Nighthawk Systems Provides Guidance on First Quarter 2007 Results and Recent Growth Trends
April 26 2007 - 6:00AM
Business Wire
Nighthawk Systems, Inc. (OTCBB: NIHK), a leading provider of
intelligent wireless power management and emergency notification
solutions, today discussed financial results expected to be
included in the filing next month of its Form 10-QSB for the
quarter ended March 31, 2007. Growth experienced in the latter
stages of 2006 continued as the Company received orders in excess
of $300,000 during the first quarter of 2007. As a result, the
Company expects to report an increase in revenues over the first
quarter of 2006 of approximately 49%. These improved results were
largely driven by increased sales of custom logic boards for
industrial applications to tier-one customers such as Verizon
Wireless, as well as an increase in sales to electric utilities.
The steady increase in sales of Nighthawk units throughout 2006 and
into 2007 also resulted in an increase in recurring revenues from
airtime sales of approximately 75% from the first quarter of 2006
to the first quarter of 2007, and enhanced gross profit margins as
well. H. Douglas Saathoff, Nighthawk�s CEO commented, �We�re very
pleased that 2007 has gotten off to a great start. I�m extremely
pleased with the number of new customers that we�re bringing into
the fold, and that exposure of our success is opening doors to new,
more customized applications with some well known companies. These
more specialized sales, combined with the incremental growth in
sales of our traditional plug and play products, have not only
added top line revenue growth for the Company, they�ve enhanced the
profit margins and cash flows produced by the Company as well. We
haven�t sacrificed margins to achieve this steady growth we�ve
experienced.� About Nighthawk Systems, Inc. Nighthawk is a leading
provider of intelligent wireless power control products that enable
simultaneous activation or de-activation of multiple assets or
systems on demand. Nighthawk's installed customer base includes
major electric utilities, internet service providers and fire
departments in over 40 states. Nighthawk's products also enable
custom message display, making them ideal for use in traffic
control and emergency notification situations. Individuals
interested in Nighthawk Systems can sign up to receive email alerts
by visiting the Company's website at www.nighthawksystems.com.
Forward-looking statements Statements contained in this release,
which are not historical facts, including statements about plans
and expectations regarding business areas and opportunities,
acceptance of new or existing businesses, capital resources and
future business or financial results are "forward-looking"
statements. You should not place undue reliance on these
forward-looking statements. Such forward-looking statements are
subject to risks and uncertainties, including, but not limited to,
customer acceptance of our products, our ability to raise capital
to fund our operations, our ability to develop and protect
proprietary technology, government regulation, competition in our
industry, general economic conditions and other risk factors which
could cause actual results to differ materially from those
projected or implied in the forward-looking statements. Although we
believe the expectations reflected in the forward-looking
statements are reasonable, they relate only to events as of the
date on which the statements are made, and our future results,
levels of activity, performance or achievements may not meet these
expectations. We do not intend to update any of the forward-looking
statements after the date of this press release to conform these
statements to actual results or to changes in our expectations,
except as required by law.
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