TORONTO, Dec. 13, 2002 (PRIMEZONE) -- EdgeTech Services, Inc. (OTCBB:EDGH) is pleased to announce that revenue continues to grow during 2002 compared to the year earlier period. In the six months ending Oct. 31, 2002, Edgetech reports revenue of $656,830, an increase of 27% from the $515,557 during the same period in 2001.
"We are pleased with our results and progress this year," says Mr. Sang Ho Kim, President of Edgetech Services Inc. "We are now focused on maximizing operating efficiencies and revenue growth."
Mr. Tae Ho Kim, CEO of Edgetech Services Inc, said: "Edgetech Services Inc. has built a reputation as one of the nation's leading young security practices firms in part through our strong relationships with world-class solutions providers. This should only increase as we go into 2003 and we look forward to an outstanding year."
The Company reports a loss during the period of $252,544. Since October 31, 2002 steps have been taken to reduce or eliminate additional losses as soon as possible. In addition, the Company is aggressively building its security practices division through consultations with strategic partners and with existing and potential clients. These efforts are being undertaken in an effort to build significant additional revenue streams very early in calendar 2003.
About EdgeTech Services
Edgetech's primary business is IT Consulting covering the following areas: IT Security, Biometrics, Business Solutions, Systems Engineering, Software Development and Project management.
Edgetech is a Business Partner to Microsoft, IBM, Symantec, Counterpane and many others. Edgetech's clients include major government and private sector clients in Canada and the United States. Some of these clients include: IBM, Falconbridge, Bell Nexxia, Rogers Telecom and Province of Ontario. The Edgetech website is www.edgetechservices.com
Press Contacts:
For more information contact Tae Ho Kim, CEO 204-943-0803, or tkim@edgetechservices.com
This press release includes forward-looking statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Inherent risks and uncertainties could cause actual results to differ materially from the forward-looking statements. Such risks and uncertainties are described in the periodic reports the Company files with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.