One of the most talked about events of the beginning of the New Year was the 2008 International Consumer Electronics Show (CES). For companies engaged in proprietary technologies, this was their chance to reach thousands of distributors, customers and representatives from around the world. USTelematics, Inc. was one company to greatly benefit from the global attraction.
The company is focused on the development and commercialization of next-generation, proprietary technologies in order to revamp the “wired car” with features such as high speed data and entertainment content to private and commercial vehicles. In a $54 billion global telematics market, the company is leaving its footprint in the industry.
“The developments at CES are the final step after a long development period, preceding the significant revenue traction we foresee in calendar 2008,” USTelematics CEO Howard Leventhal stated in a press release. “The global media interest and coverage we received during CES coupled with the signing of tier-1 distributors and sales representatives, portends a complete shift away from development stage and to operating revenue early this year.”
The company recently posted its operating results for the quarter ended November, 30, 2007, reporting $6.3 million in earnings for the quarter. As Leventhal explained in a statement, the company works with its accountants, legal counsel and financial advisors each day in an effort to simplify its capital structure as it moves from a development stage company toward becoming an operating company.
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