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DDSI 10Q out... revenues increase by 40.9 %
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[QUOTE]Originally posted by brackep: [QB] Digital Descriptor Systems, Inc. Announces 3rd Quarter '06 Results Tuesday November 28, 10:00 am ET Revenues Increase to $1,262,585, up 59% from Q3 '05 SEA GIRT, N.J., Nov. 28 /PRNewswire-FirstCall/ -- Digital Descriptor Systems, Inc. (Pink Sheets: DDSI - News) -- an industry leader in the development of Homeland Security and other commercial security related products -- announced results for the period ending September 30, 2006. Revenues for the nine-month period grew 59 percent, to $3,404,896, versus the nine-month period ending September 20, 2005 revenues of $2,143,310. Gross profit over the period rose $1,130,853, to $2,485,978, up 84 percent, compared to $1,355,125 during the same nine months of 2005. ADVERTISEMENT "We continue to improve the vigor of our company," says Anthony Shupin, CEO of DDSI. "Our year to date earnings before interest, taxes, depreciation and amortization for the nine months of 2006 are $408,023 versus a negative $235,543 in 2005, an increase of 116 percent. Our immediate focus continues to be on increasing revenue, while controlling expenses and improving operations. The company intends to continue to execute its plan to increase operational efficiencies, refine and develop new products and expand sales and distribution channels to meet market demand. DDSI CFO Michael Pellegrino adds: "We continue to enjoy the benefits of careful control of our costs. Operating income (Income prior to Interest, Depreciation, Amortization and Taxes) increased 273 percent, up $643,566 for the same period in '05. Net loss for the period and year-to-date increased 145 percent and 45 percent to $963,073 and $1,298,166 respectively mainly due to changes in accounting methodology for the debt of the company. About Digital Descriptor Systems, Inc. The company, based in Sea Girt, NJ, develops and markets integrated enterprise-wide image applications specifically designed for criminal justice organizations. Customers include states, cities, counties, corrections, justice, and public safety agencies. Additional information is available online, at [URL=http://www.ddsi-cpc.com.]www.ddsi-cpc.com.[/URL] Its subsidiary, CGM Applied Security Technologies, Inc., based in Somerset, NJ, is a leading manufacturer and distributor of Homeland Security products, including indicative and barrier security seals, security tapes and related packaging security systems, protective security products for palletized cargo, physical security systems for tractors, trailers and containers, as well as a number of highly specialized authentication products. Additional information is available online, at [URL=http://www.cgmsecuritysolutions.com.]www.cgmsecuritysolutions.com.[/URL] Safe Harbor Statement: Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors associated with our Company, review our SEC filings. -------------------------------------------------------------------------------- Source: Digital Descriptor Systems, Inc. [/QB][/QUOTE]
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