ICOP Digital Reports 121% Revenue Growth in First Six Months of 2007

LENEXA, Kan., Aug. 13 /PRNewswire-FirstCall/ -- ICOP Digital, Inc. (Nasdaq: ICOP), an industry-leading company engaged in advancing digital surveillance solutions, today announced its financial results for three and six months ended June 30, 2007...


LENEXA, Kan., Aug. 13 /PRNewswire-FirstCall/ -- ICOP Digital, Inc. (Nasdaq: ICOP), an industry-leading company engaged in advancing digital surveillance solutions, today announced its financial results for three and six months ended June 30, 2007 .

Financial highlights for the three months ended June 30, 2007 compared to the three months ended June 30, 2006:

Financial highlights for the six months ended June 30, 2007 compared to the six months ended June 30, 2006:

As of June 30, 2007 , the Company had $4.8 million in cash; $2.4 million in cash restricted to inventory purchases; $2.0 million in accounts receivable; $2.5 million in inventory and total working capital of $10.8 million. Total shareholders' equity was $11.9 million.

Dave Owen , Chairman and CEO, stated, "The first six months of 2007 have proven to be a period of notable growth for ICOP and a time in which we have made meaningful progress in expanding our growing product platform and increasing our share of the domestic digital surveillance market. With the commercial availability of the ICOP Model 20/20-W(TM), ICOP LIVE(TM) and ICOP Guardian(TM) IP camera, and with the planned third quarter launch of the ICOP Model 4000(TM) for applications in the mass transit industry, we believe we are ideally positioned to achieve a series of critical financial and operational objectives in the second half of this year. In fact, already in the third quarter, we have been processing, or have been notified that we're being awarded, record-size orders from new and existing customers within law enforcement who are proceeding with planned fleet deployments of the ICOP Model 20/20 and ICOP Model 20/20-W. Moreover, we are seeing a number of state-supported initiatives coming to bear, with states like New Mexico , choosing ICOP to supply local and state law enforcement agencies with digital in-car solutions under state-approved pricing contracts."

Continuing, Owen added, "Our joint national marketing effort with Sprint- Nextel continues to yield a broad range of compelling sales opportunities for our proprietary community-centric surveillance and communications platform, the ICOP Solution(TM), marked by interest from government agencies and commercial enterprises, alike, who recognize the immediate need to wirelessly interface site surveillance and security with local law enforcement and related emergency response agencies within the community. This area of focus for ICOP represents perhaps the most exciting and significant long term growth potential for our Company. By capitalizing on our superior suite of surveillance products, the combined strength of ICOP and Sprint-Nextel national sales teams, and our first-to-market advantage, we anticipate many meaningful developments on this front in coming quarters."

ICOP will host a teleconference this afternoon, beginning at 4:15 PM Eastern, and invites all interested parties to join management in a discussion regarding the Company's financial results, corporate progression and other meaningful developments referred to in this press release. The conference call can be accessed via telephone by dialing toll free 1-800-240-2134 or via the web at http://www.ICOP.com. For those unable to participate at that time, a replay of the web cast will be available for 90 days on http://www.ICOP.com.

About ICOP Digital, Inc.

ICOP Digital, Inc. protects people, assets and profits, providing a Veil of Protection(TM) for our nation's communities with innovative, mission- critical security, surveillance and communication solutions. The Company engineers, manufactures and markets mobile and stationary surveillance products for use in the public and private sectors, and facilitates the delivery of live video to first responders. The ICOP Model 20/20(R)-W, ICOP's flagship product, is the leading digital in-car video recorder system for law enforcement. The ICOP Guardian(TM) is a stationary IP camera that records high quality video images on a local server, and is capable of activation through several triggers. ICOP LIVE(TM) delivers live streaming video to and from first responder vehicles and headquarters, empowering first responders with enhanced situational awareness, helping to optimize the outcome of a crisis. (GSA Contractor)

This content continues onto the next page...