VIENNA, Va., Nov. 24, 2003 (PRIMEZONE) -- MSSI-TeleScience International Inc., (OTCBB:MSSI), a provider of medical personnel, homeland security and technology services to federal, state and local government agencies, announced today unaudited revenues of $6.8 million for the first nine months of 2003 compared to revenues of $4.5 million for the same period of 2002, representing a 51% increase. Unaudited revenues for the 12 months ended 2002 were $6.4 million and the Company is projecting between $8 and $10 million for the twelve months ending December 31, 2003. The Company anticipates filing its 8K by December 15, 2003.
"We have demonstrated a solid growth trend in revenues for the past two years" said Dr. B.B. Sahay, President and CEO. "With the retention and expansion of our existing contracts and additional revenues expected from the homeland security and technology services areas over the next twelve months, we are anticipating revenue growth for the foreseeable future. We are well positioned to take advantage of this growth as a public company and expect to add new contracts each year. We also have a plan for acquisitions that should begin to materialize over the next six months as we continue to pursue opportunities in the home health care and homeland security areas. We are currently in negotiations with several companies for acquisition and will continue to seek out prospects for the future."
About the Company
MSSI-TeleScience International is a provider of medical personnel, homeland security and technology services to federal, state and local government agencies. The Company's Medical Services Division has operations in 24 states servicing hospital and medical facilities with doctors, nurses and technicians. It has long term contracts with the U.S Army, the Department of Health and Human Services, and the State of California to mention a few. Its Technology Division provides systems integration and information technology services to the federal government as well as emergency equipment decontamination products, vehicles, and supplies to state and local governments. The company has been named as a participant in a $1 billion IDIQ contract with the State of Pennsylvania. The Company currently has over 200 employees and continues to grow its staff and contracts.
For information, visit the website at www.mssi-intl.com. Shareholders can log onto the shareholder registration form on the Company website to be placed on the mailing list for future information. The Company headquarters is located at 8150 Leesburg Pike, Suite 1200, Vienna VA 22182.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. TeleScience disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.