Office (904) 794-1111
Support (
866) 264 1735

CompanyLogo

Skip Navigation LinksHome : News : Press Release 8/18/2008  

PRESS RELEASE

CONTACT: Michael Pellegrino   
732-751-1115
mpellegrino@cgm-ast.com

For Immediate Release August 18, 2008           

 

Allied Security Innovations, Inc. (ASVN) Second Quarter Reports Income up 320%Increased Sales and Gross Margin Results

 FARMINGDALE, NJ (August 18, 2008) – Allied Security Innovations, Inc. (symbol: ASVN) – an industry leader in the development of Homeland Security and other commercial security related products – announced results for the second quarter 2008.  Sales for the quarter grew 9% to $1,134,954 compared to the same period in 2007, an increase of $ 97,477.  Gross profit over the period increased 9% to $768,528. 

Income, for the quarter increased 320% or $68,556 compared to a loss of $36,301 for the second quarter of 2007.

 “We continue to execute our plan to steadily improve the company and increase market penetration,” states Anthony Shupin, CEO of ASI.  “We have added to our sales force, increased our distribution channels and re-vitalized our production in order to meet the expanding demand for tamper evident products, globally.”

 “In addition to managing to keep our expenses down slightly for the quarter, we are extremely pleased to note that June was our best booked sales month in history,” adds Michael Pellegrino, CFO for ASI.  “Looking ahead, the third quarter should show the results of that effort.”

About Allied Security Innovations, Inc.

The company, based in Farmingdale, NJ, develops and markets integrated enterprise-wide image

applications specifically designed for criminal justice organizations. Customers include states, cities, counties, corrections, justice, and public safety agencies. Additional information is available online, at www.ddsi-cpc.com.

Its subsidiary, CGM Applied Security Technologies, Inc., 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 and containers, as well as a number of highly specialized authentication products. Additional information is available online, at www.cgm-ast.com.

Safe Harbor Statement:

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.