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Law Enforcement Associates Corporation Announces Strong Third Quarter Results
Law Enforcement Associates, Inc. announce their 3rd Quarter earnings.
News Release
For Immediate Release:
November 14, 2002
Law Enforcement Associates Corporation Announces Strong
Third Quarter Results
Youngsville, NC, November 14, 2002 -- Law Enforcement Associates Corporation (the Company") (OTC: LENF) a manufacturer and distributor of law enforcement and security products, announced today results for its third quarter ending September 30, 2002. For the third quarter ending September 30, 2002, the Company realized total revenues of $1.164 million as compared to total revenues of $1.098 for the third quarter ending September 30, 2001, which represents a 6% increase. During the first nine months of fiscal 2002, the Company reported revenues of $4.71 million compared with revenues of $3.1 million in the first nine months of fiscal 2001, representing an increase of 52%.
The Company reported $1.4 million net income before taxes for the first nine months of fiscal 2002 as compared to $100,583 net income before taxes for the first nine months of fiscal 2001. In addition, the Company had net income of $834,528 for the first nine months of fiscal 2002 as compared to $60,350 for the first nine months of fiscal 2001. The increase in net income before taxes of 1,306% and an increase in net income of 1,282% for the first nine months of 2002 as compared to the first nine months of fiscal 2001reflects the Companys growth in sales in the Under Vehicle Inspection System (UVIS"). The UVIS is used to view the underside of vehicles entering and exiting secure areas or facilities for explosive devices and other contraband. The global demand for the UVIS has resulted in over 800 installations to date.
Recent Highlights:
The Company has recently achieved full reporting status as a result of its filing of its Form 10-SB General Form for Registration of Securities with the Securities and Exchange Commission. The Companys Form 10-SB, Form 10-QSB for the quarter ending September 30, 2002 and future filings are available at http://www.sec.gov.
The Company received the Corporate America Award Recipient 2002 by the National Drug Enforcement Officers Association (http://www.ndeoa.org/award.html).
About Law Enforcement Associates Corporation:
Law Enforcement Associates Corporation, based in North Carolina, manufactures and markets a diverse line of undercover surveillance and security products including a complete line of audio and video surveillance equipment as well as an under vehicle inspection system, which is one of the Companys leading products.
For more information on the Companys products view:
http://www.lea-sales.com/home.shtml or http://www.uvisystems.com/app.htm.
Investors: http://www.investorideas.com
Forward-Looking Information: 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 companys 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.
For more information, contact Dawn Van Zant, ECON Investor Relations, Inc., via email dvanzant@investorideas.com or call toll free 1.866.730.1127.
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