Upward, as in growing revenues and new customers. In 2004, USTI had revenues of $4.3 million, exceeding 2003 revenues by more than 18 percent and forecasted revenues by 10 percent. Net income doubled in 2004 compared with 2003.
"USTI has exceeded the financial projections developed by the management team that recommended AEP´s purchase of USTI every year since the acquisition in January 2002," said Mark Marano, senior vice president --generation business services and president of USTI.
Outward, as in expanding its base of operations. Headquartered in Gibsonia, Pa., just north of Pittsburgh, USTI recently opened its first satellite operation -- a small office and workshop in the Tulsa (Okla.) Power Station (TPS).
"Operationally, it´s obviously more convenient to service AEP plants in Oklahoma, Arkansas and Texas from Tulsa," said Mike Brown, USTI general manager. "If you look at a map of the U.S., it´s also more efficient to service our customers in Kansas, Missouri and southern Illinois, for example, out of Tulsa than Gibsonia."