Speedus Announces Fourth Quarter and Fiscal 20... ( NEW YORK March 31 /- Speedus Corp...)

Speedus Announces Fourth Quarter and Fiscal 2007 Results

Date:3/31/2008

NEW YORK, March 31 /PRNewswire-FirstCall/ -- Speedus Corp. (Nasdaq: SPDE) today announced a net loss of $4.4 million, or $1.11 per share on a fully diluted basis, for the twelve months ended December 31, 2007 compared to a net loss of $5.6 million, or $1.40 per share on a fully diluted basis, for the twelve months ended December 31, 2006. The loss before depreciation and amortization for the twelve months ended December 31, 2007 was $4.2 million compared to a loss before depreciation and amortization of $4.9 million for the twelve months ended December 31, 2006.

For 2007, total operating expenses before depreciation and amortization amounted to $5.7 million compared to $6.3 million in 2006. This decrease is primarily a result of a decrease in non-cash stock based compensation.

In October 2007, Zargis and the 3M Company entered into an exclusive multi-year marketing alliance involving Zargis' heart sound analysis software and 3M Littmann's next-generation electronic stethoscope. Under the agreement, Zargis will support 3M in its efforts to develop a next-generation stethoscope that will be compatible with Zargis' heart sound analysis software. In addition, the alliance provides Zargis with a wide-range of marketing and promotional opportunities along with exclusive rights to sell its heart sound analysis software through the global distribution network of the Littmann brand. The agreement grants 3M a 10% minority equity position in Zargis, 5% following the first sale of Zargis' software through the 3M distribution channel and 5% in the event the agreement is renewed after an initial two year term and certain other conditions are met, and a seat on Zargis' board of directors.

About Speedus Corp

Additional information on Speedus Corp. may be obtained at http://www.speedus.com or by contacting Peter Hodge at 888-773-3669 (ext. 23) or phodge@speedus.com.

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Speedus Announces Fourth Quarter and Fiscal 20...( NEW YORK March 31 /- Speedus Corp...),Health