Unitek Ltd is a New Jersey based company that through its subsidiary, Transport Automation Information Systems, has provided computerized airline reservations systems software in Russia and the CIS since 1989. They operate the world’s second largest computerized reservation system business, as measured by the total number of airplanes and airlines using its system, which currently stands at over 30 computer reservation centers, 62 airlines and 5,000 travel agents.
The company’s software product, ULTITEK System, consists of a Computerized reservation System, which is designed to maintain seats inventory for airlines and to assist travel agencies book seats and other travel; a Global Distribution System that provides solutions for travel agencies and in-house corporate travel departments; an Airline Operations System, which enables a subscriber airline to manage the airline’s operations; and a Departure Control System that controls passenger registration and identification, boarding passes, and seating assignments. It also offers consulting and maintenance to the reservation centers, airports, theaters, and other customers.
On average, Airlines spend approximately $5 million annually on data processing, but Unitek offers airlines these services at a much lower cost because the company has already absorbed its major software development costs. This reason, coupled with Russia’s strong economic growth (8-10% annually) is translating to success for Unitek. They posted revenues of $1.87 million for fiscal 2006, which have already been surpassed through the first three quarters of 2007, thanks to year over year revenue growth of 64%. The most astonishing news is that the Management expects geographic expansion and continued strong growth in its core Russian market to continue, which will fuel growth in revenues from less than $3.0 million in 2007 to $15 million in 2008 and $70 million in 2009.
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