EKCS has indicated their revenues will be higher this year even though they just concluded a record year this past June 30,2005. This was due largely to the US Air Force contract which is set to run for several more years. The first quarter report should be out in about 2 weeks and if they do report good numbers as they have indicated, the share price should rise nicely. The following is from a recent news release suggesting revenues will be up significantly:
Electronic Control Security Inc. Ramps up to Meet Demand
Thursday October 20, 10:53 am ET
NEW YORK--(BUSINESS WIRE)--Oct. 20, 2005--Homeland Security Stocks.com (HSS) -- Electronic Control Security Inc. (OTCBB: EKCS - News), is moving rapidly to capitalize on the momentum from their record sales performance in just completed fiscal year 2005. The acceleration in performance of their United States Air Force base protection programs is particularly notable following the company's reports that they "continue to close substantial orders for equipment and sales to be delivered in Fiscal '06." In fact, little more than one quarter into fiscal '06, the company has estimated that the backlog from recent orders "will amount to $8,500,000."
The recently announced appointment of Mr. Richard Deyulio, a military technical expert with extensive project management experience, as Senior Project Manager to spearhead the Air Force program is an important indicator of the company's outlook as the United States Air Force, Force Protection Office has moved to increase the number of air force bases to be covered under the IBDSS base security upgrades program by more than 1,000 percent. Mr. Deyulio's hands-on experience in working with all levels of the chain of command, from field techs and specialists to coordinating with the White House gives him the credibility and reputation to maximize the company's prospects under this program.
Electronic Control Security is one of only four companies authorized to bid on over $1.3 billion in security upgrades under the Integrated Base Defense Security System (IBDSS) program. Of the initial bases for which contracts were issued prior to the recent program expansion, Electronic Control Security received one third of the awards. While there is no guarantee that the company will continue to reap an outsize share of the contract awards, their successful start combined with their appointment of Mr. Deyulio, will give them a strong hand in pursuing a significant share of the potential $1.3 billion in awards under this program
I am only expressing my personal opinions or repeating public information from SEC filings or media outlets-which may or may not be correct. Do your own investigating before investing!
