Ambient Announces Second Quarter Results

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BOSTON, Aug 18, 2009 /PRNewswire-FirstCall via COMTEX/ -- ABTG | Quote | Chart | News | PowerRating -- Ambient Corporation (OTC Bulletin Board: ABTG | Quote | Chart | News | PowerRating) announced results for its second quarter ended June 30, 2009, with first half-year revenues of approximately $857,000.

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Milestones of the first half of the year include a joint marketing agreement with Verizon Wireless and a partnership with Itron Inc. Ambient also relocated its corporate headquarters to a larger facility earlier in August, accommodating projected growth in both its business and R&D initiatives.

Commenting on the Company's recent achievements, John J. Joyce, President and CEO of Ambient Corporation, stated, "A purchase order received in mid-August for our latest version of our smart grid node assists in continuing to position the Company for anticipated growth for the remainder of 2009 and into 2010, and represents the ongoing success of laying a foundation for the future."

In mid-August, Ambient received a purchase order for 2,500 units of the newest version of its smart grid node. The Company is presently working to fulfill this order.

Operations Highlights - Second Quarter

REVENUE: Revenues for the six and three months ended June 30, 2009 were $857,183 and $30,590 respectively. Revenues for the corresponding periods in 2008 were $810,865 and $747,223, respectively. Revenues for the 2009 period were attributable to the sales of equipment and software to Duke Energy. Revenues for the 2008 period were attributable to the sales of equipment to Duke Energy. Revenues for the six and three months ended June 30, 2009 related to the sales of equipment totaled $823,253 and $30,590, respectively, as compared to $810,865 and $747,223 for the corresponding periods in 2008.

COST OF GOODS SOLD: Cost of goods sold for the six and three months ended June 30, 2009 were $756,854 and $25,618, respectively, compared to $948,500 and $605,630 during the corresponding periods in 2008. Cost of goods sold included all costs related to manufacturing and selling products and services and consisted primarily of direct material costs. Cost of goods sold for the 2008 period included expenses related to the write down of inventory to the lower of cost or market.

GROSS PROFIT: Gross profit for the six and three months ended June 30, 2009 were $100,329 and $4,972, compared to a loss of $137,635 and a gain of $141,593 for the corresponding periods in 2008.

A more detailed description of Ambient's business, our results of operations and financial statements are contained in the Quarterly Report on Form 10-Q filed on August 14, 2009.

About Ambient Corporation

Ambient designs, develops and markets Ambient Smart Grid((R)) communications technologies and equipment. Using open standards-based technologies along with in-depth industry experience, Ambient provides utilities with solutions for creating smart grid communication platforms and technologies. Headquartered in Newton, MA, Ambient is a publicly traded company (OTC Bulletin Board: ABTG). More information on Ambient is available at www.ambientcorp.com.

This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, changes in economic conditions generally and our market specifically, market acceptance of our products, changes in economic conditions generally and the smart grid market specifically, changes in technology, legislative or regulatory changes that affect us, the availability and sufficiency of working capital, introduction of competing products and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.

Ambient, Ambient Smart Grid, and AmbientNMS are registered trademarks of Ambient Corporation with the U.S. Patent and Trademark Office.

SOURCE Ambient Corporation

http://www.ambientcorp.com

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