BALTIMORE MD--(MARKET WIRE)--Apr 18, 2006 -- View Systems, Inc. (OTC BB:VYST.OB), a leading homeland defense solutions provider, today announced year end financial results for 2005, ending December 31st.
According to View Systems' recently filed 10K, revenues for 2005 were $1,172,163 compared to revenues of $476,319 for 2004. Net cash provided by financing decreased from $1,003,700 in 2004 to $338,034 in 2005. Year to date sales for Secure Scan were $727,895 and year to date sales for Visual First Responder were $362,340; up significantly from previous years. As a result of increased marketing, lower cost of product delivery and wider distribution, the company is another step closer to profitability.
"We are executing our business plan in steady increments, quarter by quarter," stated CEO of View Systems Gunther Than. "Moving forward our efforts to build a reputable distribution network will continue to result in increased sales both nationally and internationally. We have continued and will continue to cost-reduce both the SecureScan and VFR products to make them more competitive. Budget cycles for these products are long and we have developed greater staying power. The objective is to improve and enhance the already superior technologies by broadening their detection capabilities to include nuclear radiation as well as magnetic and biometric. These already acquired technologies will be announced in the next several weeks."
About View Systems, Inc.
View Systems, Inc. provides products to law enforcement, military, government agencies, educational facilities, hotels, event and sport venues, and commercial businesses. View Systems has a network of distributors, licensees and strategic alliance affiliates. View Systems, Inc. designs and develops computer software and hardware used in conjunction with surveillance capabilities for government and law enforcement agencies, commercial security professionals, private businesses and residential consumers. The SecureScan system utilizes a technology that senses disturbances in the Earth's magnetic field such as those caused by potential threat objects passing through the portal. The Company's product line consists of the SecureScan II Concealed Weapons Detection System, Visual First Responder, and other biometric recognition products. View Systems has recently integrated a precision optical biometric fingerprint terminal with the SecureScan product.
Forward-Looking Statements
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
