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Optelecom-NKF Reports First Quarter 2006 Results
Revenue Climbs 73 Percent Setting New Record
Operating Income Increases 277 Percent
Net Income Increases 274 Percent
GERMANTOWN, Md., May 15 /PRNewswire-FirstCall/ -- Optelecom-NKF, Inc., (Nasdaq: OPTC), a leading global provider of advanced Internet Protocol (IP)- video network solutions today announced its financial results for the first quarter ended March 31, 2006.

The Company reported record sales for the first quarter of $9,515,447, an increase of 73% from last year's first quarter revenues of $5,486,914. Operating income for the quarter ended March 31, 2006 totaled $1,168,760 compared to $310,161 for the same period last year, an increase of 277%. Net income for the quarter totaled $564,189 or $0.16 per fully diluted share -- including the expensing of equity-based compensation -- an increase of 274% compared to net income of $150,808 or $0.05 cents per fully diluted share for the same quarter last year.

'I am pleased with our progress,' said Edmund Ludwig, president and CEO of Optelecom-NKF, Inc. 'During the quarter we posted strong revenue growth and operating results. We initiated a new strategic effort to grow our Federal Government sales by partnering with Government Sales Force, LLC of McLean, Virginia. Importantly, we introduced Siqura(TM), our advanced and versatile platform for building market specific, intelligent IP surveillance solutions.'

'Our key markets will continue to grow as cameras proliferate and the need to effectively manage more and more video related assets drives networked solutions. The acquisition and successful integration of NKF clearly strengthened our hand. That transaction effectively doubled revenues and the size of the organization as a whole. It dramatically expanded our sales and service footprint and enabled us to step up the pace of development and deployment of networked solutions technology.'

'Going forward, we intend to continue executing our core strategy of delivering profitable organic growth, developing the products and services end-users want, incorporating analytic software, and seeking additional growth through potential additions to our product lines.'

'Revenue and earnings growth for the first quarter were very strong, even taking into consideration first quarter seasonality and the required SFAS 123R expensing of share-based compensation totaling about $175,000,' commented James Armstrong, Optelecom-NKF's CFO and COO of North American operations. 'Product margins remain at historic highs. The Company's current ratio increased to 2.02 compared to 1.86 at the end of last year. Shareholder equity increased from $11.8 million at the end of last year to $13.8 million at this quarter's end. All are indicators of our solid financial condition.'

'Our business is sound. We are focused on driving Optelecom-NKF forward as a leading global provider of IP/Ethernet Video solutions. We are working proactively to meet the increasingly complex needs of video surveillance and Intelligent Transportation Systems (ITS) customers. We see sales of IP networked solutions expanding. We also see continuing demand for our high- bandwidth legacy systems, such as the Department of Defense's advanced uncompressed fiber-optic video network for use in urban warfare training.'

'The world remains a dangerous place, but it's also a world where people and goods are in constant motion. Whether we are called on to help secure borders or asked to optimize highway infrastructure through better traffic flow, Optelecom-NKF is meeting our customers' needs today and we remain committed to developing product solutions that will meet their future needs.'

About Optelecom-NKF, Inc.

Optelecom-NKF, Inc. (Nasdaq: OPTC), is a global supplier of network video equipment, including video servers, Ethernet switches, fiber optic systems and video management software. It delivers complete solutions for traffic management and security in airports, seaports, public transport, public space, industry parks and buildings.

Founded in 1972, the Company's R&D centers have accumulated extensive knowledge of fiber optic and IP/Ethernet network technologies. Optelecom-NKF supplies top-quality equipment and is committed to providing its customers with expert technical advice and support. All products are developed and tested for LAN and WAN applications.

Optelecom-NKF has offices in the US, the Netherlands, France, Spain, the UK, and Singapore, and expertise centers in the US and Europe.

Forward-Looking Statements

The statements contained in this release, which are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include, among others: the ability of Optelecom-NKF to integrate operations with NKF Electronics; the ability of the Company to develop and market products and communication solutions for the video surveillance, transportation, and business video markets; lack of reliable vendors, service providers, and outside products; unforeseen changes in competing technologies and products; worldwide economic variances; poor or delayed research and development results; and disparities between forecast and realized sales results. Other important factors that could cause actual results to differ materially are included but are not limited to those listed in Optelecom-NKF's periodic reports and registration statements filed with the Securities and Exchange Commission. Optelecom-NKF does not assume any obligation to update information concerning its expectations.


EPS went form 0.05-----to 0.16

Chart is bottomed out.....But looks like a sweeeet reversal phase...
Lets see tomorrow what happens.....
If one more white candle tomorrow....
Then it is definately in reversal

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This is not a recommendation to buy or sell securities.

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