QuesTec, Inc. to Report 2001 Fiscal Year End Results

Company expects to report profitable 1st Quarter in Fiscal 2002

Deer Park, NY, Thursday, October 4, 2001 – QuesTec, Inc. (OTC BB: QSTI), a digital media content provider of real-time measurement, virtual replays and interactive content for entertainment and mainstream professional sports, announces that it will report revenues for their fiscal year ended June 30, 2001 of approximately $696 thousand, compared with revenues of approximately $297 thousand for their fiscal year ended June 30, 2000, an increase in revenue of approximately 135%.  

The Company had a net loss for the twelve-month period ended June 30, 2001 of approximately $959 thousand, or $0.03 per share.  In the corresponding twelve-month period ended June 30, 2000 , the company reported a net loss of approximately $1.35 million, or $0.04 per share which represents a decrease in net operating loss of almost 30%.    

Due to the unforeseen extension of Major League Baseball’s regular season, QuesTec management has revised their revenue projections for their first quarter, September 30, 2001 . Management had reported earlier that they expected revenues for the three-month period ended September 30, 2001 to meet or exceed revenues reported for the entire fiscal year ended June 30, 2001 . As a direct result of the postponement of games by Major League Baseball and broadcast schedule changes by FOX Sports Net, the Company will report revenues of approximately $565 thousand for the three-month period ended September 30, 2001, compared with revenues of approximately $256 thousand for the corresponding three-month period ended September 30, 2000.  All revenue not posted due to rescheduled games will appear in the Company’s six month period ended December 31, 2001 .  The Company expects to post its first profitable quarter for the three-month period ended September 30, 2001 .   

The increases in reported revenues are attributed to advertising sales generated by the Company’s PitchTrax™ virtual replay technology which is provided exclusively to FOX Sports Net, and the Company’s recently announced 5-year contract with Major League Baseball to develop, install and operate the Company’s Umpire Information System™.  Revenues for QuesTec are expected to exceed $1.1 million for the calendar year ending December 31, 2001 .  

"Our continued efforts, established relationships and long term contracts clearly validate the marketability of QuesTec’s technology,” stated Steven B. Greenfield, Chairman of the Board for QuesTec.  “The dramatic increases in Company revenues are a direct result of the years of effort and investment by QuesTec to build and expand the infrastructure needed to deploy QuesTec’s technology for professional baseball.  To date, we have established a presence in 23 of 30 Major League Stadiums and have operated our systems in 26 of the existing 30 ballparks. QuesTec’s joint development efforts with its partner, Titan Systems Corporation - Aerospace Electronics Division have dramatically increased the accuracy, reliability and portability of our technology.”  

Mr. Greenfield further stated that “Questec has increased revenues while reducing company debt and improving operating efficiency.  QuesTec is now positioned to capitalize on its expanding infrastructure, validated marketability and established business policies.  By maintaining our proven business principles with an ever-growing number of applications and opportunities, management expects to sustain its financial growth.  As a company, QuesTec has managed to define and execute on previously announced goals and objectives.  Management firmly believes that this is an opportune time for QuesTec both domestically and internationally, and we will continue to explore every avenue to achieve success and profitability."  


QuesTec’s products use a series of cameras, computers and proprietary software technology to track moving objects (such as balls or players) and instantly construct 3D animations. These animations can be replayed in real-time, viewed from any angle, instantly sent around the world via our eReplays™ technology, compared and analyzed. QuesTec’s unique digital video content has been broadcast and used for analysis during coverage of such high-profile sporting events as the World Series, the Major League Baseball All-Star Game, the French Open, the ATP World Championships and World Cup Golf. The Company’s PitchTrax™ product is currently licensed exclusively to the FOX Channels Group as "in-game enhancement" during live television broadcasts of Major League Baseball games. PitchTrax™ appears as a sponsored feature during FOX Sports Net productions.   

QuesTec, a fully reporting public company, is a content-oriented company that provides real-time measurement, replay and analysis products for sports, entertainment and digital media. The Company develops real-time virtual replays and eSports™ technology for mainstream professional sports. QuesTec's technology offers unique content to the convergence of today's emerging digital media. 

Press releases and other QuesTec information are available on the QuesTec web site  

For more information on eReplays™, please visit:  

For more information about QuesTec, Inc. contact Ron Klimkowski at (631) 243-1880 or email


Safe Harbor '' Statement under the Private Securities Litigation Reform Act of 1995. The statements contained in this release which are not historical facts, including our outlook on the future performance of our core businesses and our growth strategies, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial markets; dependence on existing markets and other risks described in the Company's Securities and Exchange Commission filings.


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