Viscount Systems Reports Second Quarter 2015 Results

Sales from Flagship Product Increase Over 100 Percent

Vancouver, British Columbia--(Newsfile Corp. - August 24, 2015) - Viscount Systems Inc., (OTCQB: VSYS) ("Viscount"), a software company specializing in physical and logical security solutions, today announced its second quarter financial results for the three month period ending June 30, 2015.

"We were very pleased to announce that the second quarter of 2015 was the best in Viscount history, as we reported a 53% increase in total revenue compared to the same period last year," commented Scott Sieracki, CEO of Viscount Systems. "This favorable result was driven by steady progress across the board, with higher sales bookings reported for our Freedom, MESH and Enterphone products.

"We are making solid progress rolling out our next generation, access control and identity management solutions to our government partners while also implementing an aggressive sales strategy to create new opportunities and secure future sales for Viscount.

"Our continued financial discipline has also contributed to improved margins and remains a priority for us as we work to further validate our offering by educating the market on the unparalleled benefits of our product and securing additional sales agreements," concluded Mr. Sieracki.

Second Quarter 2015 Highlights:

  • Sales totaled $2.1 million for the second quarter of 2015 compared to $1.4 million in the first quarter of 2014, an increase of 53%.
  • Freedom sales totaled $1.2 million for the second quarter of 2015 compared to $568,553 in the second quarter of 2014, an increase of 113%.
  • MESH sales totaled $506,735 for the second quarter of 2015 compared to $475,621 in the second quarter of 2014, an increase of 7%.
  • Enterphone sales totaled $117,163 for the second quarter of 2015 compared to $77,797 in the second quarter of 2014, an increase of 51%.
  • Gross profit totaled $1.4 million for the second quarter of 2015 compared to $0.7 in the second quarter of 2014, an increase of 110%.

Sales totaled $2.1 million for the second quarter of 2015 compared to $1.4 million in the second quarter of 2014, an increase of 53.4% . Freedom sales for the second quarter of 2015 totaled $1.2 million compared to $568,553 in the second quarter of 2014, an increase of $641,475.07 or 112.8% . Freedom continues to comprise a growing percentage of Viscount's total sales, accounting for 58.2% of total sales in the second quarter of 2015 compared with 42.9% of total sales in the second quarter of 2014.

MESH sales totaled $506,734.58 for the second quarter of 2015 compared to $475,621 in the second quarter of 2014, an increase of 6.5% . MESH sales accounted for 24.4% of Viscount's total sales in the first quarter of 2015 compared with 35.1%, of total sales in the second quarter of 2014. Enterphone sales totaled $117,163.36 for the second quarter of 2015, a 50.6% increase from Enterphone sales of $77,797 in the second quarter of 2014. Service Division sales totaled $245,984.8 for the second quarter of 2015 compared to $234,193 in the second quarter of 2014, representing an increase of 5%.

Gross profit was $1.4 million for the second quarter of 2015 compared to $677,816 in the second quarter of 2014, an increase of 110.4%, primarily attributable to improved sales.

Cash as of June 30, 2015 was approximately $233,434, up from $190,308 as of December 31, 2014.

Conference Call:

Scott Sieracki, CEO of Viscount Systems, will hold a conference call on Monday, August 24, 2015 at 10:00am EST (7:00am PST) to discuss the results.

Join the meeting by following the procedures below.

1.

Please join the meeting by clicking on the following link: https://attendee.gotowebinar.com/register/4613703990863787265

   
2.

Join the conference call.

   
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  • Canada (Long distance): +1 (647) 497-9409

       
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  • United States: +1 (213) 929-4221

       
    3.

    Access Code: 865-552-641

       
    4.

    Audio PIN: Shown after joining the session

    Should you have questions during the event please send an email to questions@viscount.com.

    Additional Viscount Resources:
    Freedom Access Control
    White Paper: Rethink Access Control
    Viscount Company Overview

    About Viscount

    Viscount is the leading provider of next generation, IT-centric access control and identity management applications. Viscount's Freedom application platform allows seamless unification of the physical and digital security worlds by replacing discrete, self-contained systems with an integrated security system that is sophisticated enough to protect today's critical business assets, and flexible enough to keep up with the evolving IT infrastructures of government and private organizations. For more information please visit: www.viscount.com

    Safe Harbor Statement

    Forward looking statements: This press release and other statements by Viscount Systems, Inc. may contain forward-looking statements with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "position," "assume," "potential," "outlook," "continue," "remain," "maintain," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," or similar expressions.

    Contact

    Allison Monat / Elizabeth Barker
    viscount@kcsa.com
    212-682-6300

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