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Law Enforcement Associates Announces Fourth Quarter Year-End 2002 Earnings
Youngsville, NC, April 01, 2003 - Law Enforcement Associates Corporation (LENF: OTCBB), a surveillance and security technology company, today announced earnings per share for the year ended December 31, 2002 of $.036 per share compared with prior period earnings of $.029 per share. Revenues for the year-end December 31, 2002 were $5,950,680.
Revenue for the Company’s Under Vehicle Inspection System (UVIS) increased over $1,000,000 from the previous year. The UVIS provides a clear, high contrast real-time video inspection of the undercarriage of cars, vans and trucks at entry points in half the time of the standard inspection mirror search. The systems are currently installed in excess of 850 locations worldwide including military bases, government installations, embassies, nuclear facilities, oil refineries, and UN and NATO locations.
President, Paul Feldman stated, ”With the recent increased attention to security resulting from the threat of terrorist activities, we believe that we will be able to continue the trend in increased sales and revenues, especially with the Under Vehicle Inspection System. We anticipate steady growth in our surveillance technology sector and are currently preparing to introduce newly developed products to meet growing security demands.”
Significant events for 2002, included the Company declaring a dividend of $0.01 payable January 31, 2003 to shareholders of record as of December 20, 2002. Additionally, the Company commenced trading its common stock on the Over-the-Counter Bulletin Board (OTCBB) on February 13, 2003.
For full details please review the Company’s form 10K filing at:
http://www.sec.gov/Archives/edgar/data/1165921/000101376203000077/0001013762-03-000077.txt
About Law Enforcement Associates Corporation:
Law Enforcement Associates Corporation, based in North Carolina, through its wholly owned subsidiary, Law Enforcement Associates, Inc., manufactures and markets a diverse line of undercover surveillance and security products including a complete line of audio and video surveillance equipment as well as an under vehicle inspection system, which is one of the Company’s leading products.
For more information on the Company’s products view:
http://www.lea-sales.com/home.shtml or http://www.uvisystems.com/app.htm.
Investors: http://www.investorideas.com
Forward-Looking Information: The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including the inability to generate and secure the necessary product sale, or the lack of acceptance of the company’s products by its customers. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
Contact:
ECON Investor Relations, Inc. Toll Free at 1-866-730-1127
Dawn Van Zant via email dvanzant@investorideas.com
Trevor Ruehs via email truehs@investorideas.com
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