PHOENIX, Aug. 4, 2011 /PRNewswire/ -- Universal Tracking Solutions (Pink Sheets: UTRK), a fleet management GPS information and tracking provider, today announced financial results for the quarter ended June 30, 2011.
Revenue for the second quarter of 2011 was $166,259 compared with $144,113 in revenue for the same quarter of the prior year, an increase of 15%. Net income was $33,696 in the second quarter of 2011, compared with a net income (loss) of $(4,227) in the second quarter of 2010, an increase of $37,923. Moreover, revenue for the second quarter of 2011 was up $48,367 compared to the first quarter of 2011, an increase of 41%.
Universal Tracking Solutions is laying the foundation for becoming national provider of fleet management GPS information and tracking systems. The Company has made numerous strides to progress in a positive direction that management believes will build a foundation for shareholders to see the benefits of in 2011 and beyond. As Universal Tracking Solutions moves forward in 2011, the Company expects both revenues and profitability to continue to increase. Universal Tracking Solutions is focused on increasing sales and exploiting new revenue producing opportunities.
Keith Tench, Chief Executive Officer, commented: "We had a good quarter and our business continues to grow. Consistent revenue growth reflects our strengthening position as a premier fleet management GPS information tracking company. Our outlook for 2011 continues to remain positive and we remain confident about the market opportunity ahead of us. We continue to experience growth in sales. The Company continues to effectively execute its business plan and we look forward to a strong second half of the year."
About Universal Tracking Solutions, Inc. (Pink Sheets: UTRK)
Universal Tracking Solutions, Inc. (Pink Sheets: UTRK) is a Mobility Solutions Company delivering the most advanced products in GPS Fleet Management, Telemetry and Telematics. UTS provides these solutions to a wide array of market verticals including but not limited to construction, community transportation, governmental agencies, HVAC, heavy equipment rental, transportation/logistics, waste management, and many more. Third part integration and custom development capabilities set UTS apart, giving clients the most beneficial mobility management tools available.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
UTS is dedicated to increasing shareholder value and investor awareness. If you have any further questions or comments we would be happy to speak with you further.
SOURCE Universal Tracking Solutions, Inc.