Sharing Knowledge in Smallcaps

[gemmerling]

KP - re:...especially ones with some meat on their bones and money in the bank ...actual cash flows and a product that seems timely... besides DFNS do you know of any others? <jk>

I realize you were <jk> but I did come across a stock I use to follow along time ago. If you are looking for those OTC stocks that have money in the bank...actual cash flows and a product that seems timely (don't know about this last one but government agencies love their product). Stocks like that seem boring to me though same old profit quarter after quarter nothing to look forward to LOL. Anyway here is some info the stock is USTI.

Homepage: http://www.unitedsystech.com/

http://biz.yahoo.com/p/u/usti.ob.html

Business Summary

United Systems Technology, Inc. is engaged in the business of developing, supporting and marketing computer software products to county and local governments. Products are offered to customers in four product application groups: the financial systems group includes software modules in the areas of general ledger and budgetary accounting, budget preparation, accounts payable, payroll, accounts receivable, centralized cash receipts, purchase orders, fixed assets and comprehensive financial report writer; the public works group includes software modules in the areas of utility billing and collections, hand-held meter reading and bank drafting; the general administration group includes software modules in the areas of building permits, animal licenses, business licenses, code enforcement and property tax billing, and the public safety group includes software modules in the areas of computer-aided dispatch, law enforcement records management, jail management and court administration.
More from Multex: Expanded Business Description


Financial Summary

USTI is engaged in the business of developing, supporting and marketing computer software products to county and local governments located throughout the U.S. For the fiscal year ended 12/31/02, total revenues rose 20% to $3.6 million. Net income applicable to Common rose 4% to $480 thousand. Revenues reflect an increase in the licensing of the Company's asystTM products. Earnings were partially offset by an increase in personnel-related expenses.
Recent Earnings Announcement
For the 3 months ended 03/31/2003, revenues were 916; after tax earnings were 109. (Preliminary; reported in thousands of dollars.)

http://biz.yahoo.com/bw/030515/155515_1.html

United Systems Technology, Inc. Announces First Quarter 2003 Results
Thursday May 15, 12:35 pm ET


DALLAS--(BUSINESS WIRE)--May 15, 2003--United Systems Technology, Inc. (OTC:USTI - News) announced today that revenues for the quarter ended March 31, 2003 were $916,051, as compared to revenues of $876,231 for the same period in 2002. The Company had net income of $109,070 for the quarter ended March 31, 2003 as compared to net income of $175,881 during the comparable quarter in 2002.
The Company continued to increase its revenue during 2003 through internal and external growth. The Company has completed the development of several new software products, which enhances the competitiveness of its comprehensive software offering. These products are marketed under the asyst® brand name, were developed as Windows applications to "look and work like Microsoft Office," and include a Fund Accounting product line, a Utility Billing product line, a General Government product line and a Public Safety product line. The Fund Accounting product line includes General Ledger, Budget XLence, Report XLence, Accounts Payable, Accounts Receivable, Purchase Orders, Cash Receipts, Payroll and Fixed Assets modules. The Utility Billing product line includes Utility Billing, Service Orders, Meter Reader Interface, Bank Drafts and Budget Billing modules. The General Government product line includes Master and Land Directories, Business and Animal Licenses, Code Enforcement, Building Permits and Property Tax modules. The Public Safety product line includes Master Name Index, Calls for Service, Offense Reports, Citations, State Interface, Computer Aided Dispatch, Jail Management, Alarm Billing and UCR Reports modules. The Company is currently developing additional modules for its asyst® product line to add to its existing asyst® offerings including an asyst® for Powersports product line. The asyst® for Powersports product line will include the core asyst® accounting modules and will have the additional functionality of point of sale, inventory, repair orders, finance and insurance and fiche interface. The Company believes its asyst® product line will continue to offer its current and prospective customers an attractive software solution, both from a financial and functionality standpoint.

This Press Release contains forward-looking statements, other than historical facts, which reflect the view of Company's management with respect to future events. Such forward-looking statements are based on assumptions made by and information currently available to the Company's management. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from such expectations include, without limitation, the ability of the Company i) to generate levels of revenue and adequate cash flows from its operations to support and maintain its current cost structure and ii) to develop and deliver products that are competitive, accepted by its markets and are not rendered obsolete by changing technology. The forward-looking statements contained herein reflect the current views of the Company's management with respect to future events and are subject to these factors and other risks, uncertainties and assumptions relating to the operations, results of operations and financial position of the Company. The Company assumes no obligation to update the forward-looking statements or to update the reasons actual results could differ from those contemplated by such forward-looking statements.

