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USTelematics Earns Net Income of $1.3 Million

By Arvind Arora, TMCnet Contributing Editor

USTelematics (News - Alert), which utilizes its proprietary technology to create products that catalyzed the connected-car revolution, has declared revenues and earnings the quarter ended February 29, 2008.

 

According to a report released by the company, after the introduction of the Company’s Voyager Mobile IPTV brand of rear-seat mobile television and infotainment products, USTelematics started generating initial revenues. Approximately $2.7 million have been reported in the Other Income category accounting for income relating to derivative financial instruments; and Net Income of approximately $1.3 million has been declared for the three months ended February 29, 2008.

 

Howard Leventhal, Chief Executive Officer of USTelematics pointed out in a statement that the notable point about this quarter’s financial performance is that the company has started to generate revenues from its new Voyager product line. He noted that company's work up to this quarter has been directed toward the research and development of its Voyager Mobile IPTV (News - Alert) and other product lines, and now the results of its performance in the marketplace have just begun to show up, making it a very exciting time for USTelematics and its shareholders.

 

The Voyager line was introduced by USTelematics at the January 2008 International Consumer Electronics Show (CES (News - Alert)) and since then has gone into several distribution alliances with different retail chains and distributors of consumer electronics.

 

USTelematics has recently made a contract manufacturing arrangement with Avnet; an embedded systems assembler, in order to produce Voyager in enough quantity for mass retail channels.

 

USTelematics works to develop and commercialize newer and proprietary technologies for car-based communication, delivering high speed data and entertainment content to private and commercial vehicles. The growth opportunities of the company have been quite good in the projected $58 billion global telematics marketplace. Its products provide a full range of next-generation rear seat infotainment, and offers an advance over the old DVD-only systems which are still very common in the rear seat entertainment industry.

 

 

Arvind Arora is a contributing editor for TMCnet. To read more of Arvind’s articles, please visit his columnist page.

 

Don’t forget to check out TMCnet’s White Paper Library, which provides a selection of in-depth information on relevant topics affecting the IP Communications industry. The library offers white papers, case studies and other documents which are free to registered users. Today’s featured white paper is, Best Practices in Agent Retention brought to you by Enkata.

 

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