MONTREAL, June 7, 2007 (PRIME NEWSWIRE) -- AbsoluteSKY, Inc. (Pink Sheets:ABSY) today provided additional details on launch installations as it introduces the powerful intelliTRACKER(tm) Product Suite to key clients.
In keeping with its previously announced plans, the Company has moved ahead to successfully complete initial installations of intelliTRACKER(tm) with key early adopters -- one with Staples Business Depot, the world's largest office products company, and the other with General Dynamics, one of the world's pre-eminent defence contractors.
The Staples Business Depot installation, which AbsoluteSKY conducted in concert with its strategic partner Fujitsu Transaction Solutions, features real-time tracking of thousands of individual inventory items at the store level, ultimately negating the need to conduct regular physical inventory counts while providing accurate mission-critical information that can be used to tackle out-of-stock situations and locate inventory across several pre-defined zones in the store. The system automatically reports item-level inventory data at ranges of over 100 feet and the tags are monitored everywhere and at all times within the 37,000 sq. ft. retail location.
As recently reported in RFID Journal, Joe Soares, Staples Business Depot's director of process engineering, remarked that the system is showing strong performance. "We've been getting 100 percent reads from day one," he stated.
For the current installation, inventory items are tagged in the receiving area, from which point they are dynamically tracked as they move out to store shelves, and through to the point-of-sale (POS). The tags are removed at the POS for re-use and are later re-assigned to different inventory items.
The Company notes that the system is used to accurately track inventory items, not clients of the store. The tags are always visible to the customer and privacy is not in any way compromised. In fact, the overall aim of retailers in employing the solution is to enhance the customer experience by getting the right product, to the right place, at the right time and at the right price.
The intelliTRACKER(tm) software provides core functionality, such as: automated receiving, on-hand inventory status, tracking of returns, RFID-enabled checkout, as well the reporting of varying inventory states (e.g. saleable, on-display, sold, damaged layaway/reserved, return-to-vendor, lost, found). The system also includes a Loss Prevention module that provides alerts when inventory improperly enters or exits specific user-defined zones, or the store itself.
With respect to the General Dynamics installation, and because of the confidential nature of this security-related contract, Mr. John Frabasile, President and CEO of AbsoluteSKY, could only comment that "we know the customer is very pleased with the performance and reliability of this important installation and that we have received 'zero' service calls." Potential for growth with General Dynamics, a $24 billion company, and other such security related applications is significant.
As far as what's ahead, Mr. Frabasile added that discussions are underway on numerous fronts with other potential customers as AbsoluteSKY continues through its product introduction phase. In the meantime, the Company plans to do its utmost to support current installations and plan for larger scale roll-outs while continuing to follow through on commitments to create value for its shareholders.
About AbsoluteSKY, Inc.
AbsoluteSKY, Inc. (Pink Sheets:ABSY) specializes in the design, development and implementation of Radio Frequency IDentification (RFID) technology that provides 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.