HOUSTON, Oct. 26, 2005 (PRIMEZONE) -- Labwire Inc. (Pink Sheets:LBWR), a leading Employee Screening Solutions Provider, is pleased to announce that the Company's President, Dexter Morris, conducted an investor presentation at the Crowne Plaza in Houston, TX this morning, October 26, 2005. Mr. Morris presented to a group of Houston-based institutional and accredited investors.
The investor presentation provided an overview of Labwire's service offerings which include the Company's leading edge electronic platform that delivers the most efficient and cost effective solution in the employee screening industry and auxiliary canine surveillance services. Select financial highlights of the Company that were presented during the presentation include:
-- Labwire is in the top 10 in revenue out of 700 +/- vendors in the
industry
-- Labwire has a Revenue/Employee ratio of $700k/employee compared to
the industry average of $200k/employee
-- Public Company Competitors are currently valued at 2.8 to 3.7 times
revenue
-- The Company projects achieving $50 million in 3 years with 30%
EBITDA
Dexter Morris, President and CEO of Labwire, commented, "I am pleased to have the opportunity to speak about the substantial success that Labwire has experienced in such a short time and how we plan to continue and build upon this success going forward. We believe that from an investor's perspective, Labwire presents a very attractive investment opportunity at its current valuation given our revenue estimates and the trading multiples of our peers. Additionally, Labwire is poised for organic growth in the coming years, achieving high profit margins because of the efficiency of both our Platform and business model."
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 Platform. Labwire 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.