Universal Detection Technology Announces Record Revenues for Second Quarter of 2011
Published: Aug 23, 2011
LOS ANGELES, CA--(Marketwire - August 22, 2011) - Universal Detection Technology (www.udetection.com) (OTCBB: UNDT), a reseller of early-warning monitoring technologies that protect against biological, chemical, and radiological threats, announced today that its revenues for the quarter ended June 30, 2011 were the highest in more than two years. The increase is primarily due to high demand for radiation detection equipment both domestically and internationally. The Company is also beginning to see increased sales from its newly remodeled online store, which can be viewed at http://shop.udetection.com/en/1-home.
The Company's second quarter revenues increased 2,675% to $30,508 from $1,099 during second quarter 2010. The Company is also announcing that based on current backlog and recently shipped devices, third quarter 2011 revenues are on pace to surpass the second quarter revenues.
"We are pleased with our revenue growth from the previous quarter and we are on pace for another increase in the next quarter. We have also continually expanded our product offerings throughout the CBRN spectrum and are continuing to grow and nurture our distribution networks. Our plans for the remainder of 2011 include, expanding our sales force, expanding targeted regional advertising, and having more exhibitions at targeted trade shows. Also, as we receive feedback from our customers, we will be taking R&D initiatives to develop products suited for customers in the markets we serve," said Jacques Tizabi, UNDT's Chairman and CEO.
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For more information please visit our website at www.udetection.com.
About Universal Detection Technology
Universal Detection Technology (UNDT) is a developer of monitoring technologies, including chemical, biological, radiological, nuclear (CBRN), and mold detection devices. The company on its own and with development partners is positioned to capitalize on opportunities related to Homeland Security. The Company is a reseller of handheld assays used for detection of five bioterrorism agents, radiation detection systems, and chemical agent detectors. For more information, please visit www.udetection.com.
Forward Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve known and unknown risks and uncertainties, which may cause the Company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements.
Universal Detection Technology