To OTC Journal Members:
 

NetWork Installation (OTC BB: NWKI): Rapid Growth Continues

NetWork Installation was out with its September quarterly results today, and as it turns out the company has stayed the course of rapid growth. This strong growth has been reflected in the stock price and corresponding uptrend since the August low.

NetWork Installation delivered $800K in revenues for the quarter, twice the amount the company delivered in the same quarter in '03. For the nine month period NWKI eclipsed the $2 million mark, also roughly double where they were in the first nine months of '03. Organic growth is expected to continue for the fourth quarter. Losses continued but were lower than in previous time periods. Therefore, sales are up and losses are down. I expect this company to continue to lose money through the first half of 2005. They should then turn the corner to profitability.

Since last reporting on NWKI, the company has also diversified geographically. Aside from its ongoing business in Southern California, NWKI has recently landed projects in Rhode Island, Arizona, and New Mexico.

The US wireless internet infrastructure build out is expected to peak in 2007, so the market for their services has a couple more years of steep growth out in front of it. As long as they continue to expand geographically, they should be able to maintain their 100% year over year growth rate into 2005. 

Management at NWKI is actively working on several avenues to accelerate their current rapid growth, and if the right arrangement comes along look for another surge in the stock similar to March and October's big moves. 

There isn't too much to say about the chart aside from the simple observation that the uptrend in the stock continues as measured from the August low. The highs are getting higher and the lows are getting higher. The stock has not climbed back to its pre summer sell off high of $2.50, but it made a valiant effort in mid October on very high volume.

Recently it has been trading quietly, taking a breather out in front of the Thanksgiving holiday. Look for the stock to resume its climb if the company can pull a rabbit out of the hat before the end of the year.

Whether it's in an airport, office building, or coffee shop, every time I see wireless internet access, I think of NWKI. I am seeing wireless access in more places, but the market for expansion is far from mature. This market is much closer to its infancy than maturity, and NWKI should continue to grow with it.

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