News

Elite subsidiary experiences growth spurt

February 19, 2002

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ATLANTA - Internet kiosk manufacturer Elite Technologies Inc. (OTCBB:ETCH) has doubled its computer presence in Puerto Rico. The company announced Dec. 14 that its wholly owned subsidiary, Icon Computer Parts, has opened a second location on the Caribbean island.

Elite purchased Icon, a wholesale marketer of computer inventory, in February. The deal was designed to give Elite access to imported computer parts and kiosks at lowered prices.

Revenue at Icon has grown by more than 40 percent since the purchase, according to an Elite news release. The new store, which is located outside the Puerto Rican capital of San Juan, is expected to generate another $2 million in revenue this year, according to Elite.