Advanced ID Corporation Announces Record Revenues for First Quarter of 2003.Business Editors/High-Tech Writers LAS VEGAS--(BUSINESS WIRE)--May 21, 2003 - 83.4% Increase In Q1 2003 Revenues As Compared to Q1 2002 Continuing its consistent quarterly revenue growth, Advanced ID Corporation, (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AIDO AIDO Associazione Italiana Donatori Organi (Organ Donors Italian Association) ), a pioneer in the radio frequency identification See RFID. (RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. ) market, today announced that it has achieved record revenues of US$221,815 for its fiscal 2003 first quarter ended March 31, 2003. Advanced ID posted an 83.4% gain over fiscal 2002 first quarter revenues of US$120,928. The increase in revenues was driven by increased sales of both RFID chips in the companion animal market as well as increased acceptance of the Company's Internet-based PETTrac software and database system, which brings people together with their lost pets. A growing number of veterinarian veterinarian /vet·er·i·nar·i·an/ (vet?er-i-nar´e-an) a person trained and authorized to practice veterinary medicine and surgery; a doctor of veterinary medicine. vet·er·i·nar·i·an n. offices, animal shelters, and SPCAs have adopted the PETTrac system. Advanced ID also realized an increase in government contracts. "While we have been investing heavily in bringing our RFID technologies to new markets such as domestic and global livestock industries as well as inanimate markets, we continue to build on our core business in the companion animal market." stated Mr. Barry I. Bennett, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Advanced ID. "We are pleased that our team can continue to produce strong growth in our current markets while nurturing new opportunities." About Advanced ID Corporation Advanced ID Corporation, through its wholly owned Subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , is a pioneer in the radio frequency identification (RFID) market. RFID allows for the positive identification and location tracking of animals or objects that have been identified with a tiny microchip. The Company currently markets RFID microchips, scanners, and its proprietary PETTrac database to the companion animal market, as well as for tracking of animals in the wild, including endangered species endangered species, any plant or animal species whose ability to survive and reproduce has been jeopardized by human activities. In 1999 the U.S. government, in accordance with the U.S. . Through organic growth and acquisition, Advanced ID Corporation is positioned to enter and considerably impact several significant new markets. For more information please visit the Company's website at www.advancedid.ca. Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion