HOUSTON, Jan. 17, 2006 (PRIMEZONE) -- Labwire Inc. (Pink Sheets:LBWR), a leading Employee Screening Solutions Provider, today announced continued revenue growth during the fourth quarter of 2005. The Company continued its record breaking pace, billing the largest revenue amount in its history during the month of November. Additionally, Labwire expects the fourth quarter of 2005 to generate more revenue than any previous fourth quarter in the Company's history, generating significant testing volumes despite seasonal fluctuations that typically decrease activity during this quarter.
"The success we achieved this year was significant and we anticipate even greater success and growth in the future. Several milestones that we expected to achieve in 2006 have actually been reached in 2005. We have now begun the process of interviewing SEC Compliant accountants with the intention of becoming a fully-reporting company in 2006," stated Dexter Morris, President of Labwire, Inc. "Labwire hopes to grow its annual revenue by 20% -50% in '06 and continue to establish itself as a leader in the employee screening services industry by utilizing innovative technology and demonstrating the highest levels of customer service with the lowest transactions charges. Additionally, we hope to add a number of security personnel in our surveillance units to accommodate for an anticipated increase in projects for this division," continued Morris.
Morris also said the company will announce its choice of accountants for an audit in order to become fully-reporting within the next few weeks. No timetable has been set as to if or when Labwire will choose to go to another exchange.
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.