TOCCOA, Ga., Aug. 14, 2018 (GLOBE NEWSWIRE) -- Galaxy Next Generation, Inc. (OTC: FLCR) (“Galaxy”), a U.S. distributor of interactive learning technology hardware and software that create fully collaborative instructional environments, today announced the completion of the third phase of a four phase installation of its SAM series G2 computer touch screens for the Bacon County School District in Alma, Georgia.
“The Bacon County School District, an early adopter of our technology, chose to standardize their classrooms with our industry-leading SAM series of G2 touch-screen panels,” stated founder and CEO Gary LeCroy. “We’ve now completed 75% of the total project installs and anticipate completing the final phase of installation over the next 12 months.”
The Bacon County School District project includes the installation of approximately 110 SAM series G2 panels. With the completion of the third phase of the installation, approximately 80 units have been installed, including 23 in the current reporting period, generating an estimated $100,000 in revenue for Galaxy.
Commenting on the installation, Shane Bennett, Technology Director of Bacon County School District, stated, “Galaxy stood out from the competition as we explored a variety of options available to upgrade our classroom technology experience. Their turnaround time from purchase order has been very quick, and their support team, based here in the U.S., has provided excellent service.”
The SAM series G2 touch-screen panels are built with industry-leading specifications, including 20 points of interactive touch, 360-degree infra-red sensors, and a built-in Android OS, bringing state-of-the-art touch-driven interactive whiteboard collaboration to classrooms and more.
“This is another project that provides a clear demonstration of the seismic shifts in technological demands and innovation driving industry growth. With a proven history of customer success stories and industry-leading technology, we’re well-positioned to capitalize on this significant opportunity,” continued LeCroy. “We’re very pleased with our strong start to the new fiscal year. We anticipate 200% growth over fiscal 2018 this year, generating between $20 million and $22 million in sales, with approximately $3 million in net income.”
The global education technology market surpassed $17.7 billion in sales in 2017 and is expected to grow to $40.9 billion, an 18.3% CAGR, by 2022.
About Galaxy Next Generation, Inc.
Galaxy Next Generation is a U.S. distributor of interactive learning technology hardware and software that allows the presenter and participant to engage in a fully collaborative instructional environment. Galaxy’s products include Galaxy’s own private-label interactive touch screen panel as well as numerous other national and international branded peripheral and communication devices. Galaxy’s distribution channel consists of 22+ resellers across the U.S. who primarily sell the Company’s products within the commercial and educational market. Galaxy does not control where resellers focus their resell efforts, although generally, the K-12 education market is the largest customer base for Galaxy products – comprising nearly 90% of Galaxy’s sales.
Certain statements contained in this press release are forward-looking statements and are based on future expectations, plans and prospects for FLCR's business and operations and involve a number of risks and uncertainties. FLCR's forward-looking statements in this report are made as of the date hereof and FLCR disclaims any duty to supplement, update or revise such statements on a going forward basis, whether as a result of subsequent developments, change, expectations or otherwise. In connection with the "safe harbour" provision of the Private Securities Litigation Reform Act of 1995 FLCR is identifying certain forward-looking information regarding, among other things, the merger of GALAXY into GMS, which is a wholly owned subsidiary of FLCR. Actual events or results may differ materially from those contained in these forward-looking statements. Important factors that could cause further events or results to vary from those addressed in the forward-looking statements include, without limitation, risks and uncertainties arising from the ability of FLCR to successfully complete the merger, to implementation of Galaxy's business plan; uncertainties relating to the ability to realize the expected benefits of the merger; unanticipated or unfavorable regulatory matters; general economic conditions in the region and industry in which GALAXY operates, and other risk factors as discussed in FLCR' s other filings made from time to time with the United States Securities and Exchange Commission.