SOURCE: Ultimate Sports, Inc.

Ultimate Sports, Inc.

February 18, 2009 09:00 ET

Ultimate Sports, Inc. Reports 2008 Annual Results

LAFAYETTE, IN--(Marketwire - February 18, 2009) - Ultimate Sports, Inc. (PINKSHEETS: USPS), a manufacturer and supplier to the recreational vehicle industry, today announced fiscal results for the year ending December 31, 2008.

Revenues for the company grew near 45% in 2008 versus 2007 with net income increasing from $24,700 to $97,952 for the same period. Ultimate Sports contributes the increased sales and earnings to its expanded distribution network and favorable market conditions.

In other news, Ultimate Sports announced that it has rescinded its Letter of Intent to acquire ePower Synergies. The company's Board of Directors has determined through the due diligence process that the acquisition would not be in the best interest for Ultimate Sports' shareholders.

"We are very pleased with the significant growth in our revenues and net income during 2008," stated President Martin Maassen. "In 2009, we anticipate leveraging Ultimate Sports' resources to expand operations through mergers and acquisition. Our Directors are currently engaged in advance negotiations with a number of companies that complement our model."

www.usi-skis.com

Forward-Looking Statements

This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.

Contact Information

  • Contact:
    Ultimate Sports, Inc.
    (765) 423-2984