USTI develops, markets and supports application software for select vertical markets in both the for profit and not for profit sectors. The software applications operate in IBM midrange, network and single user PC platforms. USTI and its subsidiaries have over 2,100 installations in the United States and Canada.

-0-

 
                     United Systems Technology, Inc. 
                    Summarized Financial Information 
                  (In Thousands Except Per Share Data) 
  
                                        Three Months Ended 
                                              March 31, 
                                        2003            2002 
                                       ------           ------ 
     Revenue                            $ 916           $ 876 
  
     Total Costs and Expense            $ 819           $ 706 
  
     Operating Income                   $ 97            $ 170 
  
     Net Income                         $ 109           $ 176 
  
     Earning Per Common Share           $ NIL           $ NIL 
  
    Weighted Average Shares 
     Outstanding                       56,179          56,179 
  
  
 

--------------------------------------------------------------------------------
Contact:
United Systems Technology, Inc.
Mr. Randy McGee, 972/402-8600



--------------------------------------------------------------------------------
Source: United Systems Technology, Inc.

The CEO puts out a quarterly letter here is the link.

http://www.unitedsystech.com/asp/justinfo.asp

December 2002 letter below.

President’s Letter

We certainly hope everyone had a Happy Holiday season and that you are fired up, rejuvenated, and back to work to make the most of 2003. And, if you are like most of us, you need to because what the Stock Market did not do to your retirement savings in 2002, your Christmas spending did. So, it is back to work to make your mark on the world and maybe make a good living to boot. We hope to make you more productive and your workload lighter. We had a fantastic 2002, with new products, a new release of all of the asyst modules (Yes, I know how late we were in getting it out, but Microsoft had some surprises for us and we really did have a lot of product to convert; over 30 separate asyst modules that all have to be delivered at the same time.) Next time, we will try to control our enthusiasm and not announce so early. We have got really big plans for 2003. We have over a dozen new asyst installations in Canada that are all starting up as I write. Talk about stress! We have added two new Sales Reps (Bridget Starr and Barbara Barnes) who, with our current staff of seven will introduce asyst to even more new customers in 2003. And, as you all know, the more money we have in Customer Support Contracts, the more new features we can add to asyst. So, 2003 looks to be a banner year. We are also continuing to evolve our processes for delivering support, and 2003 will be a year of renewed commitment to improving all aspects of our support operation. We added the Customer Satisfaction emails in 2002 and we have had great success in identifying problems because you brought them to our attention. Keep it up. We have revamped the Service
Request coding system (as a result of a Customer Survey response) to better track SRs that are somewhat out of the main stream. And, we will implement even more changes in 2003 to improve our consistency and speed up our processes in delivering you service. 2002 was a really good year. 2003 appears to be ready to continue on the trajectory set last year. We are really aiming for a Happy New Year and we are glad you will be sharing it with us! Have a Happy and Prosperous New Year!

Spotlight

Wayne Cummings
Normally we spotlight a specific city or town, however in this newsletter we have decided to spotlight a special customer. Wayne Cummings, the new city administrator in Anna, TX, was one of our first asyst customers. He first implemented asyst in Van Alstyne, TX back in 1996. Wayne remembers being in a training session and seeing his General Ledger as an example on the screen. He laughed and said, “Hey that looks familiar!” He has now moved to Anna, TX and brought asyst with him. We wanted to ask Wayne a few questions about what has kept him so satisfied with the asyst family. When asked what he liked about asyst and
how it made his job easier Wayne responded, “It is simple to use, inexpensive compared to other software, compatible with most other applications and hardware and is Windows based.” He says that the biggest challenge he and his coworkers will face in implementing asyst in Anna will be the conversion process. Anna will be converting from Data Trend which is quite different from the asyst family. One of the biggest differences is that Data Trend is a DOS based solution. Wayne’s staff is eager to get moving with a true windows based solution. Anna also uses Quick Books, which is a stand alone module and with asyst they are looking forward to having a completely integrated suite of modules. Anna is looking forward to the efficiency of not having to make multiple journal entries to multiple systems. Anna, TX is now experiencing a major growth spurt. Wayne says they are currently planning for approximately 5000 new lots. Not only is Wayne bringing asyst: Financials and asyst:Utility Billing with him to the booming town of Anna, he says that they are about to add the asyst:General Government modules as well. Good luck Wayne Cummings and Anna, TX!
We appreciate all you do!

http://www.knobias.com/individual/public/quote.htm?aff=IHUB&ticker=USTI

http://www.gonow.com/research.html?ticker=usti

Take Care,

Greg