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April 15, 2010
Suspect Detection Systems Inc. Files 2009 Audited Financials
NEW YORK, NY, April 15 - Suspect Detection Systems Inc., (SDSS.OB), proprietor of counter terror and crime prevention technology developed by its subsidiary Suspect Detection Systems Ltd., today reported audited financials for the 2009 fiscal year.
Highlights of the audited financial reports are as follows:
• The company reported revenues of $888K in 2009, versus zero revenues in 2008.
• Gross profits were $747K.
• The company recorded advances of $919K from customers for sales yet to be completed.
"I am extremely satisfied with the financial results achieved by Suspect Detection Systems in 2009," said Gil Boosidan, CEO of Suspect Detection Systems Inc. "The financial growth is quite incredible in a competitive homeland security market, where the sales cycle typically takes a long time to develop. I am confident that growth will continue during 2010, as we expect to continue reaching our strategic milestones. We look forward to the announcement of additional revenues."
"2009 was the first year in which Suspect Detection Systems began marketing its automated interrogation system for homeland security. In less than a single year, the company was able to penetrate numerous markets, signing contracts with multiple federal agencies as well as private security enterprises. The company was also able to complete repeat sales with several agencies," Boosidan added.
About Suspect Detection Systems
Suspect Detection Systems Inc. through its subsidiary Suspect Detection Systems Ltd., is a developer of proprietary counter terror and crime prevention technology designed to identify threats in real-time, and prevent incidents before they are carried out. The technology detects the hidden ‘hostile intent' of assailants-before they commit their intended acts-with a remarkable degree of accuracy. The system can also be used after crime was committed to quickly identify criminals from among a pool of suspects.
Forward-Looking Statements
This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Suspect Detection Systems and its technologies. Readers are cautioned not to place undue reliance on these statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated in the forward-looking statements. Suspect Detection Systems' public filings may be viewed at www.sec.gov.
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