Vancouver, British Columbia, Canada – It’s been a very good year for the world’s leading provider of Wi-Fi GPS systems for golf facilities, resorts and residential communities. GPS Industries’ shining star is brighter then ever.
The most technologically advanced and user-friendly family of products in the golf GPS industry, along with its effective and efficient operations management tools and revenue generating modules has supported a strong renewed interest in GPS Industries, Inc. (GPSI)
Their resurgence is accentuated by second quarter financial and operating results. “We have experienced a dramatic increase in sales over the same period last year. Sales for the first half of 2008 have nearly matched total sales in 2007,” shared GPSI Vice President, Kevin Carpenter.
The rejuvenation has been buoyed by some key factors. The mid-June appointment of David Chessler as CEO and his immediate success with a refinancing plan has significantly improved the company’s liquidity and generated new sales initiatives.
“David’s experience in this industry, his success in asset based lending and his management skills identified him as the ideal choice for the company’s CEO,” said Company Director, Bart Collins.
Confidence in GPSI’s superior technology, quality personnel, customer support and established infrastructure is further evidenced by reinvestment from Greg Norman’s Great White Shark Enterprises and Dubai based Leisurecorp LLC.
“Having been involved in the GPS golf industry for 14 years, I’m very excited to join the GPSI team. I believe the company has the best products, patent portfolio and now the appropriate capital structure required to achieve its full potential. I look forward to working with the GPSI team to become the dominant player in this market,” said David Chessler.
Significant installations in July at Predator Ridge Golf Club in Vernon, BC- site of the 2008 nationally televised Telus Skins Game; Bay Harbor Golf Club, Michigan- fondly referred to as Pebble Beach of the Midwest; and Son Vida Golf course, Palma de Mallorca in the Mediterranean sun drenched Balearic Islands, Spain along with other installations in the United States and China have additionally enhanced GPS Industries’ global reach.
“Our participation in Las Vegas at the recent PGA Expo was very successful. The reception from owners, managers and golf professionals was invigorating. The acknowledgement and affirmation of our product, new team, and re-emerging company as the major player in the GPS industry was especially gratifying,” added Carpenter.
GPS Industries, Inc. (OTCB: GPSN) develops and markets GPS and Wi-Fi multimedia solutions to enable managers of golf facilities, resorts, and residential communities to improve operational efficiencies and generate new revenue streams. The Company’s Inforemer® Management Solutions product line provides integrated software applications and a high-resolution 10.4-inch cart mounted “HDX” display panel. The HDX panel vividly illustrates each hole, providing precise distance measurement information; strategic playing tips and targeted advertising messages. The patented system is seamlessly connected via a high-speed Wi-Fi network that enables the entire facility into a wireless hot spot. For more information visit www.gpsindustries.com
Kevin A. Carpenter, Vice President, GPSI
Investor Relations Contact:
Ben Porter, President and COO, GPSI