $2.4 million in the third quarter of 2007. The year-over-year increase in total operating expenses primarily resulted from an increase in general administrative expenses related to increased salaries and benefits from the addition of senior management and administrative staff and increased costs associated with operating as a public company. Operating expenses included stock-based compensation charges of approximately $415,000 in the third quarter of 2008, approximately $202,000 in the second quarter of 2008 and approximately $69,000 in the third quarter of 2007. SkyPostal expects to report quarterly charges associated with stock-based compensation at approximately the same level of its 2008 reported periods as the Company amortizes the cost of a new equity-based compensation plan for employees, directors and advisors on vesting dates over the next three years.
For the third quarter of 2008, net loss totaled approximately $1.4 million, or $0.02 per basic and diluted share based on 55.9 million weighted average shares outstanding. This compares with a net income for the second quarter of 2008 of approximately $378,000, or $0.01 per basic and diluted share based on 54.9 million weighted average shares outstanding. Net loss for the third quarter of 2007 totaled approximately $654,000, or $0.04 per basic and diluted share based on 15.7 million weighted average shares outstanding. The year-over-year increase in total shares outstanding was related to the completion of the SkyPostal Networks’ reverse merger and private placement in April 2008. Capitalization
From March 7, 2008 through September 29, 2008 SkyPostal sold approximately 20.7 million shares of its common stock at $0.50 per share in a private placement for gross proceeds of approximately $10.3 million. The Company used this capital to repay $0.9 million in loans from third parties and amounts owing to shareholders totaling approximately $438,000, as well as for working capital purposes. At September 30, 2008 the Company had no indebtedness.
In October, SkyPostal Networks arranged a commercial/revolving line of credit for up to $1.2 million. The Company will be able to borrow up to 80% of the value of eligible receivables. About SkyPostal Networks, Inc.
SkyPostal is an international wholesale mail distribution company that specializes in hand delivery of commercial mail, periodicals and parcel post into the Latin America-Caribbean (LAC) region. SkyPostal is the largest private postal network in Latin America, delivering more than 60 million mail items each month through its network of local private postal operators. SkyPostal handles mail from European postal administrations, major publishers, mail consolidators, international mailers and financial institutions that require time-defined and reliable delivery of their mail, magazines and mail order parcels. For more information visit www.skypostal.com. Forward Looking Statements
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the Company and its business could cause the Company's actual results to differ materially from those indicated in any forward-looking statements.
Contacts:
Financial Profiles, Inc.
Brandi Floberg
(310) 277-4711
bfloberg@finprofiles.com
SKYPOSTAL NETWORKS, INC. (FORMERLY OMEGA UNITED, INC.) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED) Three Months Ended September 30
Nine Months Ended September 30
2008
2007
2008
2007
NET REVENUES
$
2,166,539
$
1,935,054
$
6,698,652
$
5,826,778
OPERATING EXPENSES
Cost of Delivery
1,756,364
1,507,550
5,509,069
4,470,015
General and Administrative
1,268,830
748,044
3,013,367
1,966,110
Stock Based Compensation
415,122
69,204
1,225,930
207,612
Factoring Fees
—
81,546
95,466
199,552
TOTAL OPERATING EXPENSES
3,440,316
2,406,344
9,843,832
6,843,289
OPERATING LOSS
(1,273,777
)
(471,290
)
(3,145,180
)
(1,016,511
)
OTHER EXPENSES/(INCOME)
Interest
(4,204
)
176,657
376,352
392,023
Reversal of excess of value of put options over the estimated fair value of shares
—
—
(1,600,000
)
—
Other
93,189
6,059
82,462
158,089
TOTAL OTHER EXPENSES/(INCOME)
88,985
182,716
(1,141,186
)
550,112
NET LOSS
$
(1,362,762
)
$
(654,006
)
$
(2,003,994
)
$
(1,566,623
)
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic
55,909,810
15,742,519
44,035,472
15,087,253
Effect of dilutive shares
—
—
—
—
Diluted
55,909,810
15,742,519
44,035,472
15,087,253
NET LOSS PER SHARE:
Basic
$
(0.02
)
$
(0.04
)
$
(0.05
)
$
(0.10
)
Diluted
$
(0.02
)
$
(0.04
)
$
(0.05
)
$
(0.10
)
SkyPostal Launches Internet Shopping Facilitator .................. MIAMI October 22, 2008
SkyPostal Networks Launches New Cross-Border
Internet Shopping Facilitator PuntoMio.com
MIAMI and SANTIAGO –
October 22, 2008 – SkyPostal Networks, Inc. (OTC BB: SKPN), the largest private postal network in Latin America, today announced its launch of a new parcel logistics service under the
PuntoMio brand (www.puntomio.com).
