Revenues up 280% and gross profit up 154% over the prior year
Backlog at approximately $110 million
Costa Mesa, Calif. (ANTARA News/PRNewswire-AsiaNet) - Astrata Group (OTC Bulletin Board: ATTG) today announced record revenue of $13.4 million for the fiscal year ended February 29, 2008, up $9.9 million, or 280+% over the prior year period. Gross profit for the same period was $4.0 million, up 154% from $1.6 million in the prior year. The Company announced a reduction in net loss, recording $9.5 million for the year ended February 29, 2008, down $5.5 million or 35% from the prior year. The Company also reported a record backlog of approximately $110 million as of February 29, 2008.
Martin Euler Astrata's CEO said, "We believe that today's announcement of record revenues, substantial backlog, and greatly reduced losses indicates the strength and viability of our long term strategic growth plan. We are enjoying a high rate of new and repeat orders for our products, and an increasing need for our technology. We will continue our growth plan, both organically and through acquisitions."
Euler added: "We have recently brought to market our new GLP100 -- A compact, state of the art GPS tracking device specifically developed to meet the rigorous demands of homeland security applications. A primary feature of the GLP100 is its small and lightweight form, making it easy to conceal. It boasts real-time monitoring, secure communications and expandability to other sensors, effectors and data devices.
Euler concluded: "Our Telematics products continue to be in demand for fleet management and vehicle real-time tracking for private enterprises and homeland security applications. Our sophisticated security and communications systems give companies and governments an effective and proven means of protecting their resources. We, therefore, think that we are targeting the right markets, with the right technology, at the right time."
About Astrata Group, Inc.
Astrata Group, Inc., (OTC Bulletin Board: ATTG) is headquartered in Costa Mesa, California. The Company is focused on advanced location-based IT services and solutions (telematics) that combine GPS positioning, wireless communications (satellite or terrestrial) and geographical information technology, which together enable businesses and institutions to monitor, trace as well as control the movement and status of machinery, vehicles, personnel or other assets. Astrata has designed, developed, manufactured and currently supports ten generations of telematics systems with units deployed worldwide.
Astrata has offices throughout the world including the United States, Europe the Middle East and Asia. For further information please visit www.astratagroup.com
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Astrata Group Incorporated (the "Company") to be materially different from those expressed or implied by such
forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."
IR/PR/Media Contacts:
Financial/Business Advisors:
Richard Nelson (in-house)
Todd M. DeMatteo
Astrata Group Inc.
DOMINICK AND DOMINICK LLC
rnelson@astratagroup.com
tdematteo@dominickanddominick.com
Tel: +44 (0)7795 422211
Tel: 212-558-8809
Gerald Amato (IR)
Booke & Co.
gamato@bookeandco.com
Tel: 212-490-9095
SOURCE: Astrata Group, Inc.
CONTACT: IR/PR/Media Contacts:
Richard Nelson (in-house) of Astrata Group Inc.,
+44(0)7795-422211,
rnelson@astratagroup.com; or
Gerald Amato (IR) of Booke & Co.,
+1-212-490-9095,
gamato@bookeandco.com; or
Financial/Business Advisors:
Todd M. DeMatteo of DOMINICK AND DOMINICK LLC,
+1-212-558-8809,
tdematteo@dominickanddominick.com
Web site: http://www.astratagroup.com
Backlog at approximately $110 million
Costa Mesa, Calif. (ANTARA News/PRNewswire-AsiaNet) - Astrata Group (OTC Bulletin Board: ATTG) today announced record revenue of $13.4 million for the fiscal year ended February 29, 2008, up $9.9 million, or 280+% over the prior year period. Gross profit for the same period was $4.0 million, up 154% from $1.6 million in the prior year. The Company announced a reduction in net loss, recording $9.5 million for the year ended February 29, 2008, down $5.5 million or 35% from the prior year. The Company also reported a record backlog of approximately $110 million as of February 29, 2008.
Martin Euler Astrata's CEO said, "We believe that today's announcement of record revenues, substantial backlog, and greatly reduced losses indicates the strength and viability of our long term strategic growth plan. We are enjoying a high rate of new and repeat orders for our products, and an increasing need for our technology. We will continue our growth plan, both organically and through acquisitions."
Euler added: "We have recently brought to market our new GLP100 -- A compact, state of the art GPS tracking device specifically developed to meet the rigorous demands of homeland security applications. A primary feature of the GLP100 is its small and lightweight form, making it easy to conceal. It boasts real-time monitoring, secure communications and expandability to other sensors, effectors and data devices.
Euler concluded: "Our Telematics products continue to be in demand for fleet management and vehicle real-time tracking for private enterprises and homeland security applications. Our sophisticated security and communications systems give companies and governments an effective and proven means of protecting their resources. We, therefore, think that we are targeting the right markets, with the right technology, at the right time."
About Astrata Group, Inc.
Astrata Group, Inc., (OTC Bulletin Board: ATTG) is headquartered in Costa Mesa, California. The Company is focused on advanced location-based IT services and solutions (telematics) that combine GPS positioning, wireless communications (satellite or terrestrial) and geographical information technology, which together enable businesses and institutions to monitor, trace as well as control the movement and status of machinery, vehicles, personnel or other assets. Astrata has designed, developed, manufactured and currently supports ten generations of telematics systems with units deployed worldwide.
Astrata has offices throughout the world including the United States, Europe the Middle East and Asia. For further information please visit www.astratagroup.com
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Astrata Group Incorporated (the "Company") to be materially different from those expressed or implied by such
forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."
IR/PR/Media Contacts:
Financial/Business Advisors:
Richard Nelson (in-house)
Todd M. DeMatteo
Astrata Group Inc.
DOMINICK AND DOMINICK LLC
rnelson@astratagroup.com
tdematteo@dominickanddominick.com
Tel: +44 (0)7795 422211
Tel: 212-558-8809
Gerald Amato (IR)
Booke & Co.
gamato@bookeandco.com
Tel: 212-490-9095
SOURCE: Astrata Group, Inc.
CONTACT: IR/PR/Media Contacts:
Richard Nelson (in-house) of Astrata Group Inc.,
+44(0)7795-422211,
rnelson@astratagroup.com; or
Gerald Amato (IR) of Booke & Co.,
+1-212-490-9095,
gamato@bookeandco.com; or
Financial/Business Advisors:
Todd M. DeMatteo of DOMINICK AND DOMINICK LLC,
+1-212-558-8809,
tdematteo@dominickanddominick.com
Web site: http://www.astratagroup.com
