Richmond, British Columbia, Canada, December 15, 2005 -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) reported today its financial results for its first quarter ended October 31, 2005. SmarTire’s consolidated financial statements and all financial information contained in this release are stated in U.S. dollars and are prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). SmarTire reported an increase in revenue for the first quarter of fiscal year 2006 to $592,866 from $301,169 in FQ1 ’05. Total sales to the original equipment manufacturer (OEM) market for the quarter were $442,882, an increase of approximately $270,398 or 157% from the same quarter of FY ’05. Net loss for the quarter totaled $18.2 million ($0.06 per share), compared with a net loss of $2.4 million ($0.02 per share) in FQ1 ’05. The substantial increase in the loss in FQ1 ’06 was mainly due to non-cash interest and finance charges of $16,696,167 of which approximately $16.1 million related to expenses incurred in connection with SmarTire’s $160 million equity line of credit. The charge was taken as there will likely be a delay in SmarTire’s registration of its equity line of credit. The FQ1 ‘06 loss was partially offset by a stock-based compensation recovery of $1,633,975. Cash used to fund operating activities in FQ1 ’06 was $3.1 million, compared to $2.0 million in FQ1 ’05. The increase in cash used was mainly due to a $900,000 interest payment on SmarTire’s convertible debentures. SmarTire Chief Financial Officer Jeff Finkelstein said, “As President and CEO Al Kozak stated in our November 9, 2005 announcement, we are beginning to see results from our shift in focus toward value-added systems for the OEM market. We are encouraged by these results. Although they are well below where we expect to be in the coming quarters and years, it is clear we are moving in the right direction.”
-------------------- Veni Vidi Vici Posts: 529 | From: CA | Registered: Jan 2005
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SmarTire to Supply Prevost With Tire Pressure and Temperature Monitoring System for Buses PR NEWSWIRE RICHMOND, British Columbia, Jan. 25 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today that Prevost has selected the company to supply tire pressure monitoring systems (TPMS) that also monitor tire temperature on its buses. The TPMS will come standard on Prevost's H-series bus.
Dave Warkentin, vice president of sales and marketing of SmarTire, said, "We are pleased that Prevost has selected SmarTire as a supplier. With more than 10,000 vehicles on the road today, Prevost is recognized as one of the leaders in its industry. The company is owned by Volvo Bus Corporation, the world's second-largest bus manufacturer. We have already begun shipping TPMS to Prevost, and soon most Prevost H-series buses will be equipped with our TPMS. At SmarTire, vehicle safety is paramount, and this order demonstrates that Prevost also shares our values."
Prevost is a leading North American manufacturer of premium touring coaches and bus shells for high-end motorhomes and specialty conversions. For 80 years, the company's mission has been to reach new heights in customer satisfaction through ongoing innovation, quality products, unmatched after- sales service and an unrelenting focus on customer needs.
In 1998, Prevost expanded its product line with the acquisition of Nova Bus, a leading public transit vehicle manufacturer. Its expertise and leading- edge manufacturing processes are behind the most innovative public transit solution on the road today -- the Nova LFS.
Owned by Volvo Bus Corporation, Prevost has access to the financial strength, product development capabilities and quality manufacturing technology of the world's second-largest motorcoach and transit bus manufacturing group.
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Updated:2006-02-01 13:49:16 Pierce Selects SmarTire to Supply TPMS PR NEWSWIRE RICHMOND, British Columbia, Feb. 1 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today that Pierce Manufacturing Inc., an Oshkosh Truck Corporation company, will include the SmarTire active tire pressure monitoring system as an option for new and existing firefighting vehicles. Pierce Manufacturing is North America's leading manufacturer of fire and safety apparatus.
The SmarTire active tire pressure and temperature monitoring system improves vehicle safety and performance by providing drivers real-time tire information while their vehicles are in motion. At a push of a button, the SmarTire system displays each tire's pressure, temperature and pressure deviation. If the system detects a loss of air pressure or abnormally high tire temperature, a bright warning light automatically alerts the driver to the condition.
Dave Warkentin, vice president of sales and marketing of SmarTire, said, "The SmarTire system is a natural fit for Pierce. Pierce vehicles are the industry standard for performance, quality and reliability. We are excited to work with the company to offer tire pressure monitoring to the fire fighting community."
