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NavStar Technologies, Inc.: NavStar Announces Key Goals and Strategies for End of Year 2009

^{Published on 2009-09-01 06:22:31 - Market Wire}
 

ANAHEIM, CA--(Marketwire - September 1, 2009) - NavStar Technologies, Inc. (PINKSHEETS: [ NVSR ]), a firm focused on developing and commercializing multinational asset tracking and monitoring devices for vehicles and high value cargo, today announced the following four goals and strategies for end of year 2009.

N. Douglas Pritt, Chairman and CEO, confirmed that the company will sharpen its focus on four key goals/strategies throughout the remainder of 2009.

1) Position NavStar to strengthen their financial structure to enable it to move more quickly and efficiently. Complete the closing of interim working capital which will provide the funding that is needed to execute the company's business plan.

2) Complete one or more strategic alliances in 2009 that will allow the company to vertically integrate several key development activities to accelerate product delivery and to achieve significant cost efficiencies. Negotiations are underway with various companies and additional information will be provided in the near future.

3) Strengthen the product sales pipeline that has been developed throughout 2009.

 See summary below: Sales Pipeline Customer Country Potential Timeframe Status ----------- ------- --------- --------- ------------------------- Fixed Group Ecuador $ 3.0M Sept 2009 Agreement in place/Secure PO GF&T Mexico $ 30.0M Fall 2009 Agreement in place/Secure PO NavMex Mexico $ 1.0M Now Agreement in place/Secure PO Diamante Mexico $ 1.0M Now Agreement in place/Secure PO Anything United $ 30.0M Fall 2009 Agreement in place/Secure Trucking States PO Haeng Bo Cha Japan $ 30.0M 2010/2011 Complete Joint Venture Lee & Korea $ 15.0M 2010/2011 Complete Joint Venture Associates Revenue timeframes are included in the projections in number 4. 4) Continue to focus on near term revenue from Ecuador and Mexico while adding more and more focus on revenue for 2010 and beyond. Consistent with previous announcements the company is reaffirming its 5 year projects as indicated below: 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 

"As you can see, we are working on a variety of fronts and feel like a significant amount of progress has been made, we are committed to these end of year goals and will keep you apprised of our progress over the next four months," said N. Douglas Pritt, Chairman & CEO, NavStar Technologies, Inc.

FORWARD-LOOKING STATEMENT

This press release contains forward-looking statements within the meaning of US 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 ([ www.navstarinc.com ]) 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.