EX-99.1
8
ex991.htm
EXHIBIT 99.1
Unassociated Document
Exhibit
99.1
PRESS
RELEASE SOURCE: WPCS International Incorporated
WPCS
Completes Acquisition of Voacolo Electric
EXTON,
PA - (PR Newswire - First Call) - April 2, 2007)
WPCS
International Incorporated (NASDAQ: WPCS), a leader in design-build engineering
services for specialty communication systems and wireless infrastructure, has
announced that it has completed the acquisition of Voacolo Electric Incorporated
for $2.5 million in cash and stock at closing with an additional earn out to
be
paid upon the achievement of a certain earnings target over a 12 month period
from the closing date.
Historically
profitable, Voacolo Electric is projected to achieve approximately $7.1 million
in revenue and $1.1 million in earnings before interest and taxes for their
current fiscal year ending September 30, 2007. Over the past several years,
gross margins have averaged approximately 30%.
In
addition to the completion of the acquisition of Voacolo Electric, WPCS has
announced that it has mutually agreed to terminate discussions to acquire ATC
International as previously discussed in a press release issued February 12,
2007.
About
WPCS International Incorporated:
WPCS
provides design-build engineering services for specialty communication systems
and wireless infrastructure including site design, product integration and
project management. The company has an extensive customer base that includes
corporations, government entities and educational institutions. For more
information, please visit www.wpcs.com
Statements
about the company's expectations, including revenue and earnings and all other
statements in this press release, other than historical facts, are "forward
looking" statements and are made pursuant to the safe harbor provisions of
the
Private Securities Litigation Reform Act of 1995. Such forward looking
statements involve risks and uncertainties and are subject to change at any
time. The company's actual results could differ materially from expected
results. In reflecting subsequent events or circumstances, the company
undertakes no obligation to update forward-looking statements.
Contact:
Carol
Lindley / WPCS International Incorporated
610-903-0400
x100
ir@wpcs.com

EX - 99 . 1 8 ex991 . htm EXHIBIT 99 . 1 Un associated Document Exhibit 99 . 1 PRESS RELEASE SOURCE : WPCS International Incorporated WPCS Completes Acquisition of Voacolo Electric EXTON , PA - ( PR Newswire - First Call ) - April 2 , 2007 ) WPCS International Incorporated ( NASDAQ : WPCS ) , a leader in design - build engineering services for specialty communication systems and wireless infrastructure , has announced that it has completed the acquisition of Voacolo Electric Incorporated for $ 2.5 million in cash and stock at closing with an additional earn out to be paid upon the achievement of a certain earnings target over a 12 month period from the closing date . Historically profitable , Voacolo Electric is projected to achieve approximately $ 7.1 million in revenue and $ 1.1 million in earnings before interest and taxes for their current fiscal year ending September 30 , 2007 . Over the past several years , gross margins have averaged approximately 30 % . In addition to the completion of the acquisition of Voacolo Electric , WPCS has announced that it has mutually agreed to terminate discussions to acquire ATC International as previously discussed in a press release issued February 12 , 2007 . About WPCS International Incorporated : WPCS provides design - build engineering services for specialty communication systems and wireless infrastructure including site design , product integration and project management . The company has an extensive customer base that includes corporations , government entities and educational institutions . For more information , please visit www.wpcs.com Statements about the company 's expectations , including revenue and earnings and all other statements in this press release , other than historical facts , are " forward looking " statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 . Such forward looking statements involve risks and uncertainties and are subject to change at any time . The company 's actual results could differ materially from expected results . In reflecting subsequent events or circumstances , the company undertakes no obligation to update forward - looking statements . Contact : Carol Lindley / WPCS International Incorporated 610 - 903 - 0400 x100 ir@wpcs.com