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Gold/Mining/Energy : Unitec Int. Controls Inc. -- Ignore unavailable to you. Want to Upgrade?

To: John B. Smyth who wrote (562)	10/4/1998 11:58:00 PM
From: John B. Smyth	Respond to of 856

UNITEC REPORTS THIRD QUARTER EARNINGS Unitec today reported third quarter earnings of $182,297 on revenues of $2,204,675 for the nine months ended August 31, 1998. Management's focused attention to maintaining profitable growth was demonstrated when compared to the Company's loss of $179,069 over the same period last year. International sales accounted for 58% of the revenue and generated a 53% gross profit, while domestic sales provided a 38% gross profit. The combined gross profit was 46.6%, up 8.3% from the same period last year. Marketing costs were reduced from $445,000 to $170,000 (60%) over the prior year, reflecting a focused support of the Company's existing distribution network. Notwithstanding this, expansion of Unitec's distribution network is underway in selected areas of North America, the Middle East and South Asia. Research and Development expenditures were reduced from $156,000 to $72,000 (54%) over the comparative period last year as engineering enters its final phase of a significant new product development. Having completed three successive quarters of positive earnings growth, financing totaling $1.2 million in equity and loans during the period, a subsequent $500,000 debt financing and with a strong order backlog, Unitec is well positioned to continue its profitable growth through the year and into 1999. Unitec is an emerging growth company specializing in advanced technology telemetry, SCADA (Supervisory Control and Data Acquisition) systems and environmental monitoring equipment for the water, electricity, oil & gas and transportation sectors. It distributes its products and services through an expanding network of independent agencies in North and South America, the Caribbean, Middle East and S. E. Asia. For further information or to obtain a current Fact Sheet, please contact Howard Jampolsky or Tina Hoogeveen at (604) 420-8025 or email adminuic@unitec.ca. Updated product, corporate or trading information may be accessed on Unitec's Internet Homepage at: unitec.ca. On Behalf of the Board of Directors, John B. Smyth, President and Director The Vancouver Stock Exchange has neither approved nor disapproved the information contained herein.