Press Release
INTEGRATED SECURITY SYSTEMS, INC. ANnOUNcEs RESULTS FOR FIRST QUARTER of Fiscal year 2005
November 22, 2004 - For Immediate Release
Irving,
Texas – November 22, 2004 – Integrated Security Systems, Inc. (ISSI), (OTCBB
Symbol: IZZI) today announced the Company’s first quarter of fiscal 2005
revenues of $3.4 million, an increase of 97% over the first quarter of fiscal
2004 revenues of $1.7 million, reflecting its strong Homeland Security
initiatives. Operations also
improved significantly from a net loss of $0.2 million in the first quarter of
fiscal 2003 to breakeven for the first quarter of fiscal 2004.
Net income also improved by $0.3 million for the current quarter.
“Recognizing
the Company’s goal for a year of strong profitability, we are particularly
encouraged with the positive performance in this first quarter, which we view as
a significant indication of our turnaround status,” said C. A. Rundell, Jr.,
Chairman and CEO of ISSI.
Notable
achievements by the Company during the quarter include:
§
Positive EBITDA for ISSI
§
Sales growth of 97% compared to the
same quarter a year ago
§
Intelli-Site profitability at the
net income level (pre-corporate charges) for the first time ever
Subsequent
to the current quarter end, the Company has announced:
§
Replacement of its factoring
facility with a new asset based lending facility
§
$1.5 million infusion of capital
§
Strengthening of management
organization
The
changes that have been made within the organization, along with the infusion of
capital and the placement of the asset based lending facility has put us in a
very strong position and will enable us to focus on the company achieving it’s
goals.
About Integrated Security Systems, Inc. (ISSI)
Headquartered in Irving, Texas, ISSI is a technology company that designs, develops and markets safety equipment and security software to the commercial, industrial and governmental marketplaces. ISSI is a leading provider of traffic control and safety systems within the road and bridge and perimeter security gate industries. ISSI designs, manufactures and distributes warning gates, crash barriers (anti-terrorist and traffic control barriers), lane changers, airport and navigational lighting and perimeter security gates and operators. ISSI’s Intelli-Site® provides users with a software solution that integrates existing subsystems from multiple vendors without incurring the additional costs associated with upgrades or replacement. Intelli-Site® features a user-defined graphics interface that controls various security devices within one or multiple facilities. ISSI conducts its design, development, manufacturing and distribution activities through two wholly owned subsidiaries: BB ARMR Corporation and Intelli-Site, Inc. For more information, please visit www.integratedsecurity.com, www.bb-armr.com or www.intelli-site.com.
This information contains certain forward-looking statements. It is important to note that IZZI's actual results could differ materially from those projected by such forward-looking statements. Important factors that could cause actual results to differ materially from those projected in the forward-looking statements include, but are not limited to, the following: operations may not improve as projected, new products may not be accepted by the marketplace as anticipated, or new products may take longer to develop than anticipated.
CONTACTS:
Integrated Security Systems, Inc.
C. A. Rundell, Jr., Chairman, CEO
(972) 444-8280
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Integrated Security Systems, Inc • www.integratedsecurity.com 8200 Springwood Dr. Ste 230 • Irving, TX 75063 • 972-444-8280 All images & content © Copyright 2003 ISSI. All Rights Reserved. |