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Business Summary and Article: UITK
Free Level 2 Stock Quotes Business Summary: UITK
Ultitek, Ltd., through its subsidiary, Transport Automation Information Systems, provides computerized airline reservations systems software in Russia. The company's software product, ULTITEK System, consists of Computerized Reservation System, which is designed to maintain seats inventory for airlines and to assist travel agencies book seats and other travel; Global Distribution System that provides solutions for travel agencies and in-house corporate travel departments; Airline Operations System, which enables a subscriber airline to manage the airline's operations; and Departure Control System that controls passenger registration and identification, boarding passes, and seating assignments. It also offers consulting and maintenance to the reservation centers, airports, theaters, and other customers. The company was founded in 1989 and is based in Englewood Cliffs, New Jersey.

Article: More on UITK
It's so hard to find a quality company trading for pennies and with so much potential that is why you must add UITK to your watch list.

The chart on UITK looks amazing. After a huge run of over 1000% from Dec to early Feb a retracement is inevitable. Profit taking always takes place after a huge run and before another possible run up. I believe a dip in price should be viewed as an opportunity!! Do your own research, all small caps are risky.

Tourism and travel counts as one of the most remarkable economic and social phenomena of the last 50 years. As technology advances the world gets smaller and more people are traveling. In 2006 the total number of international trips exceeded 750M!!

UITK understands the importance of a computer reservation system for airlines. They have already serviced over 9M passengers and continue to expand their market share.

Without a system like this, the travel industry could come to a halt.

UITK is a CRS company that gives airlines the ability to manage their seat inventory with realtime information independent from large competitor controlled consortium, and for substantially less cost.

Airlines rely heavily on their computer information systems to make money!

UITK is in an industry where airlines are currently paying more money than they should on these systems.

UITK is offering airlines the chance to save a lot of money!

Airlines currently pay a subscription fee to be hosted by a CRS company. Each airline guarantees a certain number of bookings will be made, when a booking takes place the airlines pays a transaction fee. The transaction fee per booking leg is approximately $3 to $7 per airline passenger, depending on the volume each airline guarantees to fill.

UITK wants to license airlines its own more complete system for a lesser cost. This means that over a five-year period, an airline that would normally pay $25 M will now have the option to spend $3.5 M annually, saving airlines over 25 % per year. In addition to cost savings, airlines will have much more flexibility in operating their systems. 

UITK will do this with a different kind of technology.

Today all airline reservation systems are written in antiquated software for mainframe hardware. Maintaining this software and hardware is by necessity an expensive proposition. 

UITK's system is written in state of the are software (C++), on a Unix operating system and Sybase data base management system, operating on mini computer based servers. 

This concept allows UITK to sell turnkey systems to small and mid-size airlines at a substantial saving. The cost for these airlines to develop there own system is cost prohibitive.

According to ICAO (International Civil Aviation Organization), there are over 5000 airlines, airports and other travel operators, operating globally, most, served by four global CRS companies and a few other smaller regional CRS companies.

UITK has already established itself as the world’s second largest CRS Company; as measured by the total number of airplanes and airlines under management!

Airline travel is a giant market!

The International Air Transport Association (IATA) released passenger and freight traffic forecasts projecting that in 2011 the air transport industry will handle 2.75 billion passengers (620 million more passengers than in 2006)!

UTIK's target market is the small to medium airlines, the technology of the system is able to scale from the smallest airline to the worlds largest. 

Of the 5000 airlines operating globally 4200 are considered small airlines with ten planes or less of which about 1100 are active scheduled airlines, 700 airlines are considered medium sized airlines with twenty
planes or less, and 100 airlines are considered large airlines, with over twenty aircrafts.

The majority of reservations systems which have survived up until now were developed in the 70’s using mainframe technology, which was then the leading edge in programming and equipment solutions. Among their advantages were well-developed functionality and high reliability, while among the disadvantages were high costs, an outdated user interface, and difficulty in modifying them to correspond to new market conditions. 

In Russia and the countries of the C.I.S. (Ukraine, Byelorussia, Kyrgyzia, Uzbekistan), there are 24 air reservation centers (ARC), which use UITK's software of “Sirena-2.3”. Each ARC has its own terminal network.

The overall number of terminals connected to UITK's “Sirena-2.3” is over 6000!

UITK recently announced that Ukrainian Civil Aviation Center (UCA CC) has signed a Letter of Intent to enter into an agreement for licensing and operating a Computer Reservation System (CRS), Electronic Ticketing, Departure Control System (DCS), and other miscellaneous modules provided by UITK.

Also, as of August 10, 2007, UITK's Computer Reservation System and Distribution will be used for sales on all flights on Malév Airlines in accordance with Transportation Clearing House's decision.

Malev Hungarian Airlines is the national airline of Hungary, based in Budapest. It is the principal Hungarian airline and operates services in 34 countries worldwide. Its main base is Budapest Ferihegy International Airport. Malev is a member of the Oneworld alliance since April 2007.

For more information on UITK, visit their website:
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