ARLINGTON, Va., Nov. 15 /PRNewswire-FirstCall/ -- Homeland Security
Capital Corp. (OTC Bulletin Board: HOMS), a company focused on acquiring,
developing and consolidating homeland security-related businesses, announced
today its quarterly results for the three and nine months ended September 30,
2007 . In the company's 10-QSB quarterly report filed with the Security and
Exchange Commission yesterday, revenues were reported as
The company measures its operating results by subsidiary. The following table reflects these results from continuing operations, for the three and nine months ended September 30, 2007 , on a segment basis.
C. Thomas McMillen, Homeland Security Capital chairman and CEO, said, "We continue to be very pleased with the progress in our Nexus subsidiary, which has posted its third consecutively profitable quarter. Nexus' cost cutting efforts and focus on higher margin projects has already paid off, and we believe will continue to yield favorable results. Our Polimatrix subsidiary has redefined how police, fire fighters and first responders detect radiological threats and because of its efforts was chosen to supply 22,000 hand-held radiation detection devices to the State of Illinois over the next years. We believe this is the biggest award ever issued in the United States in the hand-held radiation detection equipment industry. I believe these favorable results create value for our company and especially our shareholders."
McMillen continued, "The sale of Security Holding Corp resulted in a 22%
return on investment for our shareholders. Also, we recently invested in a
special purpose acquisition corporation, which raised
About Homeland Security Capital Corp.
Homeland Security Capital is a consolidator in the fragmented homeland security industry. The company is focused on creating long-term value by taking controlling interest and developing its subsidiary companies through superior operations and management. The company is headed by former Congressman C. Thomas McMillen, who served three consecutive terms in the U.S. House of Representatives from the 4th Congressional District of Maryland. Homeland Security Capital intends to operate businesses that provide homeland security products and services solutions, growing organically and by acquisitions. The company is targeting emerging companies that are generating revenues but face challenges in scaling their businesses to capitalize on homeland security opportunities. The company will enhance the operations of these companies by helping them generate new business, grow revenues and improve cash flows.