Ultitek has been a provider of computerized Airline Reservation Systems software since 1989. The company has grown significantly since then and has serviced over 9 million passengers on 60 different airlines.
The company announced earlier this week that it will not sublicense its Distribution System and will instead enter the Airline Distribution business directly. The CEO stated, “The Airline Distribution marketplace is too lucrative to pass up. The time is right for Ultitek to exploit our technical expertise and increase our revenues and profits.”
On May 30th, the company announced that it increased revenues 29% for the first quarter. The company also announced that its audited revenues for the 2006 fiscal year were approximately $1.8M, representing an increase of approximately 59%.
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