Axesstel Reports Second Quarter 2010 Results

SAN DIEGO, Aug. 10, 2010 (GLOBE NEWSWIRE) -- Axesstel (OTCBB:AXST), a leading provider of fixed wireless voice and broadband data products, reported results for its second quarter and six months ended June 30, 2010.

The second quarter

"During the second quarter, we made significant progress on our strategy. We are completing the transition to our re-engineered phone and data product lines, and we have begun to deliver samples to our customers for homologation and testing.  We expect to begin delivery of larger volume orders in the second half of 2010. In addition, we achieved an important milestone in North America with the initial shipment of our Verizon Network Ready Wi-Fi broadband gateways for sales to authorized retailers. Our relationship with the Verizon Wireless community extends our reach to well-established new markets for our high performance, feature-rich gateway product. We are gaining traction in the U.S. market and reported record revenue from North America in the quarter. Also, working closely with a Tier 1 European carrier, we completed development of our customized 3G data and VoIP Gateway and received the first purchase orders for more than 19,000 devices, which are scheduled for delivery beginning in the third quarter. Finally, we have reduced operating expenses by $2.3 million to date, compared to the first six months of 2009, positioning us to achieve $4 million of annualized operating expense savings in 2010," added Hickock.

Axesstel (OTCBB:AXST) is a globally recognized industry leader in the design and development of fixed wireless voice and broadband data products. Axesstel's best in class product portfolio includes broadband modems, 3G and VoIP gateways, machine to machine applications, voice/data terminals, fixed wireless desktop phones and public call office phones for high-speed data and voice calling services. The company delivers innovative fixed wireless solutions to leading telecommunications operators and distributors worldwide. Axesstel is headquartered in San Diego, California. For more information on Axesstel, visit www.axesstel.com.