Craig Wireless announces first quarter financial results

RANCHO MIRAGE, CA, Jan. 14, 2013 /CNW/ - Craig Wireless Systems Ltd. ("Craig 
Wireless" or the "Company") (TSX: CWG), today released its financial results 
for first quarter ended November 30, 2012. All dollar figures are reported in 
Canadian currency. 
Consolidated Results 
During the quarter, on September 24, 2012, the Company acquired from treasury 
additional common shares of Woosh Wireless Holdings Limited increasing the 
Company's equity ownership of Woosh Wireless Holdings Limited from 51% to 75%. 
Including the recently acquired Woosh Wireless Holdings Limited, revenues were 
$3,485,965 during the quarter ended November 30, 2012. Total assets amounted 
to $30,807,200 and total shareholders' equity was $25,941,414 at the quarter 
end. The Company reported a net loss attributable to shareholders of 
$2,344,633 ($0.05 per share) for the quarter ended November 30, 2012. As at 
November 30, 2012 the Company had cash reserves of approximately $5.8 million. 
About Craig Wireless Systems Ltd. 
Craig Wireless and its affiliates (collectively, the "CWS Group") offer a 
broad range of telecommunications services, including, broadband internet 
access, business connectivity solutions, hosting, security and 
telecommunications solutions. Through certain members of the CWS Group, Craig 
Wireless holds or leases licenses for spectrum in the 2.5 GHz, 2.6 GHz or 3.5 
GHz bands in Riverside County in Southern California, United States and 
inGreece. The CWS Group also has spectrum interests 
inNorwayandspectrum interest and operations in New Zealand. Spectrum in 
these ranges is effective for delivery of point-to-multipoint signals, 
possesses robust bandwidth capability and supports emerging 4G-based 
applications, including portable and mobile applications. 
The Toronto Stock Exchange does not accept responsibility for the adequacy or 
accuracy of this release. 
Notice on forward-looking statements
This release includes forward-looking statements regarding Craig Wireless and 
its business. Such statements are based on management's current expectations. 
The forward looking events and circumstances discussed in this release may not 
occur and actual results could differ materially as a result of known and 
unknown risk factors and uncertainties affecting Craig Wireless and its 
business. Not to limit the generality of the foregoing, the forward-looking 
information set forth in this news release is subject to various risks and 
other factors including the following: the realization of income tax refunds 
on a timely basis; availability of funding; the risks of conducting business 
in a foreign country; currency fluctuations; in addition to those risks 
enumerated under the heading "Risk Factors" in the Company's AIF, available on 
SEDAR at www.SEDAR.com. No forward-looking statement can be guaranteed. 
Forward-looking statements speak only as of the date on which they are made 
and Craig Wireless does not undertake any obligation to publicly update or 
revise any forward-looking statement, whether as a result of new information, 
future events, or otherwise. 
Boyd Craig, Chief Executive Officer, Craig Wireless Systems Ltd., email: 
craiginfo@craigwireless.com. 
SOURCE: Craig Wireless Systems Ltd. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/January2013/14/c5866.html 
CO: Craig Wireless Systems Ltd.
ST: California
NI: TLS INTERNET NET ERN  
-0- Jan/14/2013 23:46 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.