SOURCE: Ultitek Ltd.

November 15, 2005 08:31 ET

Ultitek Ltd. Announces 89 Percent Increase in Revenues for the First Ten Months of 2005

ENGLEWOOD CLIFFS, NJ -- (MARKET WIRE) -- November 15, 2005 -- Ultitek Ltd. (OTC: UITK) is pleased to announce that the Company realized $1,210,148 in Gross Revenue for the first ten months of 2005. This is an increase of eighty-nine (89%) percent as compared to the first ten months of 2004, when Ultitek realized $639,643 in Gross Revenue.

Ultitek has also increased their After-Tax Net Profit by two-hundred and eighty-nine (289%) percent for the first ten months of 2005 as compared to the After-Tax Net Profit for the first ten months of 2004. The Company had an After-Tax Net Profit of $114,479 for the first ten months of 2005 versus $29,371 After-Tax Net Profit for the first ten months of 2004.

"Ultitek has been able to increase our revenues and after-tax net profit because we are able to continue to keep our development costs to a minimum, while increasing the quality of our solutions," stated Roman Price, Chairman and CEO of Ultitek, Ltd.

About Ultitek Ltd.

Ultitek, Ltd.'s wholly owned subsidiary TAIS 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.

Safe Harbor

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.

Contact Information

  • Contact:
    Big Apple Consulting USA, Inc. for Ultitek, Ltd.
    Matt Maguire
    407-884-0444 or 1-866-THE-APPLE