Tom DeCoster, director of new product development and product management of Pierce Manufacturing Inc., said, "Pierce has always led the industry in innovative products for fire and rescue vehicles. The SmarTire system is a solid addition to our new tire protection system, which improves tire performance and reliability and improves on-the-road safety."
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Updated:2006-02-13 10:19:51 Dana to Feature SmartWave(TM) TPMS Solutions at Truck Technology Conference PR NEWSWIRE RICHMOND, British Columbia, Feb. 13 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today that its SmartWave(TM) tire pressure monitoring system (TPMS) products will be on display at the Technology and Maintenance Council (TMC) "Celebrating Excellence in Truck Technology" 2006 Annual Meeting and Transportation Technology Exhibition Feb. 14-17 at the Tampa Convention Center. Dana Corporation will feature the SmartWave TPMS products at its Roadranger booth.
TMC's 50th anniversary Transportation Technology Exhibition, the premier trucking equipment exhibit, will feature more than 250 exhibitors spanning nearly 200,000 feet of exhibit space.
The SmartWave TPMS products continuously monitor tire temperature and pressure to provide pre-emptive alerts prior to any critical failures. The system offers customers real-time, tire-pressure and temperature readings via a vehicle display gauge located on the in-cab console. By continuously assessing the operating conditions of the tires, the system enables accurate maintenance and notifies the operator when some form of corrective or preventative action is needed. This value-added technology will help ensure that tires are properly inflated in accordance with the manufacturers' recommended settings, and it may help prevent costly and potentially dangerous failures. In addition, maintaining tires in this fashion can result in significant savings in fuel efficiency and tire costs.
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I've been in this one almost a year now. Got in at .025 I think they are restructuring right now but my feelings are this is a great long term hold. In another year or 2 I think the need for the air pressure equipment will be in higher demand.
-------------------- If you made money, it was a good trade Posts: 453 | From: Cleveland, Ohio | Registered: Apr 2005
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SmarTire Announces Major RV Purchase Order Monday February 27, 9:58 am ET Camping World places Initial Stocking Order for Tire Pressure Monitoring Systems
RICHMOND, British Columbia, Feb. 27 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR - News) announced today that Camping World, a major U.S. supplier of aftermarket RV products has placed a substantial purchase order for SmarTire's recreational vehicle (RV) tire pressure monitoring systems (TPMS). Camping World is the world's largest supplier of RV accessories and camping equipment and currently has 46 retail outlets in key regional locations throughout the United States.
ADVERTISEMENT Connie Rich, buyer for Camping World, said, "We are excited to offer SmarTire RV TPMS to our customers. We have been successful selling new technology products and we anticipate strong sales of the SmarTire RV product. SmarTire's TPMS will be available for our RV customers by mid-March. The product will be introduced on April 1, 2006 and will be featured in our May master catalogue, the RV View, marking our official product launch. The product will provide our customers with a safety option that could help prevent costly and potentially dangerous failures and expensive roadside service calls, as well as provide significant savings in fuel efficiency and tire costs."
Dave Warkentin, vice president of sales and marketing of SmarTire, said, "We are extremely pleased to have added a strong retail partner of this caliber. Camping World's national reach will make it easier for RV owners across the United States to not only purchase the SmarTire RV product but also to have it professionally installed in their vehicles."
Posts: 176 | From: Anderson, SC | Registered: Apr 2005
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Teenager crusades for proper tire pressure Florida girl aims to save the planet by saving you gas • Teen crusades for proper tire pressure March 3: A Florida teenager is showing adults in her community a simple and inexpensive way to save money, gasoline and the environment. NBC's Bob Faw reports.
By Bob Faw Correspondent NBC News Updated: 7:20 p.m. ET March 3, 2006
ODESSA, Fla. - When you're 13, like Savannah Walters, and the world is your oyster, you can do more than try to become an Olympic equestrian — you can also try to change the world.
"The future is what I'm worried about," says Walters, "the future of all wildlife, all people and our planet."
Walters was shocked to learn how careless American motorists are: Of 300 million tires produced here annually, the Rubber Manufacturers Association says an estimated 85 percent are driven with too little air.
