MONTREAL, March 26, 2008 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Pink Sheets:ABSY), developer of the item-level intelliTRACKER(tm) Inventory Tracking solution, announced today that it will end the quarter with a 300% increase in revenue over the previous quarter attesting to continued traction as the business progresses into its commercial phase. The Company successfully delivered a large portion of the order backlog from its previous quarter. Delivery and installations are progressing flawlessly as the Company ramps up sales.
The Company also reported that, buoyed by strong on-site performance with early adopters, the sales funnel is replete with substantial business opportunities for the coming two-year planning period. Overall, market response to the intelliTRACKER(tm) Product Suite among leading retailers remains very promising in light of the very attractive return on investment and substantial efficiency gains produced by the system. Additional contracts are expected to be announced over the short term.
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Pink Sheets:ABSY) specializes in the design, development and implementation of new-generation Radio Frequency IDentification (RFID) based technology solutions that provide real-time item-level inventory tracking for retail customers. Based in Montreal, Canada, the company's business model combines strategic, creative and technical skills to deliver solutions that help its clients achieve their business objectives through the use of AbsoluteSKY's breakthrough technology and extensive knowledge of their business operations. For more information visit: www.absolutesky.ca.
AbsoluteSKY's Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements". Forward looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.