Versatile Systems Inc.
TSX VENTURE : VV

Versatile Systems Inc.

February 01, 2006 04:00 ET

Versatile Completes $1.8 Million Contract; Deploys the Infrastructure to Expand Field Service and Sales Force for a Global Security Firm

SEATTLE, WASHINGTON--(CCNMatthews - Feb. 1, 2006) - Versatile Systems Inc. (TSX VENTURE:VV), today announced that it has completed the deployment of a mobile computing technology sale and services contract to a global security firm for $1,821,282. Versatile has also received a follow-on order for $340,412, which is expected to be deployed this quarter.

Versatile determined the specifications for an industry leading, General Packet Radio Service ("GPRS") enabled rugged computer running a proprietary application on Microsoft's PocketPC® operating system. Versatile also piloted and tested the system. The enhanced features of the GPRS enabled mobile terminals allow the customer's field sales and service technicians, real time access to critical information based at a centrally located data center. This unique mobile solution allows Versatile's customer to easily expand and train its widely deployed direct and independent contractor sales and service workforce. To date, Versatile has provided value added systems design, device configuration, staging and testing, and will also provide ongoing warranty support and services.

About Versatile

Versatile provides 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 also provides information technology services for the implementation, maintenance and security of mission-critical computing environments. Versatile has the ability to architect solutions involving both proprietary and third party components. For more information go to 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. Versatile's revenues and earnings can fluctuate due to a number of factors, including the timing of substantial orders, the timing of releases of new products, timing of the deployment of solutions for customers and delays by customers. As the operating expenses are determined based on anticipated sales, are generally fixed and are incurred throughout each fiscal quarter, any of the factors listed above can cause significant variations in Versatile's revenues and earnings in any given quarter. 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.

(C) 2006 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
    or
    Versatile Systems Inc.
    Fraser Atkinson
    CFO
    1-800-262-1633
    www.versatile.com