"We waste 4 million gallons of gas a day, every day," says the Alaska Wilderness League’s Lenny Kohm, "just because our tires are underinflated."
So, five years ago, Savannah Walters launched a campaign. Now, with friends in her Florida neighborhood, she goes car to car — not just measuring tire pressures, but dispensing advice to drivers.
Walters does more than patrol the neighborhood. She also maintains a Web site, which has prompted "pump ’em up" campaigns in at least 10 other states. She's also lobbied in the halls of Congress — recently, on the Capitol steps, telling a cheering crowd at a rally, "The least we can do is, pump ’em up!"
All this has earned praise from her fellow 7th-graders, like 12-year-old classmate Kirsten Dewey, who says, "It's inspired me, because I realize every person can make a difference."
And, says Dan Zielinski of the Rubber Manufacturers Association, it’s a difference that can benefit drivers of all ages.
"Properly inflated tires, according to the federal government, can save you up to 3 percent on your fuel bill each month," says Zielinski.
That, says Walters, is good for the pocketbook and good for America.
"I have a tool that costs about 99 cents that will save us a million gallons of gas a day, starting today," Walters says. "[It's] a tire gauge!"
She is, indeed, gauging the difference — and making one.
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Updated:2006-04-05 10:08:55 SmarTire to Supply TPMS to Medtec PR NEWSWIRE RICHMOND, British Columbia, April 5 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today that Medtec Ambulance Corporation, an Oshkosh Truck Corporation company, will include the SmarTire active tire pressure monitoring system as an option for new and existing ambulance vehicles. Medtec is a leading North American manufacturer of custom ambulances with a worldwide reputation for reliability, durability and performance.
Medtec is the second Oshkosh Truck Corporation company to offer SmarTire products. The first was Pierce Manufacturing Inc., North America's leading manufacturer of fire and safety apparatus.
The SmarTire active tire pressure and temperature monitoring system improves vehicle safety and performance by providing drivers real-time tire information while their vehicles are in motion. At a push of a button, the SmarTire system displays each tire's temperature and pressure deviation. If the system detects a loss of air pressure or abnormally high tire temperature, a bright warning light automatically alerts the driver to the condition.
Dave Warkentin, vice president of sales and marketing of SmarTire, said, "The SmarTire system will make emergency vehicles safer for both the patient being transported and the crew while improving operating efficiencies through improved tire performance. We welcome the opportunity to introduce tire pressure monitoring to the ambulance sector."
About Medtec Ambulance Corporation
Medtec Ambulance Corporation, a subsidiary of Oshkosh Truck Corporation (NYSE: OSK), is a leading North American manufacturer of custom ambulance vehicles. Medtec offers a full product line of Type I, II, III and Additional Duty ambulances custom-built to customer specifications and backed by a strong network of dealers. To learn more about Medtec, visit http://www.medtecambulance.comPosts: 529 | From: CA | Registered: Jan 2005
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Updated:2006-04-19 09:44:44 SmarTire Appoints New President and CEO PR NEWSWIRE RICHMOND, British Columbia, April 19 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today that Leif E. Pedersen, a senior sales and marketing executive with extensive global experience in electronic systems, has been appointed the new president and CEO of SmarTire, effective immediately. Pedersen replaces Al Kozak who has left the company to pursue other interests.
In making the announcement, SmarTire's Chairman, Robert Rudman said, "Leif Pedersen brings to our company an ideal combination of management skills, technical expertise and worldwide marketing experience. He will provide the leadership required to move SmarTire to its next major stage of development by enabling the company to accomplish its vision for mobile wireless sensing platforms. The board of directors is committed to SmarTire's vision and is confident that Leif will accelerate our corporate growth by exploiting its competitive advantages in the international tire monitoring marketplace and by leveraging this strong position in the pursuit of an expanded product offering. Finally, the board appreciates of the efforts and contributions of Al Kozak, who served SmarTire as the chief operations officer and as the president and CEO. We wish him well in his future endeavors."
Pedersen, a Norwegian citizen, was formerly the managing director of Consilium GmbH in Hamburg, Germany, responsible for marketing, sales, support and service for a complete line of technical products for the maritime industry including radar, speed logs and various monitoring and detection systems. He was previously program director for SensoNor ASA, a company specializing in the development and production of micro sensors, particularly for the automotive applications. SensoNor is one of the largest sensor suppliers within its niche in the automotive industry.
