REDONDO BEACH, Calif., Jan. 24, 2005 (PRIMEZONE) -- CorpHQ Inc. (Pink Sheets:COHQ) today announced that its portfolio company, Safeguard Technology has already posted record monthly revenues during the month of January, 2005. Operating through its Moore Protection unit, Safeguard is a residential security specialist, providing world-class installation and monitoring services to elite class residential clientele in the Southern California area.
According to Robert Perea, Safeguard's President, "Throughout 2004, Moore Protection experienced a steady upward trend in its revenue growth, and while we took a slight dip at the end of the year, have started the new year strong by achieving record sales. We think this is indicative of continued market share growth throughout 2005 for our Moore Protection unit."
"CorpHQ has set mandates for each of its portfolio companies to reach and sustain profitability in 2005," added Steve Crane, CEO of CorpHQ, Safeguard Technology's majority shareholder and business incubator. "Safeguard is demonstrating its ability to achieve solid revenue growth and we look forward to supporting Safeguard's continued success."
In regards to the long-term growth of Safeguard, Mr. Crane commented, "We have been working very closely with management to determine the best strategy for moving the company forward in 2005. We have developed a clear plan for Safeguard and look forward to management achieving these objectives."
About Safeguard Technology
Safeguard Technology International, Inc. aggregates and markets innovative technology-based security solutions. The company is actively engaged in the commercialization of advanced security platforms for commercial and consumer clients. Safeguard's strategy is to grow both organically and through strategic acquisitions of companies that span the landscape of surveillance, detection and identification. Moore Protection is a division of Safeguard which specializes in installing, servicing and monitoring security systems with a focus on the high-end residential market.
About CorpHQ, Inc.
CorpHQ Inc. is a business incubator and holding company that enables startup and emerging companies throughout the world, realize and achieve their full potential by organizing, investing in, and providing comprehensive management support and business resources. CorpHQ acquires interests in, and provides consultation to, high-potential companies that are synergistic with its portfolio companies.
CorpHQ provides periodic Voluntary Financial Reports on its operations at http://www.pinksheets.com/quote/finance.jsp?symbol=COHQ.
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain "forward-looking statements" as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
This press release is available at www.corphq.com and http://www.pinksheets.com/quote/quote.jsp?symbol=COHQ.