GVI Security Solutions Inc., a provider of video security solutions including the complete line of Samsung Electronics products, announces its third consecutive quarter of record profits for the year.
GVI CEO Steven Walin says the company is on the right track by growing profits simultaneously with making major changes to the company’s representative partner network.
“Looking ahead, we expect positive results from our enhanced sales partner network,” says Walin. “We have also seen an increase in sales from our school video security initiative with Samsung.”
Net income for the third quarter of 2007 was $474,000 compared to a loss of $3 million in the third quarter of 2006. The increase in income reflects continuing improvement in product mix, effective cost controls and the company’s concentration on its core business, according to the company.
“We are pleased to report our third consecutive quarter of record profits,” says GVI COO/CFO Joe Restivo. “Our 2007 results reflect a company that has transitioned from losses to profits and from negative to positive cash flow.”
