SEA GIRT, N.J., Aug. 29, 2005 (PRIMEZONE) -- Digital Descriptor Systems, Inc. (Pink Sheets:DDSI), an industry leader that develops products for homeland security, including the supply chain and criminal justice markets, filed its 10QSB for the quarter ended June 30, 2005 this week.
Commenting on the results, DDSI CEO Anthony Shupin said, "We are right on track this quarter. Due to the consummation of the CGM subsidiary in the prior quarter, our revenues have increased 1,182 percent from the same three-month period last year." Shupin added, "Although our losses in the same period increased by 225 percent, we are optimistic that our current growth plan should help us to eliminate unnecessary expenditures and improve that number. DDSI incurred additional expenses due to the acquisition (interest, accounting and legal fees), upgrading the infrastructure and adding sales personnel, which are reflected in those numbers. We are optimistic that our plan to increase sales while carefully eliminating unnecessary expenditures will help us to improve that number."
CGM, acquired by DDSI in March 2005, is a leading manufacturer and distributor of Homeland Security products.
About Digital Descriptor Systems, Inc.
DDSI develops and markets integrated enterprise-wide image applications designed especially for criminal justice organizations. The company's customers include states, cities, counties, corrections, justice and public safety agencies. Digital Descriptor Systems, Inc. is headquartered in Sea Girt, N.J.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors associated with the company, review SEC filings.
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