On Wednesday, Universal Detection Technology announced that the Company’s revenues for the quarter ended September 30, 2011 were the highest quarterly revenues in more than three years. The increase is mainly due to high demand for radiation detection equipment domestically and internationally. The Company is also starting to see increased sales from their newly remodeled online store.
Universal Detection Technology’s third quarter revenues increased 6,000 percent to $113,519 from $1,821 during the third quarter of the prior year. The unfortunate nuclear disaster in Japan created a large market for equipment used for detection of harmful radiation in the ambient environment and on surfaces. Presently, the demand significantly outweighs the supply. However, in the long term the anticipation is that increased production capacity will eventually reduce the gap and bring the market to equilibrium.
Universal Detection Technology believes that this new equilibrium will be at much higher quantities than in pre-disaster times. This is because of increased worldwide awareness of the hazards of radiation and the long term effects of the disaster in Japan, in particular the effects on food safety, which will require decades to totally clear up.
Mr. Jacques Tizabi, Universal Detection Technology’s Chairman and CEO, said, “We are seeing substantial revenue growth largely due to the demand for Radiation Detection in Japan. We look forward to continuing our efforts in Japan and worldwide. Management recently returned from Tokyo where we had the opportunity to meet with customers and prospects, along with medical professionals and ordinary citizens and discuss long term planning for radiation detection. As a result, as previously announced, we are now developing a new radiation detector which will communicate results via Bluetooth to a smartphone. We are anticipating launching the new device in the second quarter of 2012.”
Headquartered in Beverly Hills, California, Universal Detection Technology is a developer of monitoring technologies, including chemical, biological, radiological, nuclear (CBRN), and mold detection devices. On their own, and with development partners, the Company is positioned to capitalize on opportunities related to Homeland Security. Listed on the OTC Bulletin Board, Universal Detection Technology is a reseller of handheld assays used for detection of five bioterrorism agents, radiation detection systems, and chemical agent detectors.
For more information visit: www.udetection.com
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