PuntoMio.com offers online international shopping assistance with U.S. e-tailers, and provides international transport, customs clearance and delivery to
cross-border shoppers.
SkyPostal President and
CEO, Albert Hernandez, said, “In line with our growth strategy, we are
leveraging our established private postal network to enter the parcel post
market by facilitating cross-border Internet shopping. The worldwide parcel
market has been growing 8% per year to 6.5 billion items in 2007. The
economical parcel post service offered by the national posts lacks
interconnectivity between the world’s Posts. It does not provide a visible and
seamless merchant-to-consumer cross-border service as provided by the costly
private express couriers like FedEx and UPS. PuntoMio.com combines proven B2C
logistics know-how, mail delivery network and catalog marketing experience to
offer on-line merchants the opportunity to market their products to
international customers without the inherent risks associated with cross-border
parcel delivery.
“According to online
catalog merchants, in some Latin American countries as much as 40% of cross-border
Internet purchases shipped via the public postal service network do not
arrive,” Mr. Hernandez continued. “The parcels either disappear in the local
customs or postal facilities or are ‘mis-delivered.’ Due to high customer
service complaints many U.S. e-tailers have previously avoided international
online sales. Our solution includes parcel tracking, delivery and customs cost
visibility and free return services, while guiding the international shopper
throughout the process.”
PuntoMio.com
subscribers are provided a physical U.S. address in Miami, which serves as
their shipping address when making Internet purchases from US stores.
Merchandise is delivered to their U.S. address at which point SkyPostal assumes
responsibility for international transport and associated logistics including
customs clearance and final delivery to the customer. PuntoMio.com also assists
the shopper by providing product price and merchant rating comparisons through
web integration with Price Grabber. Customers are directed to secure payment options
such as Google Checkout and PayPal and provided with a cost estimator, which
enables the buyer to determine the total purchase cost including
transportation, customs duties, taxes and delivery. The service also provides
complete online tracking as the parcel moves from the PuntoMio.com-provided
address to its final delivery destination. Free international merchandise
return shipping to Miami plus returns handling back to the merchant is also
provided.
About PuntoMio.com
PuntoMio.com is an
online shopping portal that facilitates the experience of the online
international shopper and U.S.-based Internet merchants, from merchant
selection through cross-border delivery. PuntoMio.com is designed to be the only
web address international shoppers need to realize all of their online
purchases from the United States. PuntoMio.com provides its partners and
potential e-tailers everything they need to successfully launch an
international shopping service, including consistent promotional offers to
existing customers to promote year-round shopping and product expansion.
PuntoMio.com’s offering
includes product pricing comparison, secure online purchasing and delivery
capabilities, cost estimator and merchandise return capability. Additionally,
PuntoMio.com addresses many of the challenges of online cross-border shopping –
lack of familiarity with U.S. clothing sizes, expensive express-courier
delivery services, U.S. merchants that do not accept foreign credit cards, lack
of an integrated parcel return system, unexpected and high fees associated with
customs duties and taxes, and poor parcel post service provided by the national
postal service in their local country. For more information visit www.puntomio.com.
About SkyPostal
Networks, Inc.
SkyPostal is an
international wholesale mail distribution company that specializes in hand
delivery of commercial mail, periodicals and parcel post into the Latin
America-Caribbean (LAC) region. SkyPostal is the largest private postal network
in Latin America, delivering more than 60 million mail items each month through
its network of local private postal operators. SkyPostal handles mail from
European postal administrations, major publishers, mail consolidators,
international mailers and financial institutions that require time-defined and
reliable delivery of their mail, magazines and mail order parcels. For more
information visit www.skypostal.com.
Forward Looking
Statements
This press release
contains forward looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. All forward-looking statements are inherently
uncertain as they are based on current expectations and assumptions concerning
future events or future performance of the Company. Readers are cautioned not
to place undue reliance on these forward-looking statements, which are only
predictions and speak only as of the date hereof. Risks and uncertainties
applicable to the Company and its business could cause the Company's actual
results to differ materially from those indicated in any forward-looking
statements.
