LOS ANGELES, April 17, 2007 (PRIME NEWSWIRE) -- Universal Detection Technology (www.udetection.com) (OTCBB:UDTT) is pleased to announce today that its annual revenues for the year ending December 31, 2006 jumped to their highest level in five years at $111,515.00. In the previous year, the Company had no revenues from the sale of its devices. Furthermore due to increased revenue and significant cost-cutting measures, the loss per share decreased to $0.03 per share from $0.07 per share. The 2006 net loss was calculated on a weighted average of 86,650,120 shares outstanding. The revenue was derived primarily from the sale of Anthrax Detection Systems. The company now counts the United States Army, The British Government, and other defense firms as customers for its bioterrorism defense products.
"We are very pleased to have begun revenue recognition from the sale of our BSM-2000 anthrax detection systems for the first year since we began development of our anthrax monitors," stated Jacques Tizabi, CEO of Universal Detection Technology. "Having a record year like this one is a significant milestone for this company as we continue to market our counter-terrorism products and services."
BSM-2000 is UDTT's line of real-time bacterial spore detectors co-developed by NASA's Jet Propulsion Laboratory (JPL). The device is used to monitor the air continuously and to sound an alarm if elevated levels of spores such as anthrax are detected. UDTT holds an international exclusive license to the detection technology deployed in BSM-2000. The Company recently sold two units of BSM-2000 to the government of the U.K. and has begun marketing training videos related to emergency planning and preparedness and countering WMD threats.
The Company was recently featured on NBC News in a piece that can be viewed at http://www.udetection.com/pressroom-video-NBC1006.htm.
About Universal Detection Technology
Universal Detection Technology is a developer of monitoring technologies, including bio-terrorism detection devices. The Company on its own and with development partners is positioned to capitalize on opportunities related to Homeland Security. For example, the Company, in cooperation with NASA, has developed a bio-terror 'smoke' detector that detects certain biohazard substances. For more information, please click here or visit: http://www.udetection.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that involve known and unknown risks and uncertainties, which may cause the Company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.