ST. PETERSBURG, Fla.,
Nov. 7, 2011 /PRNewswire/ -- Infrax
Systems, Inc., (OTCBB: IFXY), a global provider of unified Smart
Grid-related products and services for the Energy and Utility
industries, announced results for their Lockwood Technologies
subsidiary in advance of their 10Q filing due November 15, 2011. The company expects to report
revenues in excess of $175,000 for
the quarter and net income in excess of $70,000 for Lockwood. The Company continues to
see a positive impact from the acquisition of majority interest in
Lockwood Technologies, which was completed in April 2011.
"Lockwood Technologies has continued to add to its existing
customer base during this integration phase and they are on track
to meet their objectives in the year ahead. The demand for asset
management remains strong as companies seek to control spending and
more efficiently manage their resources," said Paul J. Aiello, CEO of Infrax Systems, Inc. "We
remain committed to growing their traditional asset management
base, while we continue the integration of their technology into
Infrax's Secure Intelligent Energy Platform."
About Infrax Systems
Infrax Systems offers a series of interrelated operational
management, communications, and grid security related products and
services known as Secure Intelligent Energy Platform (SIEP). Our
products enable a comprehensive and unified solution for
communications and applications management of the Smart Grid. SIEP™
incorporates a wide array of communications, security, device and
data management tools for Smart Grid applications such as advanced
metering solutions and grid optimization. SIEP platform creates a
unified solution to securely manage Advanced Metering
Infrastructure (AMI) and distribution automation. Infrax's secure
smart grid platform, incorporates a communications transport and
management system, (Grid Mesh™) , device and data security
management, and ultimately secures intelligent endpoint devices
(SIED). The secure management of the "last mile" backhaul will be
necessary for utilities to implement Smart Grid applications
including AMI, real-time pricing, Demand Side Management (DSM),
Distribution Monitoring and Automation. When combined, these
applications can offer economic, operational and environmental
benefits for utilities, and ultimately the utility's customers.
For INFRAX Systems information,
contact Investors@Infraxinc.com or
visit www.infraxinc.com.
Forward-Looking Statements
This press release may contain forward-looking statements covered
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements relate to, among other
things, plans and timing for the introduction or enhancement of our
services and products, statements about future market conditions,
supply and demand conditions, and other expectations, intentions
and plans contained in this press release that are not historical
fact and involve risks and uncertainties. Our expectations
regarding future revenues depend upon our ability to develop and
supply products and services that we may not produce today and that
meet defined specifications. When used in this press release, the
words "plan," "expect," "believe," and similar expressions
generally identify forward-looking statements. These statements
reflect our current expectations. They are subject to a number of
risks and uncertainties, including, but not limited to, changes in
technology and changes in pervasive markets.
Contact:
Contact:
Media Contact:
Infrax Systems, Inc.
investors@infraxinc.com
727-498-8514
SOURCE Infrax Systems, Inc.