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Companies mentioned in this article include Location Based Technologies Inc. (OTCBB: LBAS).
Article Excerpt:
Big boys (and some girls) really love their toys; the role technology plays in our daily existence is only getting bigger and reaches into all areas of our lives. The latest example, it seems, concerns GPS and other tracking devices, to help get our loved ones and our goods home, so that life as we know it can continue. An eyebrow-raising example of a small company making its mark by its excellence in manufacturing and selling such tracking devices is Anaheim-based Location Based Technologies (OTCBB: LBAS).
Location "finds" itself the focus of this tale for its jarring financial numbers, remarkable for a period of great prosperity, twice as much so in the midst of a deep, harsh recession. The provider of personal, pet and asset location devices announced in the third week of July financial highlights for the last known quarter.
LBAS told the world revenues grew exponentially in the three-month period ending with May, jumping to $553,000, an improvement of 675% over the same period in 2008. Gross margins were 68.5%, up from 28.5% during the previous quarter.
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