ENGLEWOOD, N.J., July 21, 2005 (PRIMEZONE) -- Ultitek Ltd. (Pink Sheets:UITK) is pleased to announce that the Company realized $604,026 in Gross Revenue for the first six months of 2005. This is an increase of fifty-nine (59%) percent as compared to the first six months of 2004, when Ultitiek realized $354,950 in Gross Revenue.
Ultitek has also increased their Pre-Tax Net Profit by sixty-three (63%) percent for the first six months of 2005 as compared to the Pre-Tax Net Profit for the first six months of 2004. The Company had a Pre-Tax Net Profit of $115,714 for the first six months of 2005 versus $73,360 Pre-Tax Net Profit for the first six months of 2004.
"Ultitek has made great strides over the past year and we will continue to follow our business plan in order to increase shareholder value." stated Roman Price, Chairman and CEO of Ultitek, Ltd.
About Ultitek Ltd.
Ultitek's, Ltd. wholly owned subsidiary TAIS has been a provider of Computerized Airline Reservations Systems software (CRS) since 1989. Today Ultitek, Ltd. is the leader among reservations systems in the Russian Aviation market. In 2003, nine million passengers of 60 airlines were serviced by it, which consisted of more than 50% of the transport of passengers performed on domestic scheduled flights of carriers in Russia and the countries of the C.I.S.
Safe Harbor
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.