SkyPostal Opens New Newark Airport Facility . . ..................MIAMI July 23, 2008
SkyPostal Networks Continues
Expansion to the North East Region with Newark Airport Facility
Addition
MIAMI Jul 23, 2008 --(BUSINESS WIRE)-- SkyPostal Networks,
Inc.
(OTCBB:SKPN), an international wholesale mail distribution company
specializing in hand delivery of commercial mail and periodicals to the Latin
America-Caribbean region (LAC), announced today the opening of a new facility at Newark
Airport to handle its mail and parcel post traffic to and from the UK and Europe. The new
facility will service existing customers throughout the North-East and serve new
business the company expects to gain from its recent key strategic marketing agreement
with Deutsche Post’s US Division – DHL Global Mail.
By capitalizing on the ability to utilize Deutsche Post’s global
network, the SkyPostal expansion into Newark will facilitate the introduction of service
to Europe. Newark Liberty Airport last year handled over 1 million tons of cargo and is a
major hub for large international mailers. "The operations at Newark will help us gain new business by
having a local presence in the North East region. By changing and expanding our shipment
processing locations, we reduce line haul costs and improve transit times. Mail
shipments normally processed through our Miami hub can now be routed more efficiently to Europe
and certain LAC destinations through the Newark location,” said Albert P.
Hernandez, SkyPostal’s President and CEO. “This development allows SkyPostal to increase
the rate of international expansion while improving service quality. We
anticipate even greater growth potential in the near future with the addition of hand
delivery service to Europe.”
About SkyPostal, Inc.
SkyPostal, Inc., based in Miami, Fla., is an international wholesale
mail distribution company that specializes in offering hand delivery of commercial
mail, periodicals and parcel post into the LAC region. SkyPostal is one of the largest
private mail networks in Latin America, handling mail from European postal administrations,
major publishers, mail consolidators, international mailers and financial
institutions that require timedefined and reliable delivery of their mail, magazines and mail order
parcels.
Forward-Looking Statement
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently
uncertain as they are based on current expectations and assumptions concerning
future events or future performance of the company. Readers are cautioned not to place
undue reliance on these forward-looking statements, which are only predictions and
speak only as of the date hereof. Risks and uncertainties applicable to the Company and
its business could cause the Company's actual results to differ materially from those
indicated in any forward-looking statements.
SkyPostal Completes $10 million Private Placement ............... MIAMI June 17, 2008
SkyPostal
Networks Completes $10 million Private Placement
Funding will be used to improve the
SkyPostal private postal network with the rollout of it GPS delivery
confirmation system
MIAMI June 17, 2008 --(BUSINESS WIRE)-- SkyPostal Networks, Inc. (OTCBB:SKPN - News), an international mail
distribution company specializing in hand delivery of commercial mail and periodicals
to the Latin America-Caribbean region (LAC), proudly announces
the completion of a private placement financing totaling $10 million. Falcon Capital, a boutique investment banking firm based
in London, acted as placement agent for the financing.
The
Company also announced it converted approximately $3.2 million of debt into equity
in the form of common shares. The new combined capitalization of over $13
million strengthens SkyPostal’s now totally debt free balance sheet.
The net
proceeds of the offering will be used to improve the hand delivery network in
LAC with the deployment of its GPS delivery confirmation system, expand services
to customers, and for potential acquisitions. "We believe this
financing will enable SkyPostal to substantially accelerate progress toward our
key strategic initiatives and solidify our market presence” said Albert P.
Hernandez, SkyPostal President and CEO. “With recent developments and the
closing of this private placement, SkyPostal will be able to consolidate its
network in LAC and expand its service offering to Europe. With this additional
capital, we will be able to fast track the growth of the company both
organically and through strategic acquisitions.”
SkyPostal has
exclusive agreements in place with over 20 major private postal services in 20
different countries throughout the LAC region for the delivery of commercial
mail, periodicals and parcel post .
About Falcon Capital
Falcon
Group is an international group of consulting firms dedicated to providing a
wide range of services to businesses of all sizes and in particular to deliver
business development and change management advice to small and medium companies
across a wide range of industries in both developed and emerging markets with
particular emphasis on India. Working from the solid foundations and
successful track record dating back to 1998 of its predecessor, Falcon Capital
Partners Limited, Falcon International Consulting Limited, the lead partner of
the group, serves a client base of over 1500 banks, institutions and others,
including high net worth individuals located in over seventy countries across
six continents
About SkyPostal, Inc.