Pedersen's experience also includes a variety of sales and marketing and executive positions with Norcontrol AS, The Marine Group, Inc. and Kongsberg Norcontrol AS. He holds a master's degree in electronics from the Technical University in Trondheim, Norway, and has a degree in business administration from the Bedriftsokonomisk Institutt in Norway. He also earned an export candidate certificate from the Norwegian Export School. He has studied cybernetics, electronics, sales and marketing and leadership training. Fluent in English, Norwegian and German, Pedersen is a director of Consilium Sevoteknikk AS in Oslo, Norway.
About SmarTire Systems Inc.
SmarTire develops and markets proprietary advanced wireless sensing and control systems worldwide under the SmartWave(TM) trademark. The company has developed numerous patent-protected wireless technologies and advanced tire monitoring solutions since it was founded in 1987. The company's proprietary SmartWave platform provides a foundation for the addition of multiple wireless sensing and control applications. The initial product release on the SmartWave platform is SmartWave(TM) TPMS, which leverages on the company's background and knowledge in tire monitoring solutions. SmarTire has offices in North America and Europe
Posts: 529 | From: CA | Registered: Jan 2005
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Updated:2006-05-03 12:31:38 SmarTire's New President Reports Preliminary Third Quarter Sales Growth Up 262% to $1.2M PR NEWSWIRE RICHMOND, British Columbia, May 3 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today preliminary sales results for the third fiscal quarter ended April 30, 2006. The company reports that FQ3 sales of approximately $1.2 million represents a gain of 262% over last year's third quarter and a 42% gain over the second fiscal quarter of this year. Preliminary results are unaudited and subject to review.
Leif Pedersen stated, "As the new president and CEO of SmarTire, I am extremely encouraged by these sales results for the third fiscal quarter. They clearly demonstrate that our company is continuing to achieve solid top-line performance on both an annual and sequential basis. In addition, with the increased acceptance of tire pressure monitoring in the global marketplace as a result of the Tread Act and higher oil prices, I am confident that SmarTire can significantly accelerate this sales growth. The company is experiencing a dramatic increase in the number of major market opportunities, and I am committed to exploiting these opportunities in North America and Europe.
"I am particularly encouraged by our experience to date in the commercial vehicle sector, which represents an enormous opportunity involving heavy and medium-duty trucks, buses, recreational vehicles, and off-road construction and agricultural equipment. Our existing relationships with Dana Corporation, Vansco Electronics and Camping World are progressing very well. SmarTire has a definite competitive advantage in the commercial vehicle, bus and RV markets, and we intend to dominate these sectors.
"Another reason for my strong optimism is our long-term corporate vision. SmartWave(TM), our technological platform, enables SmarTire to add multiple onboard wireless sensor applications to vehicles. Building on our proven tire monitoring expertise and technologies, the SmartWave product offering is being designed to satisfy the increasing demands of the transportation industry for wireless remote vehicle diagnostics and fleet management. As an example, our universal receiver is well positioned to become the industry standard for the collection of data from a number of wireless gateway applications. This data can then be distributed via telematics to vehicle management systems.
"SmarTire's board of directors has provided me with the opportunity to lead the company through its next major stage of development and I am most anxious to build a successful business for our shareholders. We have an outstanding management team with the specialized skills and motivation to meet the challenges of today and tomorrow."
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SmarTire develops and markets advanced tire pressure monitoring technology systems (TPMS) for the global automotive and transportation industries. SmarTire’s TPMS systems meet the demand for improved vehicle safety, performance, reliability and fuel efficiency.
Since 1987, SmarTire has pioneered the research and development of tire monitoring technology. With offices in North America and Europe, the Company is well positioned to be a global supplier of tire monitoring solutions for the light vehicle (passenger cars, sport utility vehicles, minivans and light trucks), motorcycle, and the commercial, industrial and recreational vehicle markets.
The U.S. Government, through the TREAD Act, has legislated that all new vehicles must be equipped with tire monitoring systems, beginning with a phased implementation in 2003. This Act and subsequent regulation written by the National Highway Traffic Safety Administration has created a multi-billion dollar opportunity in the tire monitoring industry.
