Tech News: iQSTEL, Inc. (OTC: IQST) announces Record Breaking Year of Revenue for Subsidiary Etelix
NEW YORK, NY - January 23, 2020 (Investorideas.com Newswire) iQSTEL Inc. (OTC: IQST) announces record breaking year for its wholly owned subsidiary Etelix.
Mr. Iglesias, the Company's CEO stated: "The growth of our main and wholly-owned subsidiary Etelix continues to grow organically, well within the Company's estimates. For the FY-2019 the Company finished with $16,327,870, an increase of 18.5% versus FY-2018. The main drivers for this growth have been excellent operational execution, as well as our continued quest for better pricing for our clients. The Company is now finalizing the final quarter revenue and operating profit for our recently acquired European subsidiary, Swisslink, which once consolidated will increase the Company's consolidated revenue and operating profit considerably. We expect to have final revenue numbers in the coming March. Based on our excellent continued level of execution, we expect revenue and operating profit for our consolidated VoIP business to continue on a very robust growth rate through 2020 and the coming years".
About iQSTEL Inc.:
iQSTEL (OTC: IQST) www.iQSTEL.com is a technology company offering a wide array of services to the Telecommunications Industry. These include services to International Long-Distance Telecommunications Operators (ILD Wholesale), Retail and Corporate markets (ILD Retail), Submarine Fiber Optic Network capacity, Satellite Communications services, Mobile Virtual Network Operator (MVNO) services, Internet of Things (IoT) technology solutions, Data Center facilities capacity leasing, and Blockchain solutions for the Telecommunications industry.
About Etelix.com USA, LLC:
Etelix.com USA LLC www.etelix.com is wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami, Florida-based international telecom carrier founded in 2008 that provides telecom and technology solutions worldwide, with commercial presence in North America, Latin America and Europe. Enabled by its 214-license granted by the Federal Communications Commission (FCC), Etelix provides International Long-Distance voice services for Telecommunications Operators (ILD Wholesale), and Submarine Fiber Optic Network capacity for internet (4G and 5G). Etelix was founded in 2008 and has been profitable since inception.
About SwissLink Carrier AG:
SwissLink Carrier AG www.swisslink-carrier.com is a 51% owned subsidiary of iQSTEL Inc. SwissLink Carrier AG is a Switzerland based international Telecommunications Carrier founded in 2015 providing international VoIP connectivity worldwide, with commercial presence in Europe, CIS and Latin America. SwissLink Carrier AG is a Swiss licensed Operator, having a domestic Interconnect with Swisscom, allowing their international Carrier Customers direct terminations via SwissLink into all Switzerland Fix & Mobile Networks. Since the takeover from Swissphone in November 2018 and the rename into SwissLink, they operate on a profitable level.
Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
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Source: iQSTEL Inc.
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