SOURCE: Ultitek Ltd.

October 30, 2007 08:31 ET

Ultitek Ltd. Announces 85% Gross Revenue Increase for 3rd Quarter of 2007

ENGLEWOOD CLIFFS, NJ--(Marketwire - October 30, 2007) - Ultitek Ltd. (OTCBB: UITK) is pleased to announce that we filed 10Q and the Company's revenues for the third quarter fiscal year 2007 were approximately $525,000, representing an increase of approximately eighty-five percent (85%) compared to $284,000 reported in the second quarter 2006. The last nine months revenue also increased from approximately $1,110,000 to $1,802,000. That represents an increase of sixty-two percent (62%).

"We are very pleased with the quarterly and nine months revenue. We look forward to continued increases in the months to come," said Roman Price, CEO and Chairman.

The Company's audited financial statements are included in the Company's Annual Report on Form 10-KSB filed with the Securities and Exchange Commission which is available free of charge through the SEC's website, www.sec.gov.

About Ultitek Ltd.

Through its wholly owned subsidiary, TAIS, Ultitek Ltd. has been a provider of Computerized Airline Reservations Systems software (CRS) since 1989. Today Ultitek Ltd. is the leader among reservations systems in the Russian Aviation market. In 2003, nine million passengers of 60 airlines were serviced by it, which consisted of more than 50% of the transport of passengers performed on domestic scheduled flights of carriers in Russia and the countries of the C.I.S.

PSLRA SAFE HARBOR

The information in this news release includes certain forward-looking statements as defined in the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. The matters described in these forward-looking statements are based upon assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond Ultitek's control. Ultitek faces many risks that could cause its actual performance to differ materially from the results predicted by its forward-looking statements. Although Ultitek believes that the expectations reflected in forward-looking statements are reasonable, because of those risks, Ultitek's actual results, performance or achievements may differ materially from the results, performance or achievements contemplated by its forward-looking statements. Accordingly, it can give no assurance that the expectations of any of its forward-looking statements will prove to be correct. The information set forth in this news release represents management's current expectations and intentions. Ultitek assumes no responsibility to issue updates to the forward-looking matters discussed in this news release.

Contact Information

  • Contact:
    Ernest J. Sabato
    Ultitek Ltd.
    560 Sylvan Avenue
    Englewood Cliffs, New Jersey 07632
    Telephone: 1-201-541-1700
    or 1-888-ULTITEK
    Fax: 1-201-541-1778
    Email address: ejs@ultitek.com
    http://www.ultitek.com