MIAMI--(BUSINESS WIRE)--May 9, 1997--Vitech America, Inc.
(NASDAQ: VTCH) today announced that it has signed contracts to be a
Microsoft OEM licensed supplier. These contracts will allow Vitech,
a US-based, direct marketer of computers, servers and networking
equipment in Brazil, to bundle Microsoft software with the sales of
its brand name PC's, Vitech Vision(TM).
"Along with our three-year warranty, nationwide sales and service
network, and in- house financing programs, the leading edge Microsoft
software in Portuguese makes our computers a compelling 'buy' for the
end-user when compared to our competitors," stated William C. St.
Laurent, President of Vitech America, Inc.
Vitech has adapted the Dell and Gateway selling models to the
Brazilian marketplace. The Company's direct selling strategy creates
pricing power, brand loyalty and an opportunity to sell new products
and services to an expanding base of corporate and individual
end-users. Headquartered in Miami, Vitech assembles and offers its
own brand name personal computers, business systems integration and
network equipment, and related products in Brazil under the names:
Vitech Vision(TM), EasyNet(TM), and MultiShow(TM).
The Brazilian computer market is expected to grow at about 30%
annually for the next eight to ten years. In addition to serving Sao
Paulo and Rio De Janeiro, Vitech focuses on the smaller Brazilian
cities, with populations of two to four million. These smaller urban
centers and rural areas comprise the fastest growing sector of the
Brazilian PC market and have less distribution competition.
Vitech recently reported a 72% gain in net income for the first
quarter of 1997 to $1,789,154, or $0.17 per share, from $1,039,029,
or $0.12 per share a year earlier. There were more than 2 million
additional shares outstanding in the 1997 quarter due to the
Company's initial public offering in November 1996. First quarter
sales at Vitech, rose 45% to $16,994,562 from $11,705,128 in the
first quarter of 1996. |
