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Burnaby, British Columbia - Friday, March 31,
2006 - Viscount Systems Inc. (OTCBB - VSYS.OB) -- today
announced results from its 2005 fiscal year, ended December
31, 2005. Highlights included:
- Revenue topped the five million mark
for the first time in The Company's history.
- 2005 Revenue was (Cdn) $5,013,492 compared to $4,391,658
for fiscal 2004, an increase of 14.2%.
- 2005 was Viscount's third consecutive year of double
digit revenue growth.
- The Company delivered a profit of $404 compared to
a loss of $398,565 in fiscal 2004.
- Sales of MESH™ were $1,316,031 compared
to $446,874 for fiscal 2004, an increase of 294%
"We are very pleased with our 2005 results,"
noted Stephen Pineau, President and CEO of Viscount.
"We continued to grow and began shipping increasing
numbers of pre-booked MESH™ systems, this
despite the delay of the release of our V5 Enterprise
platform for shipping until late Q1 2006. We improved
our bottom line dramatically and yet increased R&D to
finalize a number of additional MESH™
enhancements for 2006 Q1 and Q2."
"The market for physical security continues
to grow and MESH™ is on the leading edge
of the continuing convergence of security and IT. We
believe our commitment to MESH™ is about
to pay off since the scope of physical security dwarfs
our traditional telephone entry systems. This can be
easily evidenced by noting that shipments of MESH™
surpassed $1 million, mainly through early commercialization
sites booked back to 2003. Based on the size of the
industry, sales of $1.3 million for MESH™
are not even indicative of the scope of the opportunity."
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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