LOS ANGELES, April 21, 2009 (GLOBE NEWSWIRE) -- Universal Detection Technology (www.udetection.com) (OTCBB:UNDT), a developer of early-warning monitoring technologies to protect people from bioterrorism and other infectious health threats and provider of counter-terrorism consulting and training services, announced more than 11,000% increase in revenues over the previous year. The full financial results are available in the Company's publicly available annual report.
The Company reported that during 2008, revenues from sales of products and services reached over $100,000.00.
The Company had significant sales of its biological detection kits to both domestic and international clients. One of the major orders for the Company's handheld assays was from the Washington D.C. Fire and Emergency Services. The Company also had increased the sale of its radiological and nuclear detection devices to both domestic and international customers, including orders for the Beijing Olympics.
"2008 was a breakout year for us as far as revenue. Additionally, the Company undertook significant cost saving measures which attributed to our net loss being under the previous years by over $1.2 Million," said Mr. Jacques Tizabi, UNDT's Chief Executive Officer. "We hope that the momentum that we have built will carry into the future and that our sales will grow as we continue to market our products and our solutions," he added.
UNDT is a supplier of services and technologies used for early detection of Chemical, Biological, Radiological, and Nuclear (CBRN) threats. The Company's BSM-2000 combines a bioaerosol capture device with a simple and robust chemical test for bacterial spores that is completely automated. The Company proposes the use of BSM-2000 as a front-end monitor to the Biohazard Detection System (BDS) or any other Secondary monitor with the promise of drastically reducing the recurring operating costs for anthrax screening at postal facilities and any other facility where bio-terrorism is of concern.
For more information please visit our website at www.udetection.com or
Email us at info@udetection.com.
About Universal Detection Technology
Universal Detection Technology is a developer of monitoring technologies, including bioterrorism 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 bio hazard substances. For more information, please visit http://www.udetection.com.
The Universal Detection Technology logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4911
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.