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Suspect Detection Systems, Inc. (SDSS) Reports Record First Quarter Revenues

May 16, 2011 2:43 PM ET1 Comment
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Suspect Detection Systems, Inc. is a developer of proprietary counter-terrorism and crime prevention technology. The company’s technology is designed to identify threats in real-time and prevent incidents before they are carried out. This technology detects the hidden “hostile intent” before the act is committed and it can also be used after a crime to quickly identify criminals from among the general population.

The company announced today that, in the first quarter of 2011, it broke its existing record for revenues in a quarterly period. Revenues and gross profits both grew sharply in the first quarter of 2011 as compared to the same quarter in 2010. Highlights from Suspect Detection Systems’ latest financial statement are as follows:

• Total revenues for the past two years have now exceeded $4 million.
• Revenues grew to $1.6 million in the first quarter of 2011 from $600,000 last year.
• Gross profits rose to $1.4 million in the first quarter of 2011 from $600,000 last year.

During the past quarter, Suspect Detection Systems owes much of its success to the completion of a major sale to a governmental agency. The additional good news for the company is that follow-up sales with this particular agency are likely to be completed in the coming months.

The CEO of the company, Gil Boosidan, spoke about the positive results and its future, “The financial statement released clearly demonstrates that Suspect Detection Systems is a company moving in the right direction. We are actively working to take the company to the next level of full commercialization during the remainder of 2011.”

For more information on Suspect Detection Systems and its Cognito automated interrogation system, please visit the company’s website at sdss-corp.com

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