HOUSTON, Feb. 14, 2006 (PRIMEZONE) -- Labwire Inc. (Pink Sheets:LBWR), a leading Employee Screening Solutions Provider, today announced revenues of $2.6 million dollars for its 2005 fiscal year. The company said the 2005 revenues are record figures in sales volume and revenues. Labwire's total income for 2005 is over eight times greater than the total revenue created the previous year and is its highest revenue level to date according to Dexter Morris, President of Labwire, Inc. In addition, Labwire announced that 2005 operations were profitable to the amount of $173,000, or 6.81% and were reached 6 months ahead of the company's original expectations. Final financial results for 2005 will be released later this week and will be made available at www.pinksheets.com under the company ticker symbol, Morris said.
"2005 was an excellent year for us and with current contracted work expanding this year, we expect to grow on this path with profitable operations," said Morris. "We anticipate 2006 as being an even better year for us with a substantial increase of revenues as our sales and marketing execution continues to improve while we steadily build on the solid relationships we have already established. Our company is very well positioned to take advantage of the growing demand from leading organizations everywhere who seek only the best employee screening services."
For corporate and product information please visit www.labwire.com.
About Labwire
Labwire Inc., Headquartered in Houston, TX, provides secure and compliant employee drug screening and background checking services to Fortune 500 corporations via the Labwire(tm) Platform. Labwire(tm) is a proprietary, web-based application that streamlines the complex regulatory and record management activities associated with employee screening, delivering accurate timely results while eliminating service calls and paper trails. This comprehensive solution to managing employee screening services is the most efficient and cost-effective platform in the industry.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.