SOURCE: Electronic Control Security, Inc.

Electronic Control Security, Inc.

April 04, 2011 09:00 ET

Electronic Control Security, Inc. Obtains Bank Credit Line and Is Awarded New Defense Department Subcontract

CLIFTON, NJ--(Marketwire - April 4, 2011) - Electronic Control Security, Inc. (OTCBB: EKCS) (ECSI), a global leader in entry control and perimeter security solutions, today announced that it had established a revolving line of credit on most favorable terms. The Company has also been awarded a new multi-million dollar, five-year subcontract for the Department of Defense.

Arthur Barchenko, President and CEO of ECSI, said, "This bank line of credit complements the Company's other financing arrangements announced previously in support of our projected growth requirements in the years ahead. The revolving line of credit allows the Company to maximize its cash flow on an as-needed basis for both current and long-term projects. We filed a Form 8-K regarding this transaction on March 30th."

Further, "ECSI was awarded a new multi-million dollar five-year ID/IQ (indefinite delivery/indefinite quantity) subcontract for Defense Department support services in the U.S. and overseas. It is on projects such as this where the Company's operations will be facilitated by the availability of the recently-announced financial facilities and the new revolving line of credit." Mr. Barchenko also stated that ECSI has earned a leadership position in the infrastructure security market both in the U.S. and in certain overseas countries. 

About ECSI

ECSI is a global leader in perimeter security and a quality provider to the Department of Defense, Department of Energy, nuclear power stations, and other large commercial-industrial complexes. The Company designs, manufactures and markets physical electronic security systems for high profile, high threat environments utilizing risk assessment and analysis to determine and address the security needs of its customers. Teaming agreements with major system integrators enable ECSI to support the installation and aftermarket of its products in the U.S. and overseas. ECSI is located at 790 Bloomfield Avenue, Bldg. C-1, Clifton, NJ 07012. Tel: 973-574-8555; Fax: 973-574-8562. For more information on ECSI and its customers, please visit http://www.ecsiinternational.com.

ECSI INTERNATIONAL, INC. SAFE HARBOR STATEMENT: This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to changes in economic conditions generally and in our industry specifically, changes in security technology, legislative or regulatory changes that affect us, the availability of working capital, timing of purchase orders, acceptance of company proposals, changes in costs and the availability of goods and services, the introduction of competing products, changes in our operating strategy or development plans, our ability to attract and retain qualified personnel, changes in our acquisition and capital expenditure plans, sufficiency of cash reserves and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1 of our Annual Report on Form 10-K for the fiscal year ended June 30, 2010 and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.

Contact Information

  • For contact:
    Natalie Schneider
    973-574-8555