USNT NEWS US National Telecom (USNT) -- 12 Month Revenue Exceeds Expectations -- 100% Increase in Subsidiary Revenues
Feb 5, 2008 9:31:00 AM
View Additional ProfilesDENVER, CO -- (MARKET WIRE) -- 02/05/08 -- US National Telecom (PINKSHEETS: USNT), a rapidly growing New Generation telecom company, continues to see increased revenues for its growing family of companies it has invested in over the last year. The Vitelity subsidiary experienced revenue increases of more than 100% on an annual run rate over the last 12 months. For the next twelve months, Vitelity is expected to generate annual gross revenue of more than $2.8 million, a figure that is an impressive 300% more than annual 2006 revenues.
Final testing was approved yesterday for a large international carrier, and the week of test production traffic will begin February 6. If all goes well with the production test, this contract is expected to generate $520,000 a year in additional gross revenue, catapulting Vitelity to more record revenues. Final results of this production test will be announced on February 13. A contract has been signed, the engineering test has been completed, and only the one week production test is pending.
The Company's subsidiary envisions that its position as a wholesale carrier solutions provider will grow, particularly as it seeks to increase its share of international voice traffic.
About US National Telecom (USNT)
US National Telecom (USNT) is a publicly traded technology company, headquartered in Denver, Colorado. The company changed its name in 2007 to US National Telecom, Inc., and has been assigned the coveted ticker symbol USNT www.USnationalTelecom.com. The Company focus is on building a large VoIP and Internet services company by expanding to process international voice traffic and acquiring companies in the VoIP services and technology marketplace.
Safe Harbor Statement: This release includes forward-looking statements, made pursuant to the safe harbor provisions of the PSLA of 1995, that involve major risks and uncertainties based on what may be faulty assumptions or inaccurate statements. Financial information is based on revenue and deposits for services, is unaudited and subject to restatement. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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