PERTH AMBOY, N.J., March 13, 2007 (PRIME NEWSWIRE) -- U.S. Starcom (Pink Sheets:USTA), announced today that it earned $.02 per share in the 4th quarter, and $.01 per share for the year 2006, its first full year of operations. Contributions to earnings and revenues came from all three of the company's operating divisions: Sky Distribution, Bell Latino, and U.S. Starcom's Telecom division. Results from U.S. Starcom's ITG divisions were not included, as that division was spun off effective 12/28/06. Shares of the new company, as previously announced, will be spun off to U.S. Starcom shareholders.
"We're thrilled with the direction the company is heading," said John DiDomenico, President of U.S. Starcom. "Even if we exclude the revenues from our newest division, Bell Latino, our two other divisions contributed revenues of $3,203,891, more than a 20 fold increase over our 4th quarter revenues of $146,465 last year. The company is currently in product development with specific tier 1 entities in the industries of banking, stored value, telecommunications and digital content -- including music -- and we are confident that shareholder value will be positively impacted in the coming 24 months. In addition, on Tuesday of last week, March 6th, we entered into a Letter Of Intent to purchase a Retail and Wholesale Telecommunications Carrier. We intend to close this transaction sometime during this month of March. This acquisition will add $8-12 million to our revenues in 2007, and significantly more in 2008. Based on this, and other initiatives that we anticipate to announce in coming months, we expect record revenues and earnings for the first quarter, as well as the full year. We thank our shareholders for their continued support, and encourage everyone to review our full set of financials, which are posted at www.pinksheets.com."
About U.S. Starcom: The company is a leader in providing value added services to enhance communications and entertainment. With a sales distribution network extending to thousands of urban locations, U.S. Starcom continues its rapid expansion into the distribution of alternative communication products and services, including music, international long distance, prepaid services, wireless dial around applications, stored value services, money debit cards, and internet service enhancements. U.S. Starcom provides access to the latest entertainment offerings from the recording industry through strategic alliances and joint distribution campaigns. The company provides product development, distribution, and system installation through its two independent subsidiaries, Sky Distribution and U.S. Starcom Technologies, formerly known as Infinite Technology, Inc.
Safe Harbor Statement: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers . Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.