Versatile Mobile Systems (Canada) Inc.
TSX VENTURE : VMS

Versatile Mobile Systems (Canada) Inc.

May 30, 2005 21:22 ET

Versatile Announces Record Sales Orders of $9.4 Million

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 30, 2005) - Versatile Mobile Systems (Canada) Inc. (TSX VENTURE:VMS) today announces that from the closing of the Perfect Order acquisition to May 27th, 2005 the company has received new sales orders of $9,454,275.

The total includes $6,481,395 of orders invoiced to over 70 customers during this period for software sales, support, professional services, maintenance, and hardware. The largest of these was $675,958 for a U.S. based national retailer. In addition, Versatile has received sales orders of $2,972,880, which have yet to be invoiced.

The Company now has an order backlog, which has not yet been invoiced, of $11,687,839, which includes the $2,972,880 referred to above. The majority of the order backlog is represented by sales orders from six customers totaling $7,892,376. The details of these sales orders are as follows:

- An infrastructure maintenance contract covering two and a half years from a global Pharmaceutical company in the amount of $1,466,433

- A systems support contract covering one and a half years from a global Financial Services company in the amount $818,193

- A technology maintenance contract covering two years from a global Consumer Packaged Goods company in the amount of $1,769,837

- Consulting services contracts and equipment sales from two Telecommunication companies totaling $2,076,293, which are expected to be delivered in the next two quarters

- A bar code technology product sale and hardware maintenance contract covering the next three quarters to a U.S. National Retailer for $1,761,620

The acquisition of Perfect Order has extended the reach of the Company into new industry sectors of telecommunications, pharmaceutical and financial services. Versatile now has the capability to deal with the complex data problems facing enterprise customers including storage, network, database, web services, remote data collection and security.

About Versatile

Versatile provides mobile business solutions that enable companies to improve sales, marketing and distribution of their products. By using Versatile's technology, companies in the consumer packaged goods, and transportation industries have gained the benefits of supply chain visibility, shortened fulfillment cycles and improved customer satisfaction. Versatile's international customer list includes Cadbury Schweppes, Albertsons, Michaels, Nordstrom, K&L Distributors, and Kellogg. Versatile's Perfect Order division provides information technology services for the implementation, maintenance and security of mission-critical computing environments. Perfect Order has the ability to architect solutions involving both proprietary and third party components. Customers include Motorola, Tyco (AMP), Comcast, Adelphia Communications, Time Warner(AOL), Mellon Financial, HSBC, Astra Zeneca, and Bristol Meyers Squibb. Additional information is available at http://www.versatilemobile.com.

Forward-Looking Statements

This document may contain forward-looking statements relating to Versatile Mobile Systems' consolidated operations or to the environment in which it operates, which are based on Versatile Mobile Systems' consolidated operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond Versatile Mobile Systems' control. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward looking statements. Consequently readers should not place any undue reliance on such forward-looking statements. In addition, these forward looking statements relate to the date on which they are made. Versatile Mobile Systems disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

(C) 2005 Versatile Mobile Systems (Canada) Inc. All rights reserved.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Versatile Mobile Systems (Canada) Inc.
    John Hardy
    Chairman and CEO
    1-800-262-1633 or from Europe: 011-425-778-8577
    or
    Versatile Mobile Systems (Canada) Inc.
    Fraser Atkinson
    CFO
    (604) 683-2915, ext. 214
    http://www.versatilemobile.com