Princeton Security Technologies (OTC-BB: PSGY) Announces Q1 Results for 2012
Princeton Security (OTCBB:PSGY)
Today : Thursday 17 May 2012
Princeton Security Technologies, Inc. (OTCBB: PSGY), a leading supplier of X-ray and Gamma-ray Detectors, Spectroscopy systems and Radioactive Isotope Identifier Devices (RIID) through its wholly-owned subsidiary Princeton Gamma-Tech Instruments Inc. (PGT), announced first quarter results for the quarter ending March 31, 2012.
PSGY's sales for the first quarter in 2012 grew by 74 percent to over $1.5 Million from the approximate $870,000 for the same period in 2011. This sales growth caused increased Gross Profit amounting to more than $855,000 for Q1. The Gross Profit in the first quarter was 86 percent more than the approximate $459,000 from the previous year.
The net profit consequently increased by 38 percent to $241,391 and the net profit per share of common stock also increased to $.02 for the quarter ending March 31, 2012.
The company expects continued growth as the demand for Radioactive Isotope Identifier products increases.
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