SOURCE: Universal Express, Inc.

May 22, 2007 08:00 ET

Universal Express Announces Substantial Improvements for Third Fiscal Quarter

NEW YORK, NY -- (MARKET WIRE) -- May 22, 2007 -- Universal Express, Inc. (OTCBB: USXP) announced today that its financial results for its third fiscal quarter ending March 31, 2007 have substantially improved over its March 31, 2006 third quarter.

Operating revenues increased 391% to $1,212,929 for the third quarter from $306,911 for the 2006 quarter. Operating revenues were $2,687,262 for the nine months ending March 31, 2007 compared with revenues of $807,944 for the nine months ending March 31, 2006, an increase of 333%.

Total stockholders' equity increased to $8,884,094 for the 2007 quarter from $2,552,746 for the 2006 quarter, an increase of $6,331,348 or 348%.

The Company's working capital equity for the 2007 quarter improved substantially to a positive $2,752,918 compared with a working capital deficiency of $454,634 in the 2006 quarter, an increase of over 700%.

Total assets increased to $11,963,171 for the 2007 quarter from $4,898,294 for the 2006 quarter, an increase of over 240%.

"We are pleased with the development and growth of all of our businesses. Revenues from our logistics and international shipping business have more than tripled for the third quarter compared to the 2006 third quarter as they have in the previous five years, and we anticipate an exponential increase this year and in future years as our controlling partnership of Universal Jet has its financials audited by our accountants," stated Richard A. Altomare, Chairman & CEO of Universal Express, Inc.

About Universal Express

Universal Express, Inc. is a 23-year-old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com

Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • For Investor Relations Call:
    Mark Falk
    Universal Express, Inc.
    561-367-6177
    Email Contact