InPhonic Announces Financial Results for Fourth Quarter and Full Year 2006

- Reports Record Fourth Quarter and Full Year 2006 Results
- Signs Fifth Major Wireless Carrier to Residual Compensation Agreement
- Reaches Final Settlement with Attorney General's Office

InPhonic, Inc. a leading online seller of wireless services and products, today reported financial results for the fourth quarter and full year ended December 31, 2006.

"We are very pleased with our fourth quarter and full year results. In 2006, InPhonic made substantial progress in transitioning our business by putting in place residual-based compensation agreements with most of the major wireless carriers, improving our customer service experience and expanding our industry leading online distribution channel with high-quality partners such as Best Buy, Staples and Amazon," said InPhonic's Chairman and CEO David A. Steinberg. "For 2007, we are focused on continuing the strong operational momentum of this past year while maintaining strong revenue growth, further improving operating and contribution margins and generating sustainable positive operating cash flow."

Revenue was $120.3 million for the fourth quarter 2006, compared to $85.2 million for the fourth quarter 2005. Loss from continuing operations for the fourth quarter 2006 was ($3.4) million or ($0.09) per basic and diluted share compared to a loss from continuing operations of ($24.8) million for the fourth quarter of 2005 or ($0.70) per basic and diluted share. Excluding the impact of rebate settlement and related expenses and restructuring costs of $4.5 million, income from continuing operations for the fourth quarter 2006 would have been $1.1 million or $0.03 per basic and diluted share.

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