AGT Reports Q3 Revenue Up More Than 24% Over Previous Quarter
AGT on track to achieve its eight consecutive year of profitability
 
Rockledge, FL  November 18, 2003 -  Applied Global Technologies, an innovative technologies company offering reliable and worry-free managed services for IP audio, data and video communications,  announces revenue of $6.1M for the third quarter 2003, an increase of 24% over the second quarter of 2003.  The company also reports a record backlog of $8M, of which $4M is expected to be realized in Q4 2003.
 
AGT experienced major wins in the state government marketplace during the quarter.  The state of South Carolina engaged AGT to provide a managed service solution, announced by the State as $15 million over five years.  The state of North Carolina engaged AGT to enhance and manage its Information Highway.  AGT was also awarded the California Video Over IP Project, a statewide initiative to provide the video conferencing infrastructure for all levels of education in California.
 
"We are pleased with our success in the state and local government markets and will soon be announcing exciting wins in the commercial and international markets, as well as our primary federal government market," stated Michael Valletutti, chairman and chief executive officer, AGT.  "We continue to drive growth in our core business of A/V integration and managed video service solutions, while investing approximately 4% of revenue into the research and development of new technology to advance the video and collaboration marketplaces."
 
In the third quarter, AGT released a new video and web collaboration service known as PERSPECTIVE™, developed by its group of industry-leading research scientists.  This technology provides an interactive user interface which allows central access to workplace tools available on any IP network and the sharing of those tools in real time with anyone, regardless of device.  It transforms video conferencing hardware into multimedia devices that take collaboration to a whole new level.  PERSPECTIVE™ positions AGT as the provider of the most advanced multimedia collaboration tool in the industry, and provides a technology that can greatly advance communication capabilities in the defense sector.
 
"In the third quarter, AGT grew its earnings before interest, taxes, depreciation and amortization (EBITDA) to approximately $200,000, while continuing to make investment in growing the commercial market and in its research and development organization," added Harry Ericson, chief financial officer, AGT.  "Services have grown to 35% of revenue with the greatest growth in higher value-added services such as complex A/V integrations, selective outsourcing services, and contracted R&D.  The significant increase in orders for these services at the end of the third quarter and the introduction of our internally developed technology, PERSPECTIVE™, positions the company for continued growth in earnings going into 2004."
 
About Applied Global Technologies            
Applied Global Technologies offers the world's most reliable and worry-free portal to effective video communications with divisions in hardware, custom A/V integration, managed services, engineering and software development.   Applied Global takes the enterprise vision of fully integrated IP networks and applies it as an effective, ROI-centered solution for today's progressive and agile businesses.   
 
As a one-of-a-kind managed services solution, AGT activates its wealth of experience and skill base to develop solutions that are unique to each customer.  In doing so, its customers are able to utilize technology to enhance business objectives without distraction or disruption to core business priorities.
 
In addition to its work in the commercial marketplace, the ten-year old private corporation provides conferencing solutions to the Pentagon, branches of the US Military and civilian agencies, as well as numerous federal and state government facilities.  The company's continued advancement in communications is being felt around the world.
 
AGT partners with those companies that bring value to its customers.  Applied Global's current partners include:  Anteon, Booz Allen Hamilton, EDS, Infonet, Lockheed Martin, Polycom, Radvision, Raytheon, SAIC, Sprint, SRA International, TANDBERG,  VCON, and Verizon.
 
The company recently released a new service known as PERSPECTIVE™ .  It is an interactive video and web interface service which allows you to centrally access workplace tools available on any IP network and share those tools in real-time with anyone you want regardless of communication device.  It is the ultimate multimedia collaboration service.
 
Applied Global's international headquarters is located in Rockledge, FL with field support offices in Atlanta, Chicago, Dallas, Honolulu, Okinawa, Ottawa, Seattle, San Francisco, Virginia Beach, and Washington, DC.