CoroWare Announces Fourth Quarter 2012 Revenue Guidance

KIRKLAND, Wash., Dec. 13, 2012 /PRNewswire/ -- CoroWare, Inc. (OTCQB: COWI) today announced gross revenue guidance of over $375,000 for the fourth quarter ending December 31, 2012 - an increase of over 60 percent compared with gross revenues of $224,136 in the third quarter of 2012. The forecasted growth in revenues is driven by increased sales of both HD video conferencing and mobile robotics products and consulting services.

Increased HD video conferencing sales in the fourth quarter ending December 31, 2012 have primarily included the deployment of Vidyo™-based multipoint video conferencing solutions that uniquely deliver low latency, high definition video conferencing over general data networks and the Internet, using off-the-shelf devices.

Increased mobile robotics sales in the fourth quarter ending December 31, 2012 have included a combination of CoroBot product sales, and custom engineering services for the development of data visualization software and mobile robot hardware for customers in North America and Europe.

About CoroWare

Headquartered in Kirkland, Washington, CoroWare is a solutions integrator with expertise in affordable and open mobile robotics; business class video conferencing; and operational business intelligence.

CoroWare has been an Authorized Vidyo Reseller and Conference Service Provider since 2009, and has delivered HD videoconferencing solutions in North America and subscription services across Europe, Asia, Africa, the Middle East and the Americas.

CoroWare is recognized as an innovative mobile robotics solutions integrator in the research community because of its expertise in Robotic Operating System (ROS), robotics simulation, and application development. CoroWare's CoroBot product line has been shipped to over 86 corporate and academic researchers in over 24 countries worldwide.

In 2012, CoroWare was listed in the RBR50 list of robotics companies to watch by Robotics Business Review.  http://www.roboticsbusinessreview.com/site/more_about_the_rbr50

For more information on CoroWare and its products and services, please visit www.coroware.com.

Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") (http://www.sec.gov/about/laws/sea34.pdf (Sec.21E p. 223). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. CoroWare takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.  

Investor Relations Contact:
Shanna Gerrard
CoroWare, Inc.
[email protected]  
(800) 641-2676, option 3

SOURCE CoroWare, Inc.