Allied Security Innovations, Inc. Announces Year-End Results
Profits Increase More than 300 Percent
SEA GIRT, NJ (April 4, 2007) – Allied Security Innovations, Inc. (ASVN) – an industry leader in the development of Homeland Security and other commercial security related products – announced results for the operating year, 2006. Revenues for the year grew 35.7 percent, an increase of $1,192,902. Gross profit over the period rose $703, 309, an increase of 319 percent.
“Our record growth, coupled with strong market demand for the top quality, state-of-the-art products we supply were the key components in increased revenues, said Anthony Shupin, CEO of ASI. “Our audited results prove that we are well on our way for continued growth.”
Late last year, ASI announced that it would focus on increasing revenue, while controlling expenses and improving operations. The company intends to continue to execute its plan to increase operational efficiencies, refine and develop new products and expand sales and distribution channels to meet market demand.
"Our strong management controls over expenses continue to help increase our operating profit which also benefited from our significant increase in revenue," added ASI CFO DDSI CFO Michael Pellegrino.
About Allied Security Innovations, Inc.
The company, based in Sea Girt, 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., based in Somerset, NJ, 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.cgmsecuritysolutions.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.