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Universal Express Announces First Quarter 2006 Improvements
Universal Express Inc. (OTCBB: USXP), announced today that its financial results for its first fiscal quarter ending September 30, 2006, have substantially improved over its September 30, 2005 first quarter.
The overall market capitalization of the Company increased to $60,075,056 for the 2006 first quarter from $4,182,310 for the 2005 first quarter.
Total stockholders' equity increased to $4,985,188 for the 2006 quarter from $695,464 for the 2005 quarter, an increase of $4,299,724 or over 700%.
The Company's working capital equity for the 2006 quarter improved substantially to a positive $117,301 compared with a working capital deficiency of $2,343,509 in the 2005 quarter.
Total assets increased to $7,598,046 for the 2006 quarter from $3,302,121 for the 2005 quarter, an increase of over 230%.
"Operationally, our developing subsidiaries still generate some paper losses due to fundings, marketing, branding and short selling pressures on those funding needs. Most paper losses do not indicate an actual operating loss. In fact, profitability has begun turning the corner months ago and future reports should crystallize the complete picture of our continued growth," said Richard Altomare, Chairman and CEO of Universal Express.
Revenues from the Company's logistics and international shipping businesses increased over 200% for the 2006 quarter compared with the 2005 quarter.
"We are pleased with the development and growth of all of our businesses. Revenues from our logistics and international shipping business have more than doubled for the first quarter compared to the 2005 first quarter, as they have in the previous five years, and we anticipate an exponential increase this year and in future years," concluded Mr. Richard Altomare.
About Universal Express
Universal Express, Inc. is a 22 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit
www.usxp.com.
Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Universal Express, Inc.
Mark Falk, 561-367-6177
publicrelations@usxp.com
Source: Business Wire (November 13, 2006 - 3:27 PM EST)
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