UTRK News .0157 Universal Tracking Solutions, Inc.
Post# of 144499
UTRK News .0157 Universal Tracking Solutions, Inc. Announces Record First Quarter Results of 2012
2012-06-01 09:30 ET - News Release
Sales Increase 170% from year ago period
PHOENIX, June 1, 2012 /PRNewswire/ -- Universal Tracking Solutions (OTC: UTRK), a fleet management GPS information and tracking provider, today announced financial results for the quarter ended March 31, 2012.
The company announced record sales results for its fiscal 2012 first quarter ending March 31st, 2012. The company reported revenue of $318,478 and a slight profit of $7,442 versus $117,892 of revenue and a (loss) of ($17,220) for the same quarter last year. During the quarter ending March 31st, 2012 gross revenue increased 170% reflecting increased income and higher margin sales in new product lines. As previously stated, new GPS products and GPS services have significantly increased growth.
"The present condition of our new GPS tracking systems and increased demand for this service has positively impacted our core business," said CEO Keith Tench. "While our emphasis is growth, our priority is to keep strong cash flow and profitability. Our commitment to our customers and shareholders alike remains; Universal Tracking Solutions will do whatever it can to maintain our current growth rate," said Tench.
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