SOURCE: Princeton Security Technologies, Inc.

May 17, 2012 10:04 ET

Princeton Security Technologies (OTC-BB: PSGY) Announces Q1 Results for 2012

PRINCETON, NJ--(Marketwire - May 17, 2012) - Princeton Security Technologies, Inc. (OTCBB: PSGY), a leading supplier of X-ray and Gamma-ray Detectors, Spectroscopy systems and Radioactive Isotope Identifier Devices (RIID) through its wholly-owned subsidiary Princeton Gamma-Tech Instruments Inc. (PGT), announced first quarter results for the quarter ending March 31, 2012.

PSGY's sales for the first quarter in 2012 grew by 74 percent to over $1.5 Million from the approximate $870,000 for the same period in 2011. This sales growth caused increased Gross Profit amounting to more than $855,000 for Q1. The Gross Profit in the first quarter was 86 percent more than the approximate $459,000 from the previous year.

The net profit consequently increased by 38 percent to $241,391 and the net profit per share of common stock also increased to $.02 for the quarter ending March 31, 2012.

The company expects continued growth as the demand for Radioactive Isotope Identifier products increases.

About Princeton Security Technologies Inc.:
Princeton Security Technologies, through its wholly owned subsidiary, Princeton Gamma-Tech Instruments, Inc (PGT), is a supplier of X-ray and Gamma-ray Detectors and Spectroscopy systems, and Radioactive Radioisotope Identifier products. The Company serves a broad customer base in scientific research, industrial materials analysis, and Homeland Security.

Princeton Gamma Tech Instruments has brought leadership and technical innovation to the semiconductor gamma and X-ray detection field for over 35 years. Recent accomplishments include a state-of-the-art isotope identification technology for fixed and portable applications and a scalable software control application for the rapid deployment of multiple sensors. The corporation markets its off the shelf products and services directly, as well as via a distributor network domestically and internationally.

Further information regarding both companies can be found at www.PGT.com.

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

Contact Information

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    Trupti Mehta
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