Universal Tracking Solutions Issues 3Q Revenues

Mon. November 24, 2008; Posted: 01:29 AM

UTRK | Quote | Chart | News | PowerRating -- Universal Tracking Solutions (UTS) reported that it has achieved 9 straight quarters of record revenues.

In a release, the company noted that revenues grew 74 percent for the quarter ending 9-30-08 to $351,054 from $202,946 for the quarter ending 9-30-07. Revenues for the fist 9 months of 2008 are up 73 percent to $971,694 from $560,429 a year ago.

Keith Tench, CEO of UTS, said, "The company has done an excellent job with the limited resources we started out with. Our cash burn rate is extremely low and we expect to be profitable in 2009. Now that Universal Tracking Solutions is a publicly traded company, we feel our goals of growing at an exponential rate will be easier to achieve. We have spent the last two years positioning ourselves for the public markets and the company is very excited to be trading on the bulletin boards as a fully reporting company. Our main objective is to reward our investors for their continued support and to attract new investors into what we believe is an excellent opportunity."

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