SOURCE: Princeton Security Technologies, Inc.

February 17, 2012 11:55 ET

Princeton Security Technologies (OTCBB: PSGY) Announces Preliminary 4th Quarter Results for 2011

PRINCETON, NJ--(Marketwire - Feb 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 preliminary results for the 4th quarter of 2011 ending December 31, 2011.

PSGY expects to report revenue of approximately $1.3 million for the fourth quarter of fiscal year 2011, which represents an increase of approximately 37 percent from the revenue of $0.95 million for the same quarter ending December 31, 2010. The updated expected growth is consistent with the previously forecasted growth. The expected Revenue for the 12 month period ending December 31, 2011 is $4.15 Million, which represents an approximately 62% increase from 2010.

The Company anticipates reporting net income for the fourth quarter ending December 31, 2011, approximately $165,000 compared to net income of $135 000 for the same period ending December 31, 2010. The Company expects to report net income for the 12 month period ending December 31, 2011 of approximately $490,000, compared to a Net Profit of approximately $45 000 in 2010. The expected net income per share amounts to approximately $0.01 per share for the fourth quarter and $0.03 for the 12 month period in 2011.

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 Homeland Security, Nuclear Power, Environmental Protection and Scientific research field.

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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