To: R. Jaynes who wrote (10258 ) 9/10/1998 9:12:00 AM From: Wesley0428 Read Replies (1) | Respond to of 26039
Not sure I saw this posted. Digital Descriptor Systems, Inc. Announces First Delivery of Compu-Scan LANGHORNE, Pa., Sept. 9 /PRNewswire/ -- Digital Descriptor Systems, Inc. (OTC Bulletin Board: DDSI), today announced that the first delivery of its Compu-Scan Touchless Fingerprint Capture Device will be by September 10th. One device will be used in conjunction with the FBI certification process, which is expected to take between 30 to 90 days. The second device will be used for evaluation purposes with organizations that have expressed interest in multi-unit orders. The final device will be used to introduce this revolutionary fingerprint capture system to the security industry and the investing public at the 4th Annual Westergaard/Mallon MicroCap Security 2001 Conference to be held at the Waldorf Astoria in New York, September 16th and 17th. Thereafter, this device will be used for demonstration at numerous law enforcement conferences and seminars. Michael Pellegrino, DDSI's CFO said, "The markets for our new product are enormous! According to a research report by H.J. Meyers, it is estimated that the US law enforcement market for fingerprint identification systems is between 16,000 to 32,000 units, with only 6% current market penetration. More importantly, there is an initiative from the FBI to improve fingerprint capture quality and to be able to transmit these prints electronically by the year 2000 (NCIC 2000). Additionally, in a recent research paper by Salomon Smith Barney, the market for biometric identification systems, which is the measurement of any part of the human body (i.e. retina, finger, etc.), is estimated to be $300 million currently and is projected to grow to over $1 billion by 2001." Garrett U. Cohn, President of DDSI stated, "Our product is unique, it is the ONLY touchless fingerprint identification system on the market, and it is well positioned to penetrate these markets! It has many advantages over its competition including capturing and rendering images in excess of current technology. Our price is more competitive and our system is more compact than our competitions. It is capable of being used and networked on existing booking systems, rather than requiring additional costly equipment in order to be used in a network environment. Our patent pending design and mathematical algorithms filter out the distortions of oils and dirt, as well as the issues relating to pressure and smudging. It is touchless and requires no replacement of glass platens, is extremely user friendly and requires little training. Our device automatically recalibrates, alleviating the need for costly and regularly scheduled manual recalibrations. These are just a few of the many advantages our product has over the competition," he concluded. Mr. Pellegrino added, "As previously announced our objective of reducing operating costs has been successful and we believe we can still decrease our costs further. For example, overhead decreased $1.4 million from 1996 to 1997. Our gross profits are now 66%, up from the 49% 1996 levels and sales for fiscal year 1997 were over $2.9 million. We have installed over 750 of our Compu-Sketch Systems and over 2,500 of our Compu-Capture Mug Shot Imaging Sites in over 400 jurisdictions. We also have made installs on our SI-3000 Systems Integrated Solution Software Platform. The current order backlog on these products is in excess of $1,300,000 (as of 9/8/98). Along with our name recognition and this base of clients we are ready to introduce to the market our long awaited Compu-Scan: Touchless Fingerprint Imaging Capture Device. Substantial sales and deliveries for the Compu-Scan Device are expected to begin in early 1999." Digital Descriptor Systems, Inc., based in Langhorne, PA, is traded on the Nasdaq OTC Bulletin Board Market under the symbol DDSI and can be found on the World Wide Web at www.ddsi-cpc.com. CONTACT: INVESTOR RELATIONS AT 215-752-0963 EXTENSION #3. Except for historical matters contained herein, the matters discussed in the press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions, especially as regarding installation schedules and product mix, and involve risks and uncertainties which may affect Digital Descriptor Systems, Inc.'s business and prospects and cause actual results to differ materially from these forward-looking statements. SOURCE Digital Descriptor Systems, Inc. CO: Digital Descriptor Systems, Inc. ST: Pennsylvania IN: CPR SU: 09/09/98 13:51 EDT prnewswire.com