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Press Release Source: Defense Technology Systems, Inc.
Defense Technology Systems, Inc. Projects Substantial Revenue Growth from Quarter Ending March 31st to Quarter Ending June 30th Thursday June 2, 1:23 pm ET Current Quarter to Include Revenue from Newly Acquired Subsidiary; Defense Technology Acquired a Majority Interest in DCI on April 6th
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--June 2, 2005-- Defense Technology Systems Inc. (OTCBB:DFTS - News) announced today that the Company anticipates substantial revenue growth from the quarter ending March 31st, 2005, to the ending of the current quarter on June 30th. "Last week Defense Technology released the last quarterly report reflecting financial performance prior to the implementation of our recently announced revitalization and redirection plan," said Philip Verges, a board member speaking on behalf of the entire Board of Directors. "The Company has spent a very difficult year preparing for a major shift in direction. On April 6th, Defense Technology completed the majority acquisition of DCI, a defense industry systems engineering firm. This acquisition marks a continuation of our plan to build Defense Technology into a leading provider of Homeland Security solutions to major metropolitan municipalities. The Company's next financial report will reflect the current benefit and future promise of our revitalization and redirection plan with a substantial increase in revenue for the current quarter over the last quarter ended on March 31st."
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