|VSYS year profitable. Not much guidance given, but prior PRs. suggest more growth to come. 2.4 cents EPS, stock priced around 15-18 cents. MESH continuing to grow. VSYS is one of the best deals out there IMO:|
BURNABY, British Columbia--(BUSINESS WIRE)--Viscount Systems (OTCBB:VSYS - News) today announced its annual report for the period ending December 31, 2010.
After tax Profit of $425,500 for 2009 compared to a loss of ($86,364) for 2008.
EPS of 2.4 cents per share
Sales of $4,892,440 compared to $5,102,434.
“We are very pleased with these results,” noted Stephen Pineau, President and CEO of Viscount. “This was our first real profitable year since 2003. While our growth was impeded by the strength of the Canadian dollar, the continued decline of older products and the overall economic downturn, sales of Mesh continued to increase.”
“The improvement in our bottom line resulted from reduced administrative expenses and our focus on profitable MESH sales. We have several new high margin products under development to be released in the next few quarters and this should contribute to an ongoing improvement in profitability.”
About Viscount Systems
Viscount Systems Inc., is a designer and manufacturer of telecommunications and electronic door control access systems for the security industry. From 1969-1997 Viscount was an R&D affiliate of Telus, itself a controlled subsidiary of GTE, now Verizon Communications. The company's diverse line of products are designed to improve safety and manage security for property owners and users. Viscount's products have been installed in approximately 35,000 sites in over 30 countries and are sold through a 500 member, North America-wide dealer network comprised of security equipment vendors. Additional information on Viscount's products may be obtained on-line at viscount.com.