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NavStar Technologies, Inc.: Vehicle/Asset Tracking Forecast to Grow From $3.0B to $5.0B by 2011

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  Published in House and Home on Wednesday, July 22nd 2009 at 6:17 GMT, Last Modified on 2009-07-22 06:18:06 by Market Wire
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ANAHEIM, CA--(Marketwire - July 22, 2009) - NavStar Technologies, Inc. (PINKSHEETS: [ NVSR ]), a multinational firm focused on developing and commercializing asset tracking and monitoring devices for vehicles and high value cargo with specific geographic focus in Latin America, today has made available to shareholders and investors an independent research report on Vehicle/Asset tracking and monitoring.

According to the report, adoption of vehicle/asset tracking and monitoring is likely to be driven by factors such as:

 -- Increased recognition of tracking/monitoring benefits -- Worker productivity -- Administrative efficiency -- Reliable and affordable data communications -- Increase availability of wireless coverage 

The report says that today only 10% of the 20M fleet vehicles in the US have Vehicle/Asset tracking devices and of the 12M fleet vehicles in Brazil and Mexico only 5% have Vehicle/Asset tracking devices.

N. Douglas Pritt, Chairman and CEO, confirmed that NavStar's business model for sales into Mexico, Latin and South America contemplates a very un-ambitious penetration of one-half of one percent of fleet vehicles.

NavStar also re-affirmed guidance regarding its expected financial performance over the next 5 years. The successful achievement of these financial objectives assumes the company's procurement of up to $2.0 million of funding in the 3rd quarter of this year and the completion of the services/software company. The summary financial income statement follows:

 Year ($M) 2009 2010 2011 2012 2013 ---- ---- ---- ---- ---- Revenue 2.2 17.2 26.4 35.3 46.9 COG 1.2 9.3 15.1 20.5 27.1 Gross Profit 1.0 7.9 11.3 14.8 19.8 SG&A 1.5 3.7 5.3 6.9 8.6 EBITDA (.5) 4.2 6.0 7.9 11.3 

N. Douglas Pritt, Chairman and CEO, said, "We continue to stay focused on getting POs from our distribution partners in Ecuador and Mexico. The Joint Venture for device and service sales into Japan is moving forward and next week we will announce agreements with distribution partners in Canada and the US that could have a significant impact on the financials as stated above."

For the complete research report, go to [ www.navstarinc.com ] and click the "What's New" link.

FORWARD-LOOKING STATEMENT

This press release contains forward-looking statements within the meaning of U.S. federal securities laws, that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release.

About NavStar Technologies, Inc.

NavStar is focused on the creation of products and services that provide tracking and monitoring of vehicles and high value cargo, equipment, and other valuable and personal assets.