Defense Technology Systems, Inc. Projects Substantial Revenue Growth from Quarter Ending March 31st to Quarter Ending June 30th
June 02 2005 - 1:23PM
Business Wire
Current Quarter to Include Revenue from Newly Acquired Subsidiary;
Defense Technology Acquired a Majority Interest in DCI on April 6th
Defense Technology Systems Inc. (OTCBB:DFTS) announced today that
the Company anticipates substantial revenue growth from the quarter
ending March 31st, 2005, to the ending of the current quarter on
June 30th. "Last week Defense Technology released the last
quarterly report reflecting financial performance prior to the
implementation of our recently announced revitalization and
redirection plan," said Philip Verges, a board member speaking on
behalf of the entire Board of Directors. "The Company has spent a
very difficult year preparing for a major shift in direction. On
April 6th, Defense Technology completed the majority acquisition of
DCI, a defense industry systems engineering firm. This acquisition
marks a continuation of our plan to build Defense Technology into a
leading provider of Homeland Security solutions to major
metropolitan municipalities. The Company's next financial report
will reflect the current benefit and future promise of our
revitalization and redirection plan with a substantial increase in
revenue for the current quarter over the last quarter ended on
March 31st." Defense Technology Systems recently implemented a
revitalization and redirection plan to leverage its experience in
providing digital communication infrastructure solutions to Fortune
1000 companies and expand into providing overall Homeland Security
solutions to major metropolitan municipalities. To accelerate the
plan, Defense Technology recently acquired a majority interest in
an established defense engineering firm with 15 years of experience
and a portfolio of proprietary technologies. Through acquisition,
Defense Technology has trailing twelve month revenue of $5 million
and plans to significantly build on this revenue through organic
growth, new initiatives and potential acquisitions currently under
negotiation. About Defense Technology Systems, Inc. Defense
Technology Systems, Inc. is an international provider of data and
security solutions focused on the Homeland Security and Defense
industries. The Company offers a broad portfolio of
security-related products, including ballistic glass, video
surveillance, infrastructure security and associated security
systems. The Defense Systems team, working in collaboration with
its partners, will design, develop, manufacture, install and market
specialty products, equipment, and systems for the safety and
security needs of all sectors of the domestic and international
marketplace. In addition, DFTS recently acquired a majority
interest in DCI Corporation (www.dci-corp.com) , a leading edge
technology company with over 15 years of experience in engineering
specialized hardware and software solutions when
commercial-off-the-shelf (COTS) products do not fulfill the
critical requirements of enterprise, military or government
organizations. DCI's experience has earned them the reputation as a
respected Homeland Security solution provider with a broad
portfolio of innovative proprietary technologies. This press
release contains statements (such as projections regarding future
performance) that are forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those projected as a result of certain
risks and uncertainties, including but not limited to those
detailed from time to time in the Company's filings with the
Securities and Exchange Commission. For more information on Defense
Technology Systems, Inc. visit: www.DefenseTechnologySystems.com
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