From the Wires
Electronic Control Security, Inc. Awarded Series of Purchase Orders Totaling $1.6 Million to Supply Security Equipment for the Kingdom of Saudi Arabia's Frontier Forces
By: Marketwired .
Feb. 8, 2013 09:30 AM
CLIFTON, NJ -- (Marketwire) -- 02/08/13 -- Electronic Control Security, Inc. (OTCBB: EKCS) (ECSI), a global leader in state-of-the-art integrated entry control and perimeter security systems, today announced receipt of a series of purchase orders valued at $1.6 million to supply security equipment for the Kingdom of Saudi Arabia's Frontier Forces. ECSI anticipates fulfilling these purchase orders during fiscal year 2013.
Arthur Barchenko, President & CEO of ECSI, stated, "These purchase orders reflect ECSI's commitment to establishing new revenue opportunities in overseas markets. This news is a testament to ECSI's reach as a company and I believe demonstrates a degree of confidence on the part of our foreign customers in ECSI's ability to consistently deliver quality product no matter the geographical distance. For this particular customer, we are excited about the prospects of a long-standing relationship."
Further, Mr. Barchenko added that, "Proposals have been submitted in response to additional opportunities in the Kingdom addressing security upgrade requirements for the Ministry of Defense, Ministry of Interior as well as oil & gas facilities. Contract awards are anticipated for fiscal 2013 through 2015."
ECSI is a global leader in entry control and perimeter security and a quality provider to the Department of Defense, Department of Energy, nuclear power stations, and other large commercial-industrial complexes. The Company designs, manufactures and markets physical electronic security systems for high-profile, high-threat environments utilizing risk assessment and analysis to determine and address the security needs of its customers. Teaming agreements with major system integrators enable ECSI to support the installation and aftermarket of its products in the U.S. and overseas. ECSI is located at 790 Bloomfield Avenue, Bldg. C-1, Clifton, NJ 07012. Tel: 973-574-8555; Fax: 973-574-8562. For more information on ECSI and its customers, please visit http://www.ecsiinternational.com.
ECSI INTERNATIONAL, INC. SAFE HARBOR STATEMENT: This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to changes in economic conditions generally and in our industry specifically, timely delivery by us of the purchase orders and timely receipt by us of payment in respect of such orders, acceptance of our proposals, changes in security technology, receipt and timing of collections from purchase orders, legislative or regulatory changes that affect us, the availability of working capital, changes in costs and the availability of goods and services, the introduction of competing products, changes in our operating strategy or development plans, sufficiency of cash reserves and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended June 30, 2012 and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
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