Ultra Shield Revenues Soar 1262 Percent in First Nine Months|
September 21, 1998 07:58 AM
RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--Nov. 18, 1997--Ultra Shield Products International Inc. USPDU , Tuesday announced sharply higher revenues and reduced losses for the nine months ended Sept. 30, 1997.
Revenues were $1,558,309, up 1262 percent from the $114,398 reported for the first nine months of 1996. Losses were $848,082, down 21 percent from $1,067,750. Per-share losses fell 47 percent to 5.4 cents, compared with 10.2 cents for the first nine months of 1996.
For the third quarter alone, revenues were $842,123, up 1762 percent from $45,238 in 1996's third quarter. Losses were $86,566, down 82 percent from $487,971 in 1996's third quarter.
Shares outstanding were 15,635,927 at Sept. 30, compared with 10,514,395 a year earlier.
J.W. Rutherford, the company's president and chief executive officer, said the 14-fold sales increase reflects strong demand by fast-food restaurants for the company's line of proprietary "environmentally preferred" specialty chemical products and Blend Center and Dial-A-Blend dispensers that improve worker productivity.
"Our products work better and save our customers up to 50 percent in costs while being safe for the environment," Rutherford explained.
Ultra Shield manufactures a broad line of water-based products to clean, deodorize, degrease and disinfect. The company has installed more than 1,650 Blend Center dispensers at franchisees of Taco Bell, Little Caesar's Pizza, Kentucky Fried Chicken, Jack in the Box, King Taco, A&W Root Beer, Dairy Queen, Carl's Jr., Del Taco, Baskin Robbins, TCBY Yogurt, Domino's and Pizza Hut. An additional 278 units are on order.
Rutherford said that several additional national distribution agreements are in negotiation and are expected to be signed soon.
Ultra Shield products are also used at Disneyland, Disney World, Huck Aerospace, Universal Pictures, Texaco, Arco, Shell and 5,500 locations of federal government agencies.
The company's cleaning products are 100 percent biodegradable and virtually non-polluting. Ultra Shield's Cleaner Concentrate, for example, produces only 1.4 percent volatile organic compounds (VOCs), compared with the 10 percent allowed under California's strict anti-pollution regulations.
The Cleaner Concentrate also has been approved as a Clean Air Solvent by the South Coast Air Quality Management District.