Viscount Systems Inc. announced financial results for its third quarter, which ended Sept. 30. Highlights include:
-- Sales for the quarter ended September 30, 2004 were $1,239,485
-- Sales for the quarter ended September 30, 2004 increased by 16%, as compared to the quarter ended September, 2003.
-- Gross profit for the quarter ended September 30, 2004 increased by 21.2%, as compared to the quarter ended September 30, 2003.
Steve Pineau, Viscount President and CEO commented on the results.
"We are aggressively beating last year's record revenues with our fifth consecutive quarterly increase and MESH is only beginning to make an impact," said Pineau. "We have increased our marketing related MESH expenditures by $759,327 ytd., otherwise our EPS would be very positive. Our marketing investment is already paying off with MESH construction projects booked for 2005 in increasing numbers of states and countries. Since the market for MESH type technology absolutely dwarfs our existing technology and our marketing is generating interest from the highest level government agencies and corporate organizations, 2005 looks very promising for our investors."