SOURCE: Bullzi Security Inc.

February 23, 2011 10:35 ET

Bullzi Security Releases 2010 Year-End Financials

ALTAMONTE SPRINGS, FL--(Marketwire - February 23, 2011) - Bullzi Security Inc. (PINKSHEETS: BLLZ), a leading security consulting and education provider, releases its 2010 year-end financials.

Bullzi Security closed the year (2010) with $ 869,118 in revenue, which represents a 14% increase over the same period last year. More importantly, Net Income for this period was $76,042, as compared to a loss of $29,155 for the same period in 2009. 

According to Thomas Welch, co-founder and CEO of Bullzi Security, "The majority of the consulting work in 2010 was related to NERC CIP compliance and computer forensics projects. During the 12 month period ending December 31, 2010, consulting sales were $466,633, which was up $431,014 from $35,619 for sales from the same period in 2009. Our education product, WISE, attributed to 46% of the 2010 revenue. This includes new WISE clients, such as Alliance Pipeline, Advance America and Rogers Communication."

Mr. Welch went on to say, "In addition to our standard security education offering, Bullzi has begun to develop courseware outside of Information Security to open up new channel sales. Bullzi has started to market its Medicare Training course initially developed for the State of New Jersey to other states and has gotten an excellent response. Bullzi also closed another large on-line training project in December with the Orlando Utilities Commission (OUC). This is a multi-year project in which Bullzi will be creating a comprehensive Line Technician Training Curriculum. With the recurring revenue from annual license renewals and the OUC contract, Bullzi will be starting 2011 with approximately $600,000 in backlog revenue."

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About Bullzi Security Inc.

Bullzi Security is a leader in providing 'converged' security solutions. Through its consulting services and integrated delivery systems, Bullzi Security helps to minimize threats to its clients' assets, facilities, personnel and information systems. As a full service security firm, Bullzi Security offers compliance programs, information security services, physical security solutions, security education programs, document security and investigative services. Bullzi Security brings a unique set of skills and experience to ensure that its clients receive the most comprehensive, cost-effective security services available. The Bullzi Security trading symbol is (BLLZ.pk).

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