Ultimate Sports, Inc. Reports 2008 Annual Results
18 Février 2009 - 3:00PM
Marketwired
Ultimate Sports, Inc. (PINKSHEETS: USPS), a manufacturer and
supplier to the recreational vehicle industry, today announced
fiscal results for the year ending December 31, 2008.
Revenues for the company grew near 45% in 2008 versus 2007 with
net income increasing from $24,700 to $97,952 for the same period.
Ultimate Sports contributes the increased sales and earnings to its
expanded distribution network and favorable market conditions.
In other news, Ultimate Sports announced that it has rescinded
its Letter of Intent to acquire ePower Synergies. The company's
Board of Directors has determined through the due diligence process
that the acquisition would not be in the best interest for Ultimate
Sports' shareholders.
"We are very pleased with the significant growth in our revenues
and net income during 2008," stated President Martin Maassen. "In
2009, we anticipate leveraging Ultimate Sports' resources to expand
operations through mergers and acquisition. Our Directors are
currently engaged in advance negotiations with a number of
companies that complement our model."
www.usi-skis.com
Forward-Looking Statements
This press release contains certain forward-looking statements.
Investors are cautioned that certain statements in this release are
"forward-looking statements" and involve both known and unknown
risks, uncertainties and other factors. Such uncertainties include,
among others, certain risks associated with the operation of the
company described above. The Company's actual results could differ
materially from expected results.
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Contact: Ultimate Sports, Inc. (765) 423-2984
Ultimate Sports (PK) (USOTC:USPS)
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