they lifted my post because i had $

Wavenet $884,000 interim net profit; revenues up 88pc
10:44, Thursday, 9 March 2006

Sydney - Thursday - March 9: (RWE Australian Business News) -
Wavenet International Ltd (ASX code: WAL) today reported a net profit of
$884,141 for the six months to December 31 2005, compared with a net
loss of $427,781 for the corresponding period in 2004.
The turnaround was primarily due to an 88 per cent rise in
revenues to $5.49 million from $2.92 million.
Revenue growth was achieved through expanding modem sales during
the period, with more than 30,000 combined units of Boomer OEM modems
and Wombat vehicle modems delivered in the six months under review, up
more than 60 per cent from last year.
Basic earnings per share were 1.71c, against a loss of 0.83c.
The company has yet to pay a dividend.
Other important contributors to the improvement in half-year
profitability were higher trading margins reported on sales through the
targeting of higher-value markets, following on from strategies outlined
at last year's annual general meeting, and returns from the realisation
of strategic acquisitions undertaken during the period.
At December 31 2005 Wavenet brought to account a substantial
fair value profit of $383,000 on a discounted receivable in a local
wireless company acquired in July.
As a consequence of these activities, and the early signing of
two significant orders to Geologic of $3.0 million and NetworkCar for
$1.25 million, the company is forecasting strong sales for the remainder
of the year on its existing Boomer and Wombat products, and healthy
liquidity with which to continue targeting strategic investment and
acquisition opportunities.
Shares in Wavenet rose 6c to 22c this morning