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[tom2006]

FTS Posts 537% Increase in First Quarter Revenue: Announces First Net Profit Ever
5/16/2006

Company Reports Record Q1 EBITDA of $70,848

TAMPA, FL, May 16, 2006 (MARKET WIRE via COMTEX News Network) --
FTS Group, Inc. (OTC BB: FLIP) today announced record first quarter operating results and the first operating profit in the nine year history of the Company. Below are selected operating results posted during Q1. FTS Group's full first quarter financial results are available at www.SEC.Gov.


-- Revenue for the quarter ended March 31, 2006 was a record $1,633,614
vs. $303,970 for the same period in 2005 resulting in an increase of 537%.
-- Operating income for the quarter ended March 31, 2006 was $41,946 vs.
an operating loss of ($586,875) for the quarter ended March 31, 2005 for a
year over year improvement of $628,821.
-- Net income totaled $5,251 compared to a net loss of ($770,987) for the
same period of 2005 for a net improvement of $823,238.
-- EBITDA (Earnings, Before Interest, Taxes, Depreciation and
Amortization) was a record $70,848.
-- Stockholders equity increased from $212,411 at 2005 year end to
$1,513,831 at March 31, 2006
-- Total Assets increased from $1,974,495 at 2005 year end to $7,151,691
at March 31, 2006

FTS Group Chairman and Chief Executive Officer Scott Gallagher commented, "Even with acquisition-related expenses incurred during the first quarter FTS posted the first operating profit in the nine-year history of the Company. During Q1 we achieved something few OTC (over the counter) Companies ever see, a net profit." Gallagher continued, "Historically, the first quarter is the slowest quarter of the year in both the retail wireless and the satellite television businesses so were very proud to deliver profitable first quarter results to our shareholders." Gallagher went on to say, "We expect sequential increases in both top and bottom line numbers during the second quarter and through out 2006. We've laid out an aggressive growth strategy for 2006 and beyond that, in my opinion, will reward our long-term shareholders."

2006 Outlook

FTS expects revenue growth of 530% to 620% during fiscal 2006 of $7.2 to $8.1 Million from revenue of $1.3 during 2005, without any additional acquisitions. FTS further expects to post full year 2006 net income in the range of $600,000 to $900,000 compared to a loss of ($1,997,000) during 2005. Listing on the American Stock Exchange requires pre tax income of $750,000 in the most recent fiscal year among other factors (see AMEX.com). Our acquisition and deal pipeline remained very strong at the end of Q1. Although no additional letter of intents were signed during Q1 we expect to close additional significant acquisitions during 2006.

Operating Income

As we continue to grow our businesses we'll have three primary usages of cash generated from operations depending on timing and circumstances: Cash will be used for Acquisitions, Debt reduction or Share buy-backs in that order.

[tom2006]

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[tom2006]

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[tom2006]

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