UltraData Systems Announces Record Backlog of $5.6 Million for Delivery in 2000
27 July 2000
UltraData Systems Announces Record Backlog of $5.6 Million for Delivery in 2000
ST. LOUIS - Ultradata Systems, Inc. , announced today at its shareholders' annual meeting that its backlog of purchase contracts scheduled for delivery in 2000 has reached record levels and approximately three times the comparable backlog for 1999 delivery of $1.9 million a year ago.Monte Ross, President and CEO, said "Our firm backlog to be delivered this year approximates $5.6 million, exclusive of other anticipated mass market and special orders which should easily enable the Company to far surpass last year's $5.67 million in reported revenue. Sales for the first six months was approximately $1 million less than a year ago, however, much higher backlog will enable greater revenue and better earnings results in 2000. Year to date sales are less than last year due to the work-in-process of eliminating unprofitable sales. However, given appropriate execution of the outstanding orders including suppliers meeting their stated delivery dates, we expect the year to end on a high note with significant fourth quarter income and profitability from operations for the year." Mr. Ross continued "In addition, Talon Research & Development, in which we have a 25%interest, has indicated their sales in the first six months approximates last year's total sales, showing continuing strong growth. Thus, Talon's operations should be a positive contribution for the year and into the future."
Mr. Ross indicated that company management believes it has turned the corner and with new products coming onstream in addition to the established Road Whiz(R) handheld computer line, significant growth and improved financial performance should continue in 2001. Working prototypes of a low cost Internet appliance for travel information, Internet Triplink and a portable auto-navigation GPS product, TravelStar 24 were demonstrated at the shareholders' meeting.
Ultradata Systems develops, manufactures and markets portable travel computers used for locating destinations and trip planning using the Company's patented data compression technology and proprietary databases to provide directions to thousands of destinations and services along highways and in major metropolitan areas. The Company owns a 25% equity stake in Talon Research & Development, Ltd. Talon is a rapidly growing New Zealand based manufacturer and marketer of GPS receivers and marine electronics. Talon is one of the leading providers of GPS solutions to national and international OEM customers. Ultradata Systems also is a one-third owner of DriveThere.com, an on-line motor club for the new economy . This joint venture web-site is a road travel portal offering routing, travel services and road information.