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Burnaby, British Columbia - Monday, August 15,
2005 - Viscount Systems Inc. (OTCBB - VSYS.OB) -- today
announced financial results for its second quarter ended
June 30, 2005. Highlights included:
· Sales for the quarter ended June 30,
2005 were $1,180,205, an increase of 15% when expressed
in U.S. Dollars or 14% when expressed in Canadian, compared
to the quarter ended June 30, 2004.
· Sales for the six months ended June
30, 2005 were $2,503,950, an increase of 19.2% when
expressed in U.S. Dollars or 14.4% when expressed in
Canadian Dollars, compared to the six months ended June
30, 2004.
· Sales of MESH™ continue
to increase and accounted for 20% of all revenue.
· Gross Profit for the Quarter increased
by 9% when expressed in US Dollars or 8% when expressed
in Canadian for the quarter ended June 30, 2005, as
compared to the quarter ended June 30, 2004.
· SG and A expenses decreased by 7.2%
when expressed in US Dollars or 10.9% when expressed
in Canadian for the six months ended June 30, 2005,
as compared to the six months ended June 30, 2004.
"MESH™ sales are now making
an impact but these are mostly shipments of early specified
projects," Steve Pineau, Viscount President and CEO,
commented.
"The increase in MESH™
quotes and bookings for new projects is far outstripping
our current sales increase. MESH™ is an
approach that has taken the market time to digest but
with the increasing focus on IT convergence MESH™
is more powerful than traditional controller technology.
The trend we are seeing is that in regions where MESH™
systems have been installed and integrators are booking
additional projects other integrators who expressed
little interest are now entering our certification program,
in some cases because some feel they will be forced
to sell MESH™ simply to compete. This
puts us in a very good position."
About Viscount Systems
Viscount Systems Inc. is a designer and manufacturer
of telecommunications and electronic door control access
systems for the security industry. From 1969-1997 Viscount
was an R&D affiliate of Telus, itself a controlled subsidiary
of GTE, now Verizon Communications. The company's diverse
line of products are designed to improve safety and
manage security for property owners and users. Viscount's
products have been installed in approximately 35,000
sites in over 30 countries and are sold through a 500-member,
North America-wide dealer network comprised of security
equipment vendors. Additional information on Viscount's
products may be obtained on-line at http://www.viscount.com.
Financial statements are available from
the company's registration statement filed with the
U.S. Securities and Exchange Commission on February
6, 2002, which may be viewed at www.sec.gov or the company's
web site www.viscount.com under the heading "Investor
Relations." For further information, or to be placed
on email NEWS ALERT, please e-mail to ir@viscount.com
or call toll free 1-866-252-9446.
Safe Harbor Statement
This press release does not constitute an offer to sell
or the solicitation of any offer to buy any securities
of Viscount Systems Inc., nor shall there be any sale
of any such security in any state in which such offer,
solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws
of any such state.
Forward-looking statements: This press
release and other statements by Viscount Systems Inc.
may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act with
respect to the outlook for earnings and revenues, other
future financial or business performance, strategies
and expectations. Forward-looking statements are typically
identified by words or phrases such as "believe," "expect,"
"estimate," "position," "assume," "potential," "outlook,"
"continue," "remain," "maintain," and similar expressions,
or future or conditional verbs such as "will," "would,"
"should," "could," or similar expressions.
For more information, contact:
Nick Waddell
Vice President, Corporate Communications
Viscount Systems, Inc.
Investor Relations
Toll Free 1-866-252-9446
nick@viscount.com
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