(OTCBB: ECDC), EarthSearch Announces Strong Performance for Q1 2011
Tuesday 5 April 2011
East Coast Diversified Corporation (OTCBB: ECDC), through its subsidiary EarthSearch Communications, Inc., announced it had recorded a strong first quarter in Company operations.
Sales and Purchase Order
The Company is pleased to announce the first quarter of 2011 was very active for the company as sales and purchased orders for the period outperformed same quarter last year. The global market's response to our integrated GPS/RFID technology validates management's decision to expand R&D operation during the 2 years of global economic downturn and use the period to refocus the company's product and business strategy. "Our first quarter performance is a precurser to even better quarters ahead," said Kayode Aladesuyi, CEO for ECDC.
"We expanded and grew in every area of our business; we expanded sales network, introduced a powerful and strong product portfolio to the market, increased market presence, grew revenue and reduced cost of operation dramatically over same period last year, we are very pleased with the direction of our business," commented Mr. Aladesuyi.
Global Expansion
The company has expanded its global sales and distribution network during the first quarter to now cover 15 countries in more than 5 continents. This expansion in our global network should have a dramatic effect in ramping up our year-to-year financial and sales performance for the current fiscal year, and help develop follow-on orders with clients in those regions. "We expect to continue growth of our partner network and expansion into new markets as our former GPS competitors become our distribution partners for integrated GPS/RFID applications," said Amanda Greene, Partner and Sales Management Operation.
New Product Developments
In the first quarter of 2011, the Company also developed several new products using our GPS and RFID technology. We launched our GPS/RFID pipeline monitoring system to help oil companies, public utilities, and large system managers to monitor critical infrastructure systems such as oil, gas, water, and chemical pipelines from possible disruptions due to mechanical failure, sabotage, or natural disasters.
In addition, we also announced our entry into the anti-theft vehicle tracking and recovery market for both the commercial and consumer market. Our systems could prove very beneficial for not just owners of high priced equipment, but for the insurance companies who insure such items.
Kayode Aladesuyi, the Chairman and CEO of ECDC, commented, "We are forecasting 2011 to be a much stronger year for us as global economic conditions continue to improve."
For more information on how GPS and RFID technologies can be useful for your company, or enterprise please email us for a brochure at businesssolutions@earthsearch.us.
About EarthSearch Communications
EarthSearch Communications, an ECDC Company (OTCBB: ECDC), is a US-based business whose flagship product, LogiBoxx, integrates GPS and RFID at the hardware level. When combined with its proprietary Global Asset Tracking and Identification System (GATIS) middleware, LogiBoxx and GATIS become the centerpieces of a LogiBoxx Certified Solution. An unprecedented business decision-making tool, a LogiBoxx Certified Solution offers continuous visibility within the Supply Chain, Logistics, and Asset Management and Control industries. Along with its integrated, patent-pending GPS and RFID technologies, EarthSearch also offers a complete line of innovative RFID solutions. Its expertise with GPS and RFID technologies, combined with exceptional support and service facilities, distinguishes EarthSearch as a leading manufacturer and supplier of real-time location solutions in the marketplace. For more information on ECDC, visit www.eastcoastdiversified.com or www.earthsearch.us
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
Editorial Contacts
Glenn Davis
EarthSearch Communications, an ECDC Company
+1 770-953-4184
+866-503-9316
investorrelations@earthsearch.us
