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CyberKey Solutions, Inc. Reports Over $12 Million in Earnings for First Two Quarters of 2006


By Market Wire
Last Update: 7/28/2006 8:30:08 AM Data provided by

ST. GEORGE, UT, Jul 28, 2006 (MARKET WIRE via COMTEX) -- CyberKey Solutions, Inc. (PINKSHEETS: CKYS) is pleased to announce that the Company has reported total Net Income of $12,152,060 for the first and second quarters of 2006. CyberKey Solutions has posted their 1st and 2nd Quarter 2006 unaudited financials on the Company's website, www.cyberkeysolutions.com, and also on www.pinksheets.com. The Company is currently in the process of auditing their financial statements and is expecting to file them in the near future.

According to the unaudited financial statements, CyberKey Solutions total income was $25,050,708.23 which includes the purchase order from the Department of Homeland Security for 150,000 CyberKey units. The Company has also been directly marketing and selling their products through their corporate website, www.cyberkeysolutions.com, and www.military.com.

CyberKey Solutions posted a Gross Profit of 12,806,298.97 with total expenses of only $654,238.78 for the first 6 months of 2006. As a result, CyberKey's Net profit of more than $12 Million yielded an earnings per share of more than $.027.

"These financial statements are an accurate reflection of the progress that we have made this year. We continue to exceed expectations and show the financial community that we are grossly undervalued at this point in our corporate growth," stated Jim Plant, CEO of CyberKey Solutions, Inc.

CyberKey Solutions, Inc. reported Total Assets of $19,554,590.98. The majority of the assets are a result of the $19 Million accounts receivable from the Department of Homeland Security. CyberKey's Total Liabilities are $6,617,706. CyberKey recently announced that the Board of Directors has authorized its officers and directors to buy up to five million shares of common stock directly from the open market. The Board's decision was based upon the various events that have already unfolded and what the Company believes will be happening in the near future as they continue the fulfillment of the Department of Homeland Security purchase order.

About CyberKey Solutions, Inc.:

CyberKey Solutions, Inc. recently received a $25 Million Dollar purchase order from the Department of Homeland Security. CyberKey Solutions is currently shipping their USB flash drives to the Department of Homeland Security as well as to all branches of the U.S. Military. CyberKey Solutions, Inc., based in St. George, Utah, partners with industry leading manufacturers and distributors to deliver secure USB drive based solutions to vertical markets and content owners, service providers and resellers. CyberKey's solutions solve real world issues in the entertainment, education, government, military, automotive, financial services and medical industries. CyberKey Solutions' technologies allow users to securely transfer large amounts of data, files and applications software from one electronic device to another while employing a patent pending USB based Digital Rights Management process. CyberKey's solutions create new opportunities for existing industries and applications.

For more information, please visit CyberKey's website: www.cyberkeysolutions.com

Statements contained in this news release, other than those identifying historical facts, constitute 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

SOURCE: CyberKey Solutions, Inc.