Viscount Reverses Losses in 2Q

BURNABY, British Columbia, Canada

Telecommunications and electronic door control access systems designer and manufacturer Viscount Systems Inc. announces company income for the second quarter ended June 30 was $5,936, compared to a loss of $ 380,125 for 2002. Year-to-date company profit is $33,421, compared to a loss of $656,523 for 2002. Quarterly sales were $854,163 for 2003 and $860,277 for 2002. Year-to-date sales were $1,723,814, an increase of 10.4 percent compared to $1,561,031 reported in 2002.

“We are very happy with both our financial results and corporate development this quarter,” noted Stephen Pineau, president and CEO of Viscount. “Our goals were continued profitability and the completion of R&D projects. We also acquired the Enterphone service operations of Telus Corp. The recurring maintenance contract revenue will provide additional cash flow to continue meeting future goals and the large installation base of older systems will provide an additional market for MESH.

“The first MESH modules have recently been released and systems have been installed in both the U.S. and Canada. With the completion of the core MESH software, the company will now include additional modules to expand the access control, video and voice functions of the system.”

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