Law Enforcement Associates Corporation (AMEX: AID), a surveillance and security technology company, reported revenues for the three months ended June 30, 2005 of approximately $1.9 million as compared to revenues of approximately $1.3 million for the same period in 2004, an increase of approximately 44%. Revenues for the six months ended June 30, 2005 were approximately $4.5 million as compared to revenues of approximately $2.6 for the same period in 2004, an increase of approximately 72%. The Company also reported a net loss for the second quarter of approximately of approximately $187,000 as compared to a net loss of approximately $442,000 for the same quarter in 2004, a decrease in our net loss of approximately $255,000, approximately 57%.
"While we were disappointed that the Company sustained a loss in the second quarter, we believe that it was attributable to a lower profit margin on a short term contract with one of our larger customers." said Paul Feldman, President of Law Enforcement Associates. "However, we have a strong back log of orders which will be delivered in the third quarter. We believe that delivery of these orders result in a profitable quarter."
About Law Enforcement Associates Corporation
Law Enforcement Associates, Inc. (AMEX. AID), headquartered in Youngsville, N.C., manufactures and markets a diverse line of undercover surveillance products including a complete line of audio surveillance equipment and Homeland Security Products. LEA currently markets to the Military, law enforcement, security and corrections personnel throughout the world, as well as governmental agencies, multinational corporations and non-governmental organizations. LEA has a history of enhancing security at major events including the Summer Olympics, Democratic National Convention, Super Bowl, Winter Olympic Games and Centennial First Flight Celebration and most recently a key security element for the 2005 US Open Golf Championship. The company's technology is also used as a prevention and detection solution at military bases, nuclear facilities, embassies, government installations, oil refineries, and United Nations and NATO locations throughout the world.
The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including the inability to generate and secure the necessary product sale, or the lack of acceptance of the company's products by its customers. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
Source: Law Enforcement Associates Corporation.