PHOENIX, Nov. 7, 2011 /PRNewswire/ -- Universal Tracking
Solutions, Inc. (Pink Sheets: UTRK), a fleet management GPS
information and tracking provider, today announced financial
results for the quarter ended September 30,
2011.
Revenue for the third quarter of 2011 was $197,908 compared with $121,096 in revenue for the same quarter of the
prior year, an increase of 63%. Net income was $49,765 in the third quarter of 2011, compared
with a net income (loss) of $(9,476)
in the third quarter of 2010, an increase of $59,241. Moreover, revenue for the third quarter
of 2011 was up $31,649 compared to
the second quarter of 2011, an increase of 19%.
"As we have been reporting to the market, the first part of this
year saw UTS enter new markets and expand our product line. As a
result, we are experiencing continued growth in sales and a second
straight quarter of profitability. We are pleased with our results
and believe that our financial performance continues to underscore
just how much our team has accomplished. We continued to build upon
our success from the previous quarter, again delivering strong
financial results," stated Keith
Tench, Chief Executive Officer. "I am pleased with the
progress the Company has made during 2011 through continuous
improvement in sales and profitability. UTS will continue to focus
on increasing revenues that we hope will provide strong future
recurring income streams. We are excited about the future of UTS
and I would like to thank our shareholders, both new and old, for
their commitment. We look forward to the years ahead."
About Universal Tracking Solutions, Inc. (Pink Sheets:
UTRK)
Universal Tracking Solutions, Inc. (Pink Sheets: UTRK) is a
Mobility Solutions Company delivering the most advanced products in
GPS Fleet Management, Telemetry and Telematics. UTS provides these
solutions to a wide array of market verticals including but not
limited to construction, community transportation, governmental
agencies, HVAC, heavy equipment rental, transportation/logistics,
waste management, and many more. Third part integration and custom
development capabilities set UTS apart, giving clients the most
beneficial mobility management tools available.
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.
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.
CONTACT:
Universal Tracking Solutions
Keith Tench, CEO
480-855-8877
ir@utsgps.com
www.utsgps.com
SOURCE Universal Tracking Solutions, Inc.