CUMMING, Ga., Sept. 26, 2006 (PRIMEZONE) -- PlanetLink Communications Inc. (OTCBB:PLKC), a provider of GPS satellite-based products and services, announced today that the Company reported record revenues during the first three quarters ending September 30, 2006.
Revenues for the third quarter of 2006 were approximately $101,000, a 141% increase over revenues of approximately $42,000 for the third quarter of 2005. Revenues for the first three quarters of 2006 were approximately $248,000, an increase of 78% over revenues of approximately $139,000 for the first three quarters of 2005.
"The continued sales growth is a result of our efforts to promote our products with our growing sales team. We have high expectations for a banner yearend. Our sales team continues to perform at a high level and we look forward to additional positive revenue announcements in the future," commented M. Dewey Bain, Chief Executive Officer of PlanetLink.
Mary Hitt, Director of Finance for the Company, commented, "This increase in revenues is directly in line with our projections. We are pleased with the results of this quarter and look forward to the fourth quarter of 2006 as being our best quarter yet. We expect to see consistent and solid growth through year-end 2006."
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About PlanetLink Communications, Inc.
PlanetLink Communications, Inc. recently launched its TransTRAK product through its wholly owned subsidiary, PlanetTRAKS. The Company is developing a family of GPS-enabled products and services under the PlanetTRAKS name. TransTRAK is the first of these products and is the Company's turnkey solution for real-time, mobile asset management. From tracking vehicle speed and location in real-time to controlling vehicle functions through remote access, TransTRAK allows the customer to actively monitor and manage virtually any type of mobile asset. For more information on PlanetLink, please visit the company's Website at: http://www.planettraks.com
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis" or "Plan of Operation" and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission. The Company will provide you with copies of this information upon request.