ULTR... No one noticed it... News hit the wires just before lunch!
ST. LOUIS, July 9 /PRNewswire/ -- Ultradata Systems (Nasdaq: ULTR - news), a marketer of hand-held information and navigational devices for the consumer market, told shareholders at the company's annual meeting today that Ultradata has obtained a purchase order for 50,000 units of its Road Whiz electronic travel and information guide from a major nationwide retailer. It announced that it has also received purchase orders totaling 90,000 units from a major TV shopping network. Financial terms of the agreements were not disclosed.
''We're very excited to get our largest contract ever with a major national retailer, which has significant potential to build brand equity for the Road Whiz, one of our core products, and traditionally one of our best-selling products,'' said David Biernbaum, chief operating officer. ''The retailer has indicated to us that the product, which is scheduled to be in stores this fall, will be supported with advertising and in-store displays. This is significant exposure for Road Whiz. If the product sells well, there is certainly the potential for future product orders. Further, the TV shopping orders represent the largest amount of Ultradata units ever ordered by a company selling direct to consumers, and should expose the product to millions.''
Biernbaum also noted to shareholders that the company is progressing in discussions with several nationwide retailers and organizations that could lead to other significant sales and marketing opportunities. He explained that the company is making one of its most extensive commitments ever to supporting its products with advertising and marketing.
Ultradata uses proprietary data compression technology to create small battery-powered guides that contain volumes of information on popular subjects. Among the company's core products are the Road Whiz and UltraFinder travel-related guides, The Garden Guru and Home and Garden Guide, which contain garden and home information, and The Golf Guide, which provides detailed information on more than 13,000 U.S. golf courses.
Ultradata develops, manufactures, and markets hand-held battery-operated data terminals used for locating destinations, planning trips, and for hobbyists. The company's recently introduced Travel*Star GPS driver information system, a small terminal plugged into an automobile cigarette lighter, offers the benefits of real-time GPS navigation and location at a fraction of the cost of factory-installed Global Positioning Systems. At the 1998 Consumer Electronics Show, Travel*Star GPS received an Innovation Award.
To participate in the rapidly growing GPS market, Ultradata holds an 18.9 percent equity stake in Talon Research & Development, Ltd., a New Zealand-based manufacturer of GPS receivers and marine electronics, and a 70 percent ownership of a joint U.S. venture with Talon specializing in GPS products and systems.
This press release may contain forward-looking statements within the meaning of applicable federal securities laws. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or other changes. Readers are cautioned not to place undue reliance on these forward-looking statements. Risk factors include but are not limited to consumer acceptance of new products; the ability to secure contracts for the Road Whiz and other hand-held electronic devices discussed in this release; consumer acceptance and use of automotive aftermarket navigation products using global positioning satellite technology, and the eventual willingness of national retailers to carry and promote the product; the overall retail and economic climate; the long-term financial performance of Talon and potential acquisitions; the company's ability to establish distribution channels for its key products, long-term relationships with suppliers and favorable pricing and materials contracts with outside manufacturers. Additional information relating to historical financial and operational performance, the company's strategies, competitive risks, and market conditions are available in Ultradata's reports on Form 10K and 10Q on file with the Securities and Exchange Commission.
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SOURCE: Ultradata Systems, Inc.
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