MONTREAL, Nov. 6, 2007 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Pink Sheets:ABSY) disclosed today that following several months of successful in-store operation, the Company's RFID-based intelliTRACKER(tm) product suite at a major customer location, a contract for deployment of the system into additional stores is expected shortly.
The Company is delighted with the customer's intention to move forward. The anticipated contract not only represents a major accomplishment and revenue milestone for AbsoluteSKY, but also sets a new performance paradigm for RFID-based inventory tracking at the item-level in the retail industry.
Working with its strategic partner, Fujitsu Transaction Solutions, the parties installed AbsoluteSKY's real-time, long range inventory tracking system at the end of May 2007. After several months of data gathering by the customer, a noted leader in the retail industry, the operational results have been nothing short of a breakthrough in providing an automated and accurate business system for item-level inventory tracking.
Key findings included:
* 100 percent read rate with no system issues
* 21 percent reduction in out-of-stock merchandise
* Increased comparative sales for the tagged inventory categories
* Increased gross margin on tagged inventory classes
* Low cost per use of approximately eight cents
(intelliTRACKER's anti-tamper tags are re-useable over a 5-year
lifespan)
* Significant return on investment (ROI)
Some additional factors noted were:
* System installation and item tagging proved quick and efficient;
system operation and user interaction both easy to learn and
intuitive;
* Zoning made it very easy for employees to locate merchandise and
set business rules and conditions relative to individual zones;
* Being browser-based, interaction with the intelliTRACKER(tm)
application by store personnel was performed directly, remotely
or via mobile devices (via laptop, PDA, etc). The system also
features security layers and configurable access control.
Additional details would soon be released on the project as well as other projects and opportunities the Company is working on with Fujitsu Transaction Solutions. AbsoluteSKY will also be exhibiting the intelliTRACKER(tm) Product Suite at NRF 2008, the National Retail Federation show in New York City January 13-16, 2008.
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Pink Sheets:ABSY) specializes in the design, development and implementation of Radio Frequency IDentification (RFID) technology that provides real-time item-level inventory tracking for retail customers. Based in Montreal, Canada, the company's business model combines strategic, creative and technical skills to deliver solutions that help its clients achieve their business objectives through the use of AbsoluteSKY's breakthrough technology and extensive knowledge of their business operations. For more information visit: www.absolutesky.ca.
AbsoluteSKY's Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements". Forward looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.