latest news releases from the newsroom
OTI On Track Innovations Inc.
OTI Africa and Exel Petroleum Sign Long Term Agreement; Adding Another 100 Stations to the Fuelmaster Network -- Initial Orders Expected to Reach $500,000
ROSH PINA, Israel and CAPE TOWN, South Africa, April 8, 2002 (PRIMEZONE) -- OTI (GER:OT5), today announced that its wholly owned subsidiary, OTI Africa, has signed a five year agreement with Exel Petroleum (Pty) Ltd. to create a network of on-road sites equipped with OTI's fuel management system, branded in South Africa as FuelMaster. Exel's signature of the agreement furthermore constitutes an order for equipment required to immediately equip 40 on-road Exel sites The agreement with Exel will boost the current network of FuelMaster sites by approximately 25% and the number of Fuel Master end users by 40% over the next two years, which will result in significant increase in the on going transaction fee and revenue sharing for OTI Africa. In addition to cash payments for equipment, OTI Africa will receive a volume-based remuneration from Exel based on all petrol and diesel sold through the use of the FuelMaster System at on-road and home base sites.
Integra LifeSciences Holdings Corp.
Integra LifeSciences Reports Preliminary First Quarter 2002 Revenues; Forward-Looking Earnings Guidance Unchanged
PLAINSBORO, N.J., April 5, 2002 (PRIMEZONE) -- Integra LifeSciences Holdings Corporation (Nasdaq:IART) today reported preliminary revenues for the first quarter ended March 31, 2002. The Company expects to report total revenue of approximately $25.7 million in the first quarter of 2002, an estimated increase of 19% over the first quarter of 2001. Product sales are expected to have increased to $24.1 million in the first quarter of 2002, an estimated 19% increase over the first quarter of 2001. This anticipated increase in product sales is consistent with the Company's previously announced product sales growth objectives of approximately 18% to 20% per annum through 2003, but are below the expectations of Wall Street analysts who cover the Company.