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DDSI Reports Revenue in Line with Expectations After Merger. SEA GIRT, NJ – August 25, 2005----Digital Descriptor Systems, Inc. (other otc: ddsi.pk), an industry leader that develops products for homeland security, including the supply chain and criminal justice markets, filed its 10QSB for the quarter ended June 30, 2005 this week. Commenting on the results, DDSI CEO Anthony Shupin said, “We are right on track this quarter. Due to the consummation of the CGM subsidiary in the prior quarter, our revenues have increased 1,182% from the same three month period last year.” Shupin added, “Although our losses in the same period increased by 225%, we are optimistic that our current growth plan should help us to eliminate unnecessary expenditures and improve that number. DDSI incurred additional expenses due to the acquisition (interest, accounting and legal fees), upgrading the infrastructure and adding sales personnel which are reflected in those numbers. We are optimistic that our plan to increase sales while carefully eliminating unnecessary expenditures will help us to improve that number.” Digital acquired CGM in March 2005. CGM is a leading manufacturer and distributor of Homeland Security products including indicative and barrier security seals, security tapes and related packaging security systems, protective security products for palletized cargo, physical security systems for tractors, trailers include states, cities, counties, corrections, justice, and public safety agencies. Digital Descriptor Systems, Inc. is headquartered in Sea Girt, New Jersey. Twww.ddsi-cpc.com.
Safe
Harbor Statement Under the Private Securities Litigation Act of 1995 - With the
exception of historical information, the matters discussed in this press release
are forward-looking statements that involve a number of risks and uncertainties.
The actual future results of the Company could differ significantly from those
statements. Factors that could cause actual results to differ materially include
risks and uncertainties such as the inability to finance the company’s
operations or expansion, inability to hire and retain qualified personnel,
changes in the general economic climate, including rising interest rate and
unanticipated events such as terrorist activities. In some cases, you can
identify forward-looking statements by terminology such as "may," "will,"
"should," "expect," "plan," "anticipate," "believe," "estimate," "predict,"
"potential" or "continue," the negative of such terms, or other comparable
terminology. These statements are only predictions. Although we believe that the
expectations reflected in the forward-looking statements are reasonable, such
statements should not be regarded as a representation by the Company, or any
other person, that such forward-looking statements will be achieved. We
undertake no duty to update any of the forward-looking statements, whether as a
result of new information, future events or otherwise. In light of the
foregoing, readers are cautioned not to place undue reliance on such
forward-looking statements. For further risk factors associated with our
Company, review our SEC filings. |
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