ULTR 1.50/1.60..they made a pile of dough in the 4th qtr and it looks as tho that is going to continue...plus, new GPS products are very cool and will be agressively priced...talked to them not long ago and things are going well:
(COMTEX) B: Ultradata Systems Reports 4th Quarter Sales Surge And Returns
o Profitability For Year Ended December 31, 2003
B: Ultradata Systems Reports 4th Quarter Sales Surge And Returns To Profitabilit
For Year Ended December 31, 2003
ST. LOUIS, Mar 29, 2004 (BUSINESS WIRE) -- Ultradata Systems, Incorporated
(OTCBB: ULTR), a leader in the field of hand-held electronic information
systems, today announced audited financial results for the year ended December
31, 2003. The Company has filed the results on its Form 10-KSB with the
Securities and Exchange Commission.
Net sales in 2003 increased to $2.86 million from $1.74 million in 2002, an
increase of 64.4 percent. Ultradata reported net income of $109,695, compared
with a net loss of $2.04 million in 2002. The profit in 2003 occurred because
sales and earnings in the fourth-quarter of 2003 of $1.75 million and $429,582,
respectively, offset the losses that the Company incurred during the first three
quarters of 2003.
Commenting on the results, C.E.O. Monte Ross said, "The successful introduction
of our new product, the Talking Road Whiz(TM), late in the third quarter
resulted in a very strong fourth quarter and a significant backlog for the first
quarter 2004. On December 31, 2003, our backlog was $646,963, compared to a
backlog of $164,864 on December 31, 2002. Since then, we have received over $3
million in orders during the first quarter of 2004."
Mr. Ross continued, "As we expect continued strong sales of the Talking Road
Whiz(TM) and variants, we are looking forward to a profitable 2004. During 2002
and 2003 we implemented a variety of measures to reduce expenditures and
overhead. The result was that our cost of sales in 2003 fell by 21 percent, even
as sales increased, and our operating expenses in 2003 were 27 percent lower
than in 2002. Our overall gross margin for 2003 was 48.1 percent, compared to a
negative gross margin for 2002."
Mr. Ross went on to say, "Our R&D effort during 2003 was less expensive than in
previous years but better focused. We intend to continue to focus our R&D on
developing improved versions of talking travel computers, as we strive for
further market penetration and continued growth in sales. We feel that there is
considerable opportunity for growth in this market niche."
Ultradata Systems, Incorporated (OTC Bulletin Board: ULTR) is a leader in the
field of hand-held electronic information systems. Based in St. Louis, Missouri,
the Company develops, manufactures and markets hand-held travel information
computers, global positioning system (GPS) products and information systems used
for locating destinations and trip planning. The Company's lead product, the
handheld electronic travel information guide, has sold more than three million
units and is marketed through chain drug stores, mass and consumer electronic
retail chains, home centers, the automotive aftermarket, cable TV direct
marketers, premium incentive catalogs and other channels. These products use the
Company's patented data-compression technology and proprietary database to
provide directions to thousands of destinations and services along highways and
in major metropolitan areas.
This press release contains 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 that may
cause future results to differ from those implied in these forward-looking
statements include, but are not limited to, the fact that our limited financial
resources may be insufficient to permit us to develop products and introduce
them to the market, the fact that we rely on a small number of customers so that
the loss of a significant customer could imperil the marketing of an entire
product line, and the difficulty of attracting mass-market retailers to a
seasonal product like the Talking Road Whiz(TM). Additional information relating
to historical financial and operational performance, the company's strategies,
competitive risks, and market conditions are available in Ultradata Systems'
reports on Form 10KSB and 10QSB on file with the Securities and Exchange
Commission.
Ultradata Systems, Incorporated
Condensed Statement of Operations
Twelve Months Ended
December 31,
2003 2002
Net sales $ 2,863,258 $ 1,741,557
Gross profit (loss) 1,376,716 (146,212)
Operating income (loss) 183,468 (1,776,238)
Net income (loss) $ 109,695 $(2,037,733)
Less preferred stock dividends (5,190) (3,600)
Net income (loss) available to common
Shareholders $ 104,505 $(2,041,333)
Income (loss) per share
(basic and diluted) $ 0.02 $ (0.59)
Weighted average shares outstanding
(basic and diluted) 4,872,026 3,444,312
Ultradata Systems, Incorporated
Condensed Balance Sheet
December 31, 2003
Assets
Cash $ 2,926
Accounts receivable, net 627,490
Inventories, net 55,594
Prepaid expenses 5,166
Total current assets 619,176
Property Plant and Equipment (net) 25,958
Other assets 5,444
Total assets $ 722,578
Liabilities and Shareholders' Deficiency
Accounts Payable 460,701
Total accrued expenses and other 90,792
Notes payable - current 173,802
Total current liabilities $ 725,295
Total liabilities 725,295
Common stock 57,838
Additional paid-in capital 8,916,685
Accumulated deficit (8,977,240)
Total shareholders' deficiency (2,717)
Total liabilities and shareholders' deficiency $ 722,578
SOURCE: Ultradata Systems, Incorporated
CONTACT: Ultradata Systems, Incorporated
Ernest Clarke, 314-997-2250
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-0-
KEYWORD: MISSOURI
INDUSTRY KEYWORD: TRAVEL
TRANSPORTATION
SOFTWARE
COMPUTERS/ELECTRONICS
EARNINGS
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