SkyPostal, Inc.,
based in Miami, Florida, is an international mail distribution company that
specializes in offering hand delivery of commercial mail, periodicals and
parcel post into the LAC region. SkyPostal is one of the largest private mail
networks in Latin America handling mail from European postal administrations,
major publishers, mail consolidators, international mailers and financial
institutions that require time-defined and reliable delivery of their mail,
magazines and mail order parcels.
Forward-Looking
Statement:
This release contains
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. All forward-looking statements are inherently uncertain as
they are based on current expectations and assumptions concerning future events
or future performance of the company. Readers are cautioned not to place undue
reliance on these forward-looking statements, which are only predictions and
speak only as of the date hereof. Risks and uncertainties applicable to the
Company and its business could cause the Company's actual results to differ
materially from those indicated in any forward-looking statements.
SkyPostal Announces Record Revenue Growth .................. MIAMI May 16, 2008
SkyPostal Networks Announces Record Revenue Growth
SkyPostal Delivers Private
Postal Delivery Service to Latin-America, Caribbean and Mexico Regions
MIAMI May 16, 2008 --(BUSINESS WIRE)-- SkyPostal (OTCBB: SKPN - News), an international mail distribution company
specializing in hand delivery of commercial mail and periodicals to the Latin
America-Caribbean region (LAC), today announced record financial results for
the first quarter of 2008.
The results include sales of $2,440,801 a 40% increase
over the previous year's first quarter revenues of $1,747,765, demonstrating
the success of the Company's initiatives to become one of the largest
facilitators of mail delivery from Europe and the US into LAC, reliably
delivering more than 130 tons of mail per month into the region.
Financial results also showed an improvement in total
operating margins. Margins increased from 17% to 24% compared to the first
quarter last year. EBITDA also improved 11% in the same period. “We are very
pleased to see our margins increasing together with the EBITDA and record
revenue growth. The Company is committed to further expanding while keeping
operational expenses as low as possible. We anticipate that margins will
continue to increase as we further establish our presence in the LAC and
improve our operational efficacy,” states Albert P. Hernandez, SkyPostal’s
President and CEO.
Although financial results reflected increased tonnage
and revenue, higher revenue per kilogram, lower delivery cost per kilogram and
the resultant better margin between revenue and delivery cost per kilogram, net
loss for the first quarter of 2008 increased to $1,030,499 from $445,418
reported for the first quarter of 2007. The net loss increase was in part due to
non-recurring and non-cash expenses.
The Company has exclusive agreements in place with
over 20 major private postal services in 20 different countries throughout the
LAC region for the delivery of commercial mail, periodicals and parcel post. “Our
investment in 2007 has provided a solid groundwork for a strong 2008.” Mr.
Hernandez commented.
SkyPostal anticipates continued growth in the coming
year, expecting to increase its market share of the non-time critical segment.
The UPU estimates that the potential LAC market, on a regional basis, currently
exceeds $1 billion. . In 2004, LAC population exceeded 530 million, and
received an estimated 11 billion items of mail.
Mr. Hernandez adds, "We are continuing to execute
and improve upon our business model, and we believe that the Company will
continue to aggressively grow its revenue and efficiencies in 2008. Our
management team has done an extraordinary job positioning the Company to
continue increasing its penetration in the industry. Simultaneously, they have
created a powerful entrepreneurial spirit to enable the Company to generate
strong revenue and net income growth while providing the best service
possible.”
About SkyPostal, Inc.
SkyPostal, Inc., based in Miami, Florida, is an
international mail distribution company that specializes in offering hand
delivery of commercial mail, periodicals and parcel post into the LAC region.
SkyPostal is one of the largest private mail networks in Latin America handling
mail from European postal administrations, major publishers, mail consolidators
international mailers and financial institutions that require time-defined and
reliable delivery of their mail, magazines and mail order parcels.
Forward-Looking Statement:
This release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended. All
forward-looking statements are inherently uncertain as they are based on
current expectations and assumptions concerning future events or future performance
of the company. Readers are cautioned not to place undue reliance on these
forward-looking statements, which are only predictions and speak only as of the
date hereof. Risks and uncertainties applicable to the Company and its business
could cause the Company's actual results to differ materially from those
indicated in any forward-looking statements.