UVCL news
UVCL -- Univercell Holdings, Inc.
Com ($0.0001)
Company News and Press Releases From Other Sources:
Recent News - Travel Recovery and Industry Marketing Relationships Fuel UniverCell's Revenue and Profitability Increase
Q2 2003 revenues up 60% over previous year
BALTIMORE, MD, Sep 9, 2003 /PRNewswire-FirstCall via COMTEX/ -- UniverCell Holdings, Inc (OTCBB:UVCL) an innovative cellular phone rental company offering international cellular phone rentals for use on GSM systems in over 150 countries worldwide, reported that its stronger than expected second quarter 2003 results were due in part to recent and continued improvements in the international travel industry, as well as the successful implementation of travel industry marketing relationships during 2002 and early 2003.
Gross revenue for the three months ended June 30, 2003 were up 60 % over the same period in 2002 at $320,000, which resulted in a gross operating profit for the quarter of $90,000. Among the marketing relationships that lead to the increased financial performance are arrangements with International car rental company AVIS, which saw UniverCell act as the exclusive provider of international cell phone rentals for AVIS customers, as well as a unique and innovative travel agent referral program.
Increased international travel by consumers also played a part in the positive financial results for UniverCell. The first half of 2003 has seen the most significant improvement in the international travel industry since the worldwide downturn following September 11, 2001, and this increased traffic has lead to increased referrals from the company's marketing programs, and in turn, increased sales.
Despite the challenges faced by the travel industry throughout 2002, UniverCell still managed to improve that year's total revenue figures by some 20% over the previous year, and sees its most recent quarterly results as an indication of the continued success of its marketing efforts and growth in the travel industry. Sean Y Fulda, CEO of UniverCell, called the increase a significant milestone for the company.
"We are pleased with the results, and are poised to further increase our revenues in 2003 as the travel industry and the economy continue to rebound" said Mr. Fulda. "We will continue to get the message out through our joint ventures and marketing arrangements, and we fully expect to see continued positive results from those efforts."
About UniverCell
UniverCell Global Phone Rentals, Inc. (OTCBB: UVCL) is an innovative cellular phone rental company offering international cellular phone rentals for use on GSM systems in over 150 countries. UniverCell offers the most technologically advanced equipment, the Nokia 6310i and the Motorola v66. Each phone has complimentary voice mail service, caller ID, call waiting, and call conferencing. UniverCell has agreements with Avis Rent-A-Car and over 300 individual and corporate travel agents.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.
The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. Past performance is no guarantee of future results.
SOURCE UniverCell Holdings, Inc.
CONTACT: IR DEPARTMENT - UNIVERCELL HOLDINGS INC., 1 800 765 2355
ext.8158
(UVCL)
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