Universal Tracking Solutions, Inc. Announces Record First Quarter Results of 2012
Sales Increase 170% from year ago period
PHOENIX, June 1, 2012 /PRNewswire/ -- Universal Tracking Solutions (OTC: UTRK), a fleet management GPS information and tracking provider, today announced financial results for the quarter ended March 31, 2012.
The company announced record sales results for its fiscal 2012 first quarter ending March 31st, 2012. The company reported revenue of $318,478 and a slight profit of $7,442 versus $117,892 of revenue and a (loss) of ($17,220) for the same quarter last year. During the quarter ending March 31st, 2012 gross revenue increased 170% reflecting increased income and higher margin sales in new product lines. As previously stated, new GPS products and GPS services have significantly increased growth.
"The present condition of our new GPS tracking systems and increased demand for this service has positively impacted our core business," said CEO Keith Tench. "While our emphasis is growth, our priority is to keep strong cash flow and profitability. Our commitment to our customers and shareholders alike remains; Universal Tracking Solutions will do whatever it can to maintain our current growth rate," said Tench.
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. www.universaltrackingsolutions.com
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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