ULTE Ultimate Electronics (MM)

Ultimate Electronics Signs New Contracts With Eight Leading Home Builders, Raising Total Number to 25 Seven of Top 10 Home Builders Rely on Ultimate Electronics for Equipment Sourcing and Installation THORNTON, Colo., Nov. 30 /PRNewswire-FirstCall/ -- Ultimate Electronics, Inc. (NASDAQ:ULTE), a leading specialty retailer of home entertainment and consumer electronics products in 14 states, today announced it has recently signed contracts with eight of the largest home builders in the U.S. Ultimate Electronics now supplies high-end home theater, home networking/structured wiring, security, and central vacuum equipment, as well as installation services to over 25 home builders, including all of the five largest builders, and seven of the top 10 builders. "Our partnership with Ultimate Electronics has been smooth and effective," said Nick Parks, Marketing Manager for Pulte Homes. "Ultimate has provided exceptional service and speed when we needed it most -- at the start of an important promotion. We chose Ultimate as the supplier of plasma TVs that we are giving to every customer that purchases a home during the fourth quarter. The decision to leverage Ultimate's products and services during the promotion has helped us increase traffic by 30% and increase sales 25% over the same period last year. Ultimate helped us sell more homes and better satisfy our customers. We are now looking for additional ways to utilize Ultimate in other parts of the sales and construction process to build on our current momentum." Ultimate Electronics continues to be the supplier of choice for builders throughout Colorado, as well as in Dallas / Ft. Worth, Las Vegas, Phoenix, St. Louis and Tucson. In recognition of its leading position in the home installation market, CE Pro magazine recently named Ultimate Electronics the country's #1 provider of full structured wiring. "The nation's home builders look to Ultimate Electronics for our reliability and expertise," said Gerry Demple, Senior Vice President of Services for Ultimate Electronics. "Consumers trust Ultimate to provide quality products and professional installation, and our dedicated service professionals continue to exceed our builders' expectations. We look forward to growing this area of our business by partnering with additional home builders and expanding our relationship with current clients." About Ultimate Electronics, Inc. Ultimate Electronics is a leading specialty retailer of home entertainment and consumer electronics products in 14 states. The company operates 65 stores, including 54 stores in Arizona, Idaho, Illinois, Iowa, Kansas, Minnesota, Missouri, Nevada, New Mexico, Oklahoma, South Dakota, Texas and Utah under the trade name Ultimate Electronics(R) and 11 stores in Colorado under the trade name SoundTrack(R). In addition, the company operates Fast Trak Inc., an independent electronics repair company. Ultimate Electronics has received numerous industry awards including Audio Video International's 2003 "Top 10 Audio/Video Retailer of the Year." For more information, please visit http://www.ultimateelectronics.com/. Forward-Looking Statements The statements made in this news release, other than those concerning historical financial information, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are made based upon management's current expectations and beliefs concerning future developments and their potential effects upon the company. These forward-looking statements include statements regarding the growth of the builder business. Actual results may differ materially from those included in the forward-looking statements due to a number of factors, including, but not limited to: general economic conditions; actions of competitors; relationships with vendors; inability to attract and retain qualified personnel; pricing and availability of certain commodities; downturns in the housing market; terrorism and acts of war; and other risks identified in the company's Annual Report on Form 10-K for the fiscal year ended January 31, 2004, filed with the Securities and Exchange Commission on April 16, 2004. There can be no assurance that future developments affecting the company will be those anticipated by management. The company disclaims any obligation to update or revise any of the forward-looking statements that are in this news release. Media Contact: Mac McNeer Ashton Partners 312-553-6742 DATASOURCE: Ultimate Electronics, Inc. CONTACT: Media, Mac McNeer of Ashton Partners, +1-312-553-6742, for Ultimate Electronics Web site: http://www.ultimateelectronics.com/ Company News On-Call: http://www.prnewswire.com/comp/877054.html

Copyright