SHENZHEN, China , Jan. 10 /Xinhua-PRNewswire/ -- China Security & Surveillance Technology, Inc. (NYSE: CSR), a leading provider of digital surveillance technology in the PRC, today announced new contracts won and sales orders received in the fourth quarter ending December 31, 2007 .
The Company's new contracts and sales orders, which include revenues from
its newly acquired subsidiaries, amount to approximately
The Company is also issuing guidance for the first quarter of 2008. Total revenue is expected to be in the range of US$68-70 million with adjusted net income of US$13-14 million, and adjusted diluted EPS of US$0.31-$0.34. The guidance reflects strong growth combined with the expected seasonal fluctuation that occurs every year as a result of the Chinese New Year holiday. For the full year 2008, the Company maintains its prior guidance of revenue in the range of US$350-370 million with adjusted net income of US$65-75 million, and adjusted diluted EPS of US$1.50-$1.75.
Mr. Guo Shen Tu , Chief Executive Officer of China Security commented, ''We are pleased with the continued growth of our company as evidenced by the contracts won in the fourth quarter of 2007. We continue to be confident in the growth potential of the security market in China and will continue to pursue growth both organically and via strategic acquisitions. We are confident with our strategic direction and look forward to continued growth for our business in 2008 and beyond.''
The Company also announced that, as of Q1 2008, it will discontinue providing quarterly updates as to contracts won prior to disclosing quarterly earnings results. The company will continue to provide quarterly and annual financial guidance.
About China Security & Surveillance Technology, Inc.
Based in Shenzhen, China , China Security manufactures, distributes, installs and maintains security and surveillance systems throughout China. China Security has a manufacturing facility in Shenzhen and an R&D facility which maintains an exclusive collaboration agreement with Beijing University. China Security has built a diversified customer base through its extensive sales and service network throughout China . To learn more about the Company visit http://www.csst.com .
Safe Harbor Statement
Statements during the conference presentation may include information about the Company's plans, growth and strategies, which may include 'forward- looking statements' within the context of the federal securities laws. Statements regarding the Company's future events, developments and future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The Company's actual results may differ materially from those suggested as a result of various factors. Interested parties should refer to the disclosure concerning the operational and business concerns of the Company set forth in the Company's filings with the Securities and Exchange Commission.
SOURCE China Security & Surveillance Technology, Inc.