SOURCE: Labwire, Inc.

June 13, 2006 09:00 ET

Labwire May Revenue Up 63 Percent

Labwire Reports Corrected April 2006 Revenue Resulting in a 49 Percent Increase Over April 2005

HOUSTON, TX -- (MARKET WIRE) -- June 13, 2006 -- Labwire, Inc. (PINKSHEETS: LBWR), a leading provider of employee screening solutions and canine security and surveillance services, announced today that revenue in May 2006 was $307,772, an increase of $118,977 or 63% over May 2005 results. In addition and for the five months ended May 31, 2006, the Company's revenue was $1,651,324 compared to $833,902 for the five months ended May 31, 2005. This represents an increase of $817,422 or approximately 98%.

"We continue to experience significant revenue growth, particularly from our employee screening solutions," commented Mr. Dexter Morris, Chief Executive Officer of Labwire, Inc. "I am proud of everybody in our organization and our growth is a result of all of their hard work and long hours. Everybody who works at Labwire is one hundred percent committed to our mission, which is 'Great Service… Period!'"

Labwire's results for the five months ended May 31, 2006 reflect and include April 2006 revenue of $286,512, an increase of $93,827 or 49% over April 2005 results. April 2006 revenue, as stated here, corrects and replaces April 2006 results previously announced in a press release dated June 7, 2006.

About Labwire, Inc.

Labwire, Inc. is headquartered in Houston, Texas and provides secure and compliant employee drug screening and background checking services to Fortune 500 corporations via the Labwire™ Platform. Labwire™ is a proprietary, Web-based application that streamlines the complex regulatory and record management activities associated with employee screening, delivering accurate timely results while eliminating service calls and paper trails. This comprehensive solution to managing employee screening services is the most efficient and cost-effective platform in the industry. For additional information about Labwire, Inc., please visit www.labwire.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Contact Information

  • Contact:
    S.D. Torrey Hills Capital, Inc.
    James Macdonald
    Investor Relations
    (858) 456-7300