VANCOUVER, British Columbia, April 16 /PRNewswire/ --
GPS Industries, Inc. (GPSI) (OTC Bulletin Board: GPSN), the only provider of Wi-Fi powered, advertising enhanced GPS systems for golf facilities, resorts and residential communities, today announced its audited Financial and Operating Results for the Year Ended December 31, 2007 and its restated quarters ending March 31, June 30 and September 30, 2007.
Inclusive of its restated quarters, revenues for 2007 increased to US$7.3 million or 11% over 2006 revenues of US$6.6 million. Net operating loss for 2007 was US$11.6 million as compared to US$5.4 million in 2006. Excluding the one time non cash gain on derivative liabilities in 2006, the operating loss improved by US$1.7 million from 2006.