While initially focused at light vehicle market, it is anticipated that the TREAD Act will be expanded to include motorcycles, commercial, industrial and recreational vehicles. The European and Asian markets are also watching this legislation and are expected to implement their own regulations regarding tire monitoring.
SmarTire is capitalizing on emerging OEM and aftermarket opportunities in the tire monitoring industry and positioning itself as a leading supplier of TPMS solutions for a number of important markets
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This is a global co that is only going up. With the recent sales increase, their marketing and management are on the reight track.
SmarTire customers extend across the range of premier automobile manufacturers, aftermarket accessory providers, and specific vertical market technology companies. Because of the industry’s strict non-disclosure requirements, please contact SmarTire directly for a current list of our OEM customers.
CURRENT PARTNERS
SmarTire has embraced the philosophy of joining with strategic partners who provide synergistic value, flexibility, economic and speed-to-market qualities. With strategic relationships, SmarTire has been able to bring together global specializations, increased capability and leveraged strengths to enhance its product and corporate development.
Hyundai Autonet Company, Ltd. (HACO) of Korea - an agreement to co-develop, manufacture and distribute tire monitoring products to Korean original equipment vehicle manufacturers and the automotive aftermarket.
Pirelli Pneumatici SpA of Italy — a supply agreement for tire monitoring systems that measure pressure and temperature of car, truck and motorcycle tires. Produced by SmarTire and tested and certified by Pirelli, the products will be sold under the name X-Pressure™.
Transense Technologies plc of England — a licensing agreement to develop and market Surface Acoustic Wave (SAW) technology for use in future tire monitoring systems.
SensoNor ASA of Norway — a supply agreement for an Application Specific Integrated Sensor (ASIS) used in tire monitoring applications.
Alligator Ventilfabrik GmbH of Germany — a development agreement for valve stem designs and tire monitoring electronic packaging.
-------------------- Veni Vidi Vici Posts: 529 | From: CA | Registered: Jan 2005
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Good News!! Hope it results in increased $$$
Updated:2006-06-12 10:52:55 SmarTire Products to be Offered on Van Hool Buses PR NEWSWIRE RICHMOND, British Columbia, June 12 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. (OTC Bulletin Board: SMTR) announced today that Van Hool NV has selected SmarTire to supply its tire pressure and temperature monitoring systems (TPMS) on its buses and coaches.
Van Hool is Europe's largest independent bus manufacturer. Van Hool products are in service worldwide. The company exports 85% of its buses and coaches, 60% of them to Europe and an average of 600 coaches a year to the United States.
Jan Ruyts, Automotive Relations Manager of Van Hool, said, "SmarTire is on the leading edge of sensing devices with its tire pressure monitoring system. We value safety in our vehicles and this agreement with SmarTire validates our reputation for dependable, quality buses and coaches."
Nigel Hammond, Managing Director of SmarTire Europe, said, "Renowned and quality conscious Van Hool is the first large bus and coach manufacturer to partner with us in Europe. This marketing milestone certainly confirms an increasing acceptance of our products in this sector as evidenced by SmarTire's strong recent penetration of the North America bus market. Our next goal is to supply our products to all vehicles manufactured by Van Hool."
The SmartWave(TM) TPMS improves vehicle safety and performance by providing drivers real-time tire information while their vehicles are in motion. At a push of a button, the SmarTire system displays each tire's temperature and pressure deviation. If the system detects a loss of air pressure or abnormally high tire temperature, a bright warning light automatically alerts the driver to the condition.
About Van Hool
In 1947, Bernard Van Hool founded the present Van Hool N.V. company in Koningshooikt, Belgium, located near the city of Lier. This family business now holds a strong position on the Belgian and several other markets. Thousands of vehicles are produced annually. A high degree of standardization in the product range, a well-considered industrial flexibility and the craftsmanship of its employees are the cornerstones of Van Hool's success.
Van Hool NV is Europe's largest independent manufacturer of buses and coaches and an important player as a manufacturer of trailers, road tankers, tank containers and others, with more than 50,000 buses and coaches and more than 75,000 commercial trailers manufactured since the company's start in 1947. Today Van Hool NV produces 1,700 buses and coaches and 4,000 commercial vehicles per year. For more information, visit http://www.vanhool.be/.
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