SOURCE: US Starcom Inc.

March 25, 2008 09:54 ET

US Starcom 2007 380% Net Income Increase; 357% Revenue Increase

PERTH AMBOY, NJ--(Marketwire - March 25, 2008) - US Starcom (PINKSHEETS: USTA) reported both its 2007 year end results and its 4th quarter results. Revenues were $22,514,758 for 2007 compared to $6,249,886 for 2006. 2007 Revenues increased 357% when compared to 2006. Net Earnings for 2007 were $957,480 compared to $251,695 for 2006. 2007 Net Earnings increased 380% when compared to 2006. Net Income per share for 2007 was $.02 compared to $.005 for 2006. 2007 Net Income per share increased 400% compared to 2006. The year was also significant for a number of other reasons:

--  In the first quarter of 2007, US Starcom acquired Mundetel
    Communications, a domestic and international wholesale provider of telecom
    services. Mundetel's revenues grew to approximately $15 million in 2007
    from $11 million in 2006.
--  In the 4th quarter of 2007, the company acquired another domestic and
    international telecom services provider, Total Net Connex. We anticipate
    that this acquisition will be a large contributor to revenues and profits
    in 2008.
--  The Bell Latino leadership has been expanded with the addition of a
    few key, hands on senior management specialists. Bell Latino, a provider of
    vital financial/communication services to the Latino community will benefit
    greatly form the addition of these personnel. Bell Latino plans for 2008
    include major technical advances, an expanded retail product line plus the
    addition of a significant number of strategically placed new locations.
--  "We were very pleased with our results for 2007," said John
    DiDomenico, Chairman and Chief Executive Officer of US Starcom. "With the
    acquisition of Mundetel and Total Net Connex we have acquired an
    experienced Telecom Services management team as we continue to find new and
    profitable opportunities in this business segment. We are very excited
    about the future potential of our Bell Latino division. As a provider of
    vital specialty retail services to the Hispanic community we are confident
    that this division will contribute significantly to the long term prospects
    of US Starcom. Our goal to create long term value for our shareholders is
    unwavering and we encourage shareholders to review the entire 2007
    results... visit," said Mr. DiDomenico.

Safe Harbor Statement

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

Contact Information

  • Contact:
    Robert Steinberg