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Universal Travel Group Reaffirms
Revenue and Earnings Guidance for 2008
June 08, 2008
Universal Travel Group Inc. (OTCBB: UTVG) ("Universal Travel Group"
or the "Company"), a fast growing travel services provider in China
specializing in online and customer representative services to the
travel service industry offering packaged tours, air ticketing,
hotel reservation and air cargo transportation, reaffirmed its 2008
full year revenue and earnings guidance.
The Company has carefully assessed the impact of the devastating
earthquake in Sichuan Province on May 12, 2008 on its business and
continues to expect Revenue between US$69 million and US$73million
and Net Income between US$12 million and US14 million for the year
2008, not including stock based compensation.
About Universal Travel Group
Universal Travel Group, a fast growing travel services provider in
China, is engaged in providing reservation, booking, and domestic
and international travel and tourism services throughout China via
the internet and through customer representatives. Under the theme
"Wings towards a more colorful life" the company's core services
include tour packaging for customers, booking services for air
tickets and hotels as well as air cargo transportation. In 2007,
Universal Travel Group completed the acquisitions of Speedy Dragon,
specializing in air cargo transportation; Xi'an Golden Net,
specializing in travel packaged tours; Shanghai LanBao, specializing
in hotel reservation and Foshan Overseas International, a
China-based company that handles domestic and international travel
inquiries as well as corporate travel, offering specialized packages
that include national and international air ticket booking, hotel
reservations, conference center reservations and rental cars.
Universal Travel's goal is to become China's leading travel services
provider in all fields of the tourism industry including the
aviation, cargo, hotel booking and tour packaging segments. For more
information, visit http://us.cnutg.com.
Forward Looking Information
Universal Travel Group ("we" or the "Company") desires to take
advantage of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. This report contains a number of
forward-looking statements that reflect management's current views
and expectations with respect to our business, strategies, future
results and events and financial performance. All statements made in
this annual report other than statements of historical fact,
including statements that address operating performance, events or
developments that management expects or anticipates will or may
occur in the future, including statements related to future cash
flows, revenues, profitability, adequacy of funds from operations,
statements expressing general optimism about future operating
results and non-historical information, are forward-looking
statements. In particular, the words "believe," "expect," "intend,"
" anticipate," "estimate," "may," "will," variations of such words
and similar expressions identify forward-looking statements, but are
not the exclusive means of identifying such statements and their
absence does not mean that a statement is not forward-looking. These
forward-looking statements are subject to certain risks and
uncertainties, including those discussed below.
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