SpatialNews Press Release
Webraska Announces Record Year in 2001
www.webraska.com
SARATOGA, Calif. & MAISONS-LAFFITTE,
France--Feb. 4, 2002--Webraska, the
worldwide provider of LBS (Location-Based
Services) & Telematics applications and
enabling platforms, today announced a record
year in 2001, and the successful completion
of its merger with AirFlash. Webraska received
more than EUR17 million in new multi-year
customer orders for the calendar year ending
December 31, 2001, with over EUR10 million
alone awarded in the fourth calendar quarter
of 2001. Revenues are expected to be
between EUR5 and EUR6 million in fiscal year
2002 (ending March 31, 2002), compared to
EUR3.1 million revenue in fiscal year 2001
(ending March 31, 2001).
Webraska also announced the successful
completion of its merger with Silicon Valley-based AirFlash Inc, a significant step in establishing
the worldwide leader in LBS applications and enabling platforms. During 2001, Webraska
continued to expand its worldwide customer base and industry partnerships. The Company
announced that it had received contracts in key markets for the deployment of LBS applications
with major wireless phone companies, including Blu, E-Plus, Orange UK and Switzerland, Telecom
Italia Mobile (TIM), Viag Interkom, Vodafone Global Group, as well as several other operators and
portals currently under non-disclosure. During the fourth quarter of 2001, Webraska had
approximately 24 companies engaged in product trials, 6 customers in the process of deployment
(including 5 wireless operators) and 14 customers in service (including 10 wireless operators).
"We have established clear leadership in location-based services during 2001," said Jean-Michel
Durocher, Webraska's Chief Executive Officer. "Our merger with AirFlash provided the complete
solution wireless operators were looking for to start generating revenues from their location
gateway investments." On December 31st, 2001, Webraska had cash and other receivables of
EUR23 million. With cash needs planned to be below EUR0.9 million per month, Webraska doesn't
anticipate requiring additional funding before achieving profitability, which is expected in early
2003.
About Webraska
Webraska, recently merged with AirFlash Inc., provides the advanced software solutions required
to develop, integrate and deploy location-based and telematics services. Webraska's
carrier-grade offering includes the SmartZone(tm) GeoSpatial Platform, the SmartZone(tm) LBS
Application Platform, the patented and award-winning car navigation solution, IbDN(R) Lite, and
over 30 other ready-to-deploy market-proven applications such as BuddyFinder and m-Vite.
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Feb 4, 2002
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