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.
Three Months Ended September 30, 2007 Homeland Expressed Nexus Security 3rd Qtr. in millions Technologies Polimatrix Capital Total Group Inc. Corp. Company Revenue 2.6 - - 2.6 Gross margin 0.9 - - 0.9 Operating exp. 0.7 0.1 0.8 1.6 Operating income/(loss) 0.2 (0.1) (0.8) (0.7) Net income/loss) 0.2 (0.1) 0.1* 0.2 Nine Months Ended September 30, 2007 Homeland Nine Expressed Nexus Security Months in millions Technologies Polimatrix Capital Total Group Inc. Corp. Company Revenue 8.7 0.2 - 8.9 Gross margin 2.3 - - 2.3 Operating exp. 2.1 0.2 1.9 4.2 Operating income/(loss) 0.2 (0.2) (1.9) (1.9) Net income/loss) 0.2 (0.2) (2.4)* (2.4) * includes approximately $0.9 million of income and $0.5 million of expenses and valuation adjustments associated with the derivative liability resulting from our debenture financing for the three and nine month periods, respectively.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.
About Nexus Technologies Group
Nexus Technologies Group, headquartered in Hawthorne, N.Y., provides integrated security solutions for the corporate and government security markets. A subsidiary of Homeland Security Capital Corp., Nexus Technologies Group offers its own brand of security integration, which leverages more than a combined 50 years of industry experience while providing a unique solutions perspective. Ultimately, with cutting-edge technologies, Nexus provides innovative, engineered and scaleable solutions to effectively protect people, property and assets. For more information, visit http://www.nexusna.com.
About Polimatrix
Polimatrix, Inc. is a system integrator and total solutions provider delivering radiation and nuclear protection and detection. The company has been operating since September 2006 as a majority-owned subsidiary of Homeland Security Capital Corporation. For more information, visit www.polimatrix.com.
An investment profile about Homeland Security Capital may be found at http://www.hawkassociates.com/homsprofile.aspx.
For investor relations information regarding Homeland Security Capital, contact Frank Hawkins or Julie Marshall , Hawk Associates, at (305) 451-1888, e-mail: [email protected]. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com.
Forward-looking statement: This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future activities, performance, events or developments, are forward-looking statements. Although Homeland Security Capital Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements.
Company Contact: Homeland Security Capital Corp. C. Thomas McMillen (703) 528-7073 [email protected] Investor Relations: Hawk Associates Inc. Frank Hawkins or Julie Marshall (305) 451-1888 [email protected]SOURCE Homeland Security Capital Corp.
