LENF is up a penny to .36 -see pr today-but-read this pr carefully then get the rest of the pr's since the 3rd qtr release...this stock eventually is going much higher IMO:
LAW ENFORCEMENT ASSOCIATES REPORTS STRONG THIRD QUARTER REVENUES
Company Receives GSA Renewal and Introduces New Explosives
Detection Product During Quarter
Law Enforcement Associates Corporation (LENF.OB), a surveillance and security technology company, today reported revenues of $1.402 million for the third quarter of 2003 compared with revenues of $1.165 million for the third quarter of 2002. The company reported revenues of $3.954 million for the nine months ending September 30, 2003, compared with revenues of $4.717 million during the same period last year.
During the third quarter, the company announced a $920,000 order from the U.S. Marshals Service. Revenues for this contract were not recognized during the third quarter and will therefore be recognized in the fourth quarter and included in the company's fourth quarter report.
Law Enforcement Associates also recently announced it was awarded a five-year extension of its General Services Administration contract as an authorized provider of security products for the federal government. This contract renewal is significant because it allows federal agencies to continue to directly acquire the company's surveillance and security products without going through exhaustive competitive pricing procedures. GSA schedules are key acquisition vehicles for federal government agencies; allowing over one million federal workers to seamlessly acquire products and services through commercial suppliers.
In addition, the company recently launched its new EDK123 explosives detection kit, the first of a series of cost-effective detection and prevention products that the company will make available to law enforcement personnel as well as the general public. EDK123 is a fast, reliable field test for detection of trace nitrates that are found in over 85 percent of all explosives. The explosive detection kit provides a first line of defense in determining the presence of trace nitrate-based explosive residues such as TNT, dynamite, Sentex, RDX and ammonium nitrates. Developed in conjunction with Sirchie® Finger Print Laboratories, the world's leading manufacturer of forensic investigation equipment, EDK123 is a simple test that can be deployed without any specialized training and produces results in seconds.
"Over the last six months, we have worked to leverage our expertise within the surveillance and security industries," said Paul Feldman, president of Law Enforcement Associates. "As part of this effort, we have introduced a series of enhanced product offerings for both current customers and new customers across North America and around the world. Market feedback has been positive and we are encouraged with the progress we have made building new customer relationships during the second and third quarters of this year."
About Law Enforcement Associates Corporation:
Law Enforcement Associates Corporation (LENF.OB) is headquartered in Youngsville, N.C. with additional offices in North Carolina and Washington, D.C. The firm, whose products have been used to enhance security at major events such as the Olympics and the Super Bowl, manufactures and markets a diverse line of undercover surveillance products including a complete line of audio surveillance equipment. Law Enforcement Associates Corporation assists in the country's homeland defense efforts through its Under Vehicle Inspection System (UVIS), one of the company's leading products, with over 800 installations worldwide, including United Nations and NATO. The UVIS has recently received CE certification for European markets. The UVIS is used to view the underside of vehicles entering and exiting secure areas or facilities for explosive devices and other contraband. The company currently markets to the military, law enforcement, security and corrections personnel throughout the world, as well as governmental agencies, multinational corporations and non-governmental organizations. |
