NIHK Video River Networks Inc (PK)

Nighthawk Systems, Inc. (OTCBB:NIHK), a leading provider of intelligent wireless power management and emergency notification solutions, announced today that revenues for the second quarter of 2007 were $339,684 a 60% increase over the first quarter of 2007 and a 35% increase over the second quarter of 2006. The quarterly revenue figure was the Company�s largest in the past four years. Selling, general and administrative expenses decreased 5% over the same period in the prior year, and the Company�s net loss improved from $633,561 during the second quarter of 2006 to $592,651, or $0.01 per share, for the second quarter of 2007. These improved results were largely driven by increased sales and shipments of Nighthawk�s CEO700 whole house disconnect units to electric utility customers, which reached an all-time high for a fiscal quarter. More than 75% of revenues for the quarter were generated by sales to electric utility customers. The Company�s CEO700 allows electric utilities to connect and disconnect power to a customer by sending a wireless message to the meter-based unit, thereby avoiding the time and expense historically associated with dispatching a truck and personnel to the site to manually perform the task. H. Douglas Saathoff, Nighthawk�s CEO, commented, �Demand for our CEO700 remote disconnect product has been very strong so far this year and I�m extremely pleased to see growth not only in the number of electric utility customers, but also in the size of the orders being placed by those utilities. We are building our manufacturer�s rep network and beginning to see some positive results from that program. We�re also making enhancements to our products that will make them even more useful to our electric utility customers while decreasing our production costs per unit. I�m excited about the progress that we are making in the utility market, which I believe presents the Company with the largest opportunity for near-term growth and positive financial results.� 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.