Universal Tracking Solutions Reports Preliminary 2008 Record Revenue Growth of 48%
10 Februar 2009 - 3:17PM
Business Wire
Universal Tracking Solutions (OTCBB:UTRK) today announced
revenue of $217,452 for its fourth quarter ending December 31,
2008, down approximately 9% from revenue of $240,693 in the fourth
quarter of 2007. For fiscal 2008, UTS had revenue of $1,189,044, up
approximately 48% over fiscal 2007. Net loss decreased 71% from
$297,640 in 2007 to only $87,314 in 2008. Operating expenses
decreased approximately 3% from $536,987 in 2007 to $521,637 in
2008.
Terry Horne, CFO states, �2008 has proven to be another banner
year for Universal Tracking Solutions. We managed to decrease our
year over year expenses while growing our revenues 48%. We did all
of this while decreasing our losses by over 70%.�
Keith Tench, CEO of UTS states, �UTS weathered a difficult 4th
quarter in a very tough environment and we are pleased with our
year over year growth. The Company grew almost 50% in one of the
most challenging markets since the great depression. The company is
disappointed with its recent stock performance, but we understand
that it has a lot to do with market conditions and not as much to
do with our individual company. The Company feels undervalued being
that our market capitalization is under $1 million, which is
currently less than our sales not to mention the value of our clean
public vehicle.�
Please visit our website at www.universaltrackingsolutions.com
to see more of our latest enhancements, investor relations
information, and information about our company.
UTS is dedicated to increasing shareholder value and investor
awareness. If you have any further questions or comments we would
be happy to speak with you further.
This press release may contain forward-looking statements
covered within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements relate to,
among other things, plans and timing for the introduction or
enhancement of our services and products, statements about future
market conditions, supply and demand conditions, and other
expectations, intentions and plans contained in this press release
that are not historical fact and involve risks and uncertainties.
Our expectations regarding future revenues depend upon our ability
to develop and supply products and services that we may not produce
today and that meet defined specifications. When used in this press
release, the words "plan," "expect," "believe," and similar
expressions generally identify forward-looking statements. These
statements reflect our current expectations. They are subject to a
number of risks and uncertainties, including, but not limited to,
changes in technology and changes in pervasive markets.
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