Versatile Systems Inc.
TSX VENTURE : VV
AIM : VVS

Versatile Systems Inc.

June 06, 2007 03:15 ET

Versatile Announces Record Sales Orders of U.S. $18 Million

Tyco launches Syncseer™ website

VANCOUVER, CANADA--(Marketwire - June 6, 2007) - Versatile Systems Inc. (TSX VENTURE:VV)(AIM:VVS) today announces that the Company has received record contracted sales orders for the current quarter of U.S. $18,016,260. These orders are for software, hardware solutions, support, professional services, and maintenance, from both existing and new customers. The Company expects that the majority of the revenue derived from these sales orders will be recognized this quarter.

These orders cover a broad range of industries and customers including:

- Manufacturing - Tyco Electronics, Motorola and Cadbury;

- Major Universities - Penn State, Harvard and Ohio State;

- Healthcare - Thermo Fisher Scientific, Fisher Scientific and Respironics;

- Retail - Albertsons, Toys "R" Us and Sheetz; and

- Others - Comcast, Mine Safety Appliances, Paychex and Iron Mountain.

Tyco launches Syncseer™ website

Tyco Electronics, in conjunction with Versatile, has launched the Syncseer™ website: www.syncseer.com. The website features three industry sectors for this solution:

- Healthcare - to improve patient service and safety by tracking the location, utilization and accessibility of key mobile assets;

- Education - to increase campus safety and operational efficiency by providing an improved level of personal and asset security while integrating with existing identity and access management systems; and

- Entertainment, Gaming and Retail - to drive revenue through improved experience.

About Versatile

Versatile provides business solutions that enable companies to improve sales, marketing and distribution of their products. Versatile also provides information technology services for the implementation, maintenance and security of mission-critical computer environments. Versatile has the ability to architect solutions involving both proprietary and third party components. For more information: www.versatile.com.

Forward-Looking Statements

This document may contain forward-looking statements relating to Versatile's operations or to the environment in which it operates, which are based on Versatile's 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's 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 disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

All amounts are expressed in U.S. dollars unless otherwise stated. (C) 2007 Versatile Systems 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 Systems Inc.
    John Hardy
    Chairman and CEO
    1-800-262-1633
    International: 001-206-979-6760
    or
    Versatile Systems Inc.
    Fraser Atkinson
    CFO
    1-800-262-1633
    Website: www.versatile.com