This announcement released yesterday reads ok, anyone got an opinion on this stock:
FTR HOLDINGS LIMITED 2002-05-08 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ FTR Pty Ltd announced today continued revenue growth resulting from increased sales activity worldwide. The Company stated that increasing acceptance of its software based digital recording solutions and its new courtroom recording device, FTR ReporterDeck(TM), has led to record sales for FTR and continued dominance in the courtroom recording market.
Specific sales in North America include statewide contracts in New York and Missouri, which have already resulted in the installation of more than 100 recording systems since the first of the year. Significant installations in Illinois, Arizona, Ohio, Florida, Indiana, Oregon, Washington, California and several other US states helped add to FTR's growing list of satisfied customers.
Increased sales activity by the Company's network of more than 50 authorized resellers has accounted for the sale and installation of more than 600 recording systems with revenue of more than AUD 4 million since January 1, 2002. Performance in April has been particularly pleasing.
FTR Pty Ltd continues to trade profitably and is cashflow positive.
Outside of the United States, the Company reported sales related to the expansion of sites in Puerto Rico and Hong Kong. Both customers have been recording with FTR systems for several years and are now expanding operations to include additional FTR sites.
In Australia, FTR announced that it was the selected technology provider for the Australian Family Court under a recently awarded contract. The contract called for 90 systems to be installed and operating by the end of April. Under control of the selected transcription providers, all 90 courtrooms were installed and on-line ahead of schedule.
Steve Townsend, CEO of FTR Pty Ltd, explains that "Since we restructured the Company in June of last year, we have steadily increased system sales, monthly revenue and profits. We are all very pleased with the success of FTR over the last 10 months." Steve Townsend went on to say that he credits the Company's success to "an incredibly talented team of people, building and selling a great set of products through an effective and professional network of highly qualified resellers."
Dave Harrison, General Manager for Asia Pacific operations said "the Family Court project in Australia reinforces the view that FTR is the digital recording solution of choice for courtrooms and hearing rooms throughout this region. We believe that our success is due to the fact that we have a product which addresses the market needs and we are devoted to making sure that every one of our customers receives the highest possible level of service and support."
A big part of FTR's recent sales success is due to the demand for FTR ReporterDeck(TM). FTR announced this new product in August of 2001 and released it in December. Since then, the product has sold at a pace much higher than forecast. Steve Townsend noted that "we knew the FTR ReporterDeck(TM) would be popular, but we had no idea there was this level of demand for this simple and reliable device. We are very happy with the product's success and expect continued strong sales in the coming months."
FTR ReporterDeck(TM) is a standalone hardware "appliance" that performs 4-channel digital audio recording, archiving, playback and duplication. It requires no additional hardware or software to operate. The system is designed as a direct "plug-n-play" replacement for analog tape recorders. FTR ReporterDeck(TM) is network enabled and easily configured to operate in a standalone mode or as an accessible device on a Novell or Windows NT/2000 network. The unit is also compatible with FTR Log Notes(TM) and FTR Monitor(TM).
The FTR Gold family of products is available through FTR authorized resellers worldwide.
Founded in 1993 in Perth, Australia, with US headquarters in Phoenix, Ariz, FTR Pty Ltd is the world's leading supplier of courtroom digital audio recording systems. FTR systems are currently installed in more than 4,000 venues in over 15 countries in North America, Europe, Asia and Africa.
FTR Pty Ltd is a wholly owned subsidiary of FTR Holdings Limited (ASX:FTR).
