USTelematics, Inc. (UTLM.OB) Announces Revenues and Earnings Growth for Q4 2007
This afternoon, USTelematics reported its operating results for the quarter ended November 30, 2007. The results include the revenues generated in addition to $6.3 million in earnings for the fiscal quarter, which resulted from positive derivative instrument accounting. The CEO of USTelematics, Howard Leventhal, commented on the results, “We are continuing to experience the non-operating, non-cash effects of the accounting rules applying to the derivative financial instruments underlying our capital structure. We work every day with our accountants, legal counsel and financial advisors to simplify the Company's capital structure while shifting from a development stage entity to an operating company.…