United Systems Technology, Inc. Announces 2004 Results.DALLAS -- United Systems Technology, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :USTI USTI United Systems Technology, Inc. (stock symbol) ) announced today that revenues for the year ended December 31, 2004 were $3,646,142 as compared to revenues of $3,491,499 reported for the year ended December 31, 2003. The company had net income of $316,471 in 2004 as compared to net income of $369,329 for the comparable period in 2003. The Company has completed the development of several new software products, which enhances the competitiveness of its comprehensive software offering. These products are marketed under the asyst(R) brand name, were developed as Windows applications to "look and work like Microsoft Office Microsoft's primary desktop applications for Windows and Mac. Depending on the package, it includes some combination of Word, Excel, PowerPoint, Access and Outlook along with various Internet and other utilities. ", and include a Fund Accounting product line, a Utility Billing product line, a General Government product line and a Public Safety product line. The Fund Accounting product line includes General Ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. , Budget XLence, Report XLence, Accounts Payable, Accounts Receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , Purchase Orders, Cash Receipts, Payroll and Fixed Assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → modules. The Utility Billing product line includes Utility Billing, Service Orders, Meter Reader Interface, Bank Drafts and Budget Billing modules. The General Government product line includes Master and Land Directories, Business and Animal Licenses, Code Enforcement Code Enforcement is the act of enforcing a set of s, principles, or laws (especially written ones) and insuring observance of a system of norms or customs. An authority usually enforces a civil code, a set of rules, or a body of laws and compel those subject to their authority to , Building Permits and Property Tax modules. The Public Safety product line includes Master Name Index, Calls for Service, Offense Reports, Citations, State Interface, Computer Aided Dispatch, Jail Management, Alarm Billing and UCR (Under Color Removal) A method for reducing the amount of printing ink used. It substitutes black for gray color (equal amounts of cyan, magenta and yellow). Thus black ink is used instead of the three CMY inks. See GCR and dot gain. Reports modules. The Company is currently developing additional modules for its asyst(R) product line to add to its existing asyst(R) offerings including a municipal court package and additions to its asyst(R) Dealer Management product line. The asyst(R) Dealer Management product line includes the core asyst(R) accounting modules and will have the additional functionality of point of sale, inventory, repair orders, finance and insurance and fiche Same as microfiche. interface. The Company believes its asyst(R) product line will continue to offer its current and prospective customers an attractive software solution, both from a financial and functionality standpoint and follows the trend of clients moving to Windows based (1) (Windows-based; upper case "W") Refers to Microsoft Windows. (2) (windows-based; lower case "w") Having resizable windows. Same as "graphics based" or "GUI based." Graphical user interfaces are all windows based. Contrast with text based. PC networks. Forward-looking Statements: This Press Release contains forward-looking statements, other than historical facts, which reflect the view of Company's management with respect to future events. Such forward-looking statements are based on assumptions made by and information currently available to the Company's management. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from such expectations include, without limitation, the ability of the Company i) to generate levels of revenue and adequate cash flows from its operations to support and maintain its current cost structure and ii) to develop and deliver products that are competitive, accepted by its markets and are not rendered obsolete by changing technology. The forward-looking statements contained herein reflect the current views of the Company's management with respect to future events and are subject to these factors and other risks, uncertainties and assumptions relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the operations, results of operations and financial position of the Company. The Company assumes no obligation to update the forward-looking statements or to update the reasons actual results could differ from those contemplated by such forward-looking statements. About the Company: USTI develops, markets and supports application software for select vertical markets in both the for profit and not for profit sectors. The software applications operate in IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) midrange, network and single user PC platforms. USTI and its subsidiaries have over 2,100 installations in the United States and Canada.
United Systems Technology, Inc.
Summarized Financial Information
(In Thousands Except Per Share Data)
Year Ended
December 31,
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2004 2003
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Revenue $ 3,646 $ 3,491
Total Costs and Expense $ 3,348 $ 3,176
Operating Income $ 298 $ 315
Net Income $ 316 $ 369
Earning Per Common
Share - Diluted $ 0.01 $ 0.01
Weighted Average Shares
Outstanding - Diluted 59,419 59,474
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