WEST CHESTER, Pa., Nov. 18, 2010 — ComCam International, Inc. (OTC Bulletin Board: CMCJ), an innovator in wireless "command and control" network security solutions, recently announced it’s financial results for the 3rd quarter of 2010.
Financial Highlights: Q3 2010
- Revenue of $1,028,863 up from $550,984 in Q2, 2010
- Gross margin improved to 33.7% from 11.3% in Q2, 2010.
- Positive EBITDA(1) of $326,617
- Cash balance increased to $728,451 up from $321,945 in Q2, 2010.
Third Quarter 2010 Financial Reviews:
Consolidated third quarter revenues were $1,028,863, an increase of $477,879 or 86% over second quarter. EBITDA realized significant improvements over Q2 while gross margins improved to 34% from 11% last quarter. Cash levels continue to improve with cash totaling $728,451 at the end of the quarter, up from $321,945 at the end of second quarter.
(1) Earnings before interest, taxes, depreciation and amortization ("EBITDA") is a non-GAAP financial measure. EBITDA is not an earnings measure recognized by GAAP and does not carry standard prescribed significance. Our method for calculating EBITDA may differ from that used by other companies that use the same designation and the reader is advised that EBITDA should not be substituted for determining net income as an indicator of operating results or as a substitute for cash flows from operating and investing activities.
About ComCam International
ComCam International ) develops network video command-and-control products and provides solutions and technical services to U.S. government agencies, Fortune 500 companies, research facilities, OEM, systems integrators and dealers worldwide. The company specializes in wireless IP, mobile, and wearable devices that are ideal for remote use in inhospitable environments.
Forward Looking Statements
A number of statements contained in this press release are forward-looking statements. A safe-harbor provision may not be applicable to the forward-looking statements made in this press release. These forward-looking statements involve a number of risks and uncertainties, including timely development, market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that ComCam may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. ComCam encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K and Form 10-Q. ComCam's public filings may be viewed at
Contact:
Pete Ianace
President
ComCam International, Inc.
Telephone: (972) 365.4848
Email: Email
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