VSYS .42 x .48 - this may be the long-term reversal on the way to multi-bagger. It has had 2 runs in the past to 2.50 - 3 area.
Viscount Reports 2005 Results; Record Revenue, Company Returns to Profitability
Friday March 31, 9:00 am ET
BURNABY, BC--(MARKET WIRE)--Mar 31, 2006 -- Viscount Systems Inc. (OTC BB:VSYS.OB - News) -- today announced results from its 2005 fiscal year, ended December 31, 2005. Highlights included:
- Revenue topped the five million mark for the first time in The Company's history.
- 2005 Revenue was © $5,013,492 compared to $4,391,658 for fiscal 2004, an increase of 14.2%.
- 2005 was Viscount's third consecutive year of double digit revenue growth.
- The Company delivered a profit of $404 compared to a loss of $398,565 in fiscal 2004.
- Sales of Mesh were $1,316,031 compared to $446,874 for fiscal 2004, an increase of 294%.
"We are very pleased with our 2005 results," noted Stephen Pineau, President and CEO of Viscount. "We continued to grow and began shipping increasing numbers of pre-booked MESH systems, this despite the delay of the release of our V5 Enterprise platform for shipping until late Q1 2006. We improved our bottom line dramatically and yet increased R&D to finalize a number of additional MESH enhancements for 2006 Q1 and Q2."
"The market for physical security continues to grow and MESH is on the leading edge of the continuing convergence of security and IT. We believe our commitment to MESH is about to pay off since the scope of physical security dwarfs our traditional telephone entry systems. This can be easily evidenced by noting that shipments of MESH surpassed $1 million, mainly through early commercialization sites booked back to 2003. Based on the size of the industry, sales of $1.3 million for MESH are not even indicative of the scope of the opportunity."
About Viscount Systems
Viscount Systems Inc. is a designer and manufacturer of telecommunications and electronic door control access systems for the security industry. From 1969-1997 Viscount was an R&D affiliate of Telus, itself a controlled subsidiary of GTE, now Verizon Communications. The company's diverse line of products are designed to improve safety and manage security for property owners and users. Viscount's products have been installed in approximately 35,000 sites in over 30 countries and are sold through a 500 member, North America-wide dealer network comprised of security equipment vendors. Additional information on Viscount's products may be obtained on-line at viscount.com.
Financial statements are available from the company's registration statement filed with the U.S. Securities and Exchange Commission on February 6, 2002, which may be viewed at www.sec.gov or the company's web site www.viscount.com under the heading "Investor Relations." For further information, or to be placed on email NEWS ALERT please e-mail to ir@viscount.com or call toll free 1-866-252-9446.
Safe Harbor Statement
This press release does not constitute an offer to sell or the solicitation of any offer to buy any securities of Viscount Systems Inc., nor shall there be any sale of any such security in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
Forward-looking statements: This press release and other statements by Viscount Systems Inc. may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "position," "assume," "potential," "outlook," "continue," "remain," "maintain," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," or similar expressions.
Distributed by Filing Services Canada and retransmitted by Market Wire
Contact:
Contact:
Nick Waddell
Viscount Systems, Inc.
VP, Corporate Communications
Toll Free 1-866-252-9446
Email Contact
--------------------------------------------------------------------------------
Source: Viscount Systems Inc. |
