UTRK.. $0.022.. Universal Tracking Solutions, Inc. Reports Profit for Second Straight Quarter
PHOENIX, Nov. 7, 2011 /PRNewswire/ -- Universal Tracking Solutions, Inc. (Pink Sheets: UTRK), a fleet management GPS information and tracking provider, today announced financial results for the quarter ended September 30, 2011.
Revenue for the third quarter of 2011 was $197,908 compared with $121,096 in revenue for the same quarter of the prior year, an increase of 63%. Net income was $49,765 in the third quarter of 2011, compared with a net income (loss) of $(9,476) in the third quarter of 2010, an increase of $59,241. Moreover, revenue for the third quarter of 2011 was up $31,649 compared to the second quarter of 2011, an increase of 19%.
"As we have been reporting to the market, the first part of this year saw UTS enter new markets and expand our product line. As a result, we are experiencing continued growth in sales and a second straight quarter of profitability. We are pleased with our results and believe that our financial performance continues to underscore just how much our team has accomplished. We continued to build upon our success from the previous quarter, again delivering strong financial results," stated Keith Tench, Chief Executive Officer. "I am pleased with the progress the Company has made during 2011 through continuous improvement in sales and profitability. UTS will continue to focus on increasing revenues that we hope will provide strong future recurring income streams. We are excited about the future of UTS and I would like to thank our shareholders, both new and old, for their commitment. We look forward to the years ahead."
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.
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.
UTS is dedicated to increasing shareholder value and investor awareness. If you have any further questions or comments we would be happy to speak with you further.
CONTACT:
Universal Tracking Solutions
Keith Tench, CEO
480-855-8877
ir@utsgps.com
www.utsgps.com
SOURCE Universal Tracking Solutions, Inc.
