FTRK news after the close yesterday. Jeff
FutureTrak International Increases Production and Kicks Off Nationwide Dealer Certification Program
POMPANO BEACH, Fla.--(BUSINESS WIRE)--May 3, 1999--FutureTrak International, Inc. (NASD BB symbol: FTRK) announced today that they have increased the production for the American made Space Scanner satellite positioning system and have begun their nationwide dealer certification program.
The Space Scanner product line is manufactured entirely by Lockheed Martin (NYSE: LMT), Ocala Operations and is marketed to the mobile industry (i.e. yachts, boats and recreational vehicles).
FutureTrak International, Inc. acknowledged sales of the Space Scanner Next Generation were in excess of $35,000 for last week alone. The Lockheed Martin facility produced 150 units last week and is in the position to increase that amount to over 300 per week.
STI Group, Inc., a wholly owned subsidiary of FutureTrak International, Inc., headed up the launch working closely with the team from Gulfstream Marine Products (GMP), a marine electronics sales specialty organization based in Largo, Fla. GMP became the manufacturers representative in February of this year and has been promoting the products to their existing network of dealers nationwide, most of which are members of the National Marine Manufacturers Association (NMMA) and have a longstanding relationship with Mike Reischmann, President of GMP.
In conjunction with this roll out, FutureTrak International and GMP initiated their first dealer certification program last week at the Lockheed Martin facilities. During the day long event, dealers toured the Lockheed Martin assembly line and were trained in installation procedures, technical support, sales and marketing.
"We are very pleased with the number of sales we've had since our American made Space Scanner Next Generation roll out began," said Steve Remondini, President and Chairman of FutureTrak International, Inc. "Our dealer certification program is unique in that it generates a high level of understanding of the product and technical support at the same time increasing sales. The response we've received on the product and certification program from the dealers and professional marine electronic installers has been positive and we are anticipating great success," he added.
On April 26, FutureTrak International also signed a letter of intent to merge with Celerity Systems, Inc. (NASDAQ:CLRT). After completion of the merger, which will require shareholder approval of both companies, the combined companies will report financial results on a consolidated basis.
FutureTrak International is a provider of integrated entertainment and information products and services concentrating on both the Multi-housing and mobile markets. FutureTrak International has the ability to provide digital television service, Internet Access, Internet Contents, and Telephony Solutions to its client base. For further information contact Stefanie Haden, FutureTrak International, Inc., www.futuretrak.com, 3635 Park Central Blvd. North, Pompano Beach, Fl 33064, Toll Free: 888-752-3474. NASD BB symbol: FTRK. Celerity Systems, Inc. manufactures interactive video services and high speed Internet hardware and software, including Digital Video Servers and Digital Set Top Boxes. For more information about Celerity Systems, Inc., contact Margaret Anderson at (423) 539-3513, NASDAQ:CLRT, www.celerity.com.
Certain statements in this release and the company's financial projections that are not historical fact constitute "forward-looking information." Such forward-looking information involves known and unknown risks, uncertainties and other factors, which may cause the actual results of the company to be materially different from results expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to: customer demand not meeting expectations; lack of consistent supply of materials; lack of adequate distribution markets; and inability to meet customer demand.
CONTACT:
FutureTrak International, Inc.
Stefanie Haden, 954/971-2244
Fax: 954/971-2228
www.futuretrak.com
or
Dennis S. Dobson, Inc.
Dennis S. Dobson, 203/255-7902
KEYWORD: FLORIDA
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