Any one still out there????
biz.yahoo.com
Wednesday March 25, 8:03 am Eastern Time
Company Press Release
Ultra Shield Revenues Soar 1116% in 1997
RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--March 25, 1998--Ultra Shield Products International, Inc. (OTCBB: USPDU - news) today announced sharply higher revenues and reduced losses for the year ended December 31, 1997.
Revenues were $2,240,864, up 1116 percent from the $184,243 reported for the year ended December 31, 1996. Losses were $831,494, down 26% from $1,120,008 reported a year ago. Per share losses fell 54 percent to 4.5 cents per share, compared with 10.2 cents per share for the year ended December 31, 1996.
For the fourth quarter, revenues were $667,915, up 951 percent from $63,637 in 1996's fourth quarter. Profits were $8,006, up 102 percent from the loss of $482,916 recorded in 1996's fourth quarter.
Shares outstanding were 17,823,036 at December 31, 1997, compared with 11,023,891 a year earlier.
J.W. Rutherford, the company's president and chief executive officer, said the 12-fold sales increase reflects strong demand by fast-food restaurants for the company's line of proprietary ''environmentally preferred'' specialty chemical products and high tech Blend Center, Sink Mate and Dial-A-Blend dispensers/proportioners that improve worker productivity.
''Ultra Shield is the fast food cleaning/sanitizing specialist. Our products perform better and save our customers up to 50 percent in costs while being safe for the environment,'' Rutherford explained.
Ultra Shield manufactures a broad line of water-based products to clean, deodorize, degrease, dishwash and disinfect. The company has installed more than 3,000 Blend Center dispensers at franchises of Taco Bell, Little Caesar's Pizza, Kentucky Fried Chicken, Jack in the Box, A&W Root Beer, Dairy Queen, Baskin Robbins, TCBY Yogurt, Domino's, Papa Johns and Pizza Hut.
Rutherford said that several additional national distribution agreements are in negotiation and are expected to be signed soon.
Ultra Shield products are also used at Disneyland, Disney World, Huck Aerospace, Lockheed, Universal & MGM Picture Studios, Long's Drug Stores, independent Texaco, Arco, Mobil, Shell and 5,500 locations of Federal government agencies.
The company's cleaning products are 100 percent biodegradable and virtually non-polluting. Ultra Shield's Cleaner Concentrate, for example, produces only 1.4 percent volatile organic compounds (VOC's), compared with the 10 percent allowed under California's strict anti-pollution regulations.
The Cleaner Concentrates has also been certified as a Clean Air solvent by the South Coast Air Quality Management District and is the only product to qualify for clean air, water and soil.
''This certification has opened the floodgates for industrial, commercial, janitorial and institutional sales as the only replacement chemical for petroleum based solvents,'' Rutherford explained.
--------------------------------------------------------------------------------
Contact:
Bev Jedynak
312-943-1100
-------------------------------------------------------------------------------- |
