SOURCE: Somerset International Group, Inc.

May 16, 2007 12:18 ET

Somerset International Reports Record First Quarter Results

BEDMINSTER, NJ -- (MARKET WIRE) -- May 16, 2007 -- Somerset International Group, Inc. (OTCBB: SOSI) announced today that for its first quarter ended March 31, 2007, it reported a net loss of $233,574, or $0.03 per share, on revenue of $640,362, as compared to a net loss of $509,871, or $0.09 per share, on revenue of $345,317 in the first quarter of fiscal 2006. Gross Margin for the three months ended March 31, 2007 increased to $338,549 and 52.9% of revenue, from a gross margin of $78,043 and 22.6% of revenue during the three months ended March 31, 2006. This was a direct result of the increase in revenues offset by an increase in the cost of goods sold.

John X. Adiletta, President, said, "During the March 2007 quarter, we experienced increased volume with our existing clients at Secure System, Inc. During the quarter, we increased the number of people covered by our Personal Alarm Locators by 1,070 to 24,166 from 23,096 at the end of 2006.

"As we know, recent events in our country have created an increased awareness of security requirements at institutions of higher learning. For the last twelve years, Somerset's subsidiary, Secure System, Inc. has been actively involved in security-related solutions which provide a wireless product for incident prevention. The system works by providing an individual with a wireless personal alarm locater with which they can silently summon help and be located by the pressing of a button. Presently many schools, institutions of higher learning and corporations are actively reviewing their security infrastructure as it relates to prevention, response, and reporting and we believe there will be a major shift in funding for these products and services. Secure System is on the forefront of prevention services and we believe that this will be a major part of our business in the future."

About Somerset International Group, Inc.

Somerset International Group, Inc. (http://www.somersetinternational.com) finds undervalued technology investments aligned around the exponential growth in concern and demand for security and the acquisition of profitable and near term profitable private small and medium-sized businesses that provide proprietary security products and solutions for people and enterprises -- from personal safety to information security. Somerset International Group, Inc., formerly known as ORS Automation, Inc., was incorporated in 1968 and is based in Bedminster, New Jersey.

About Secure System, Inc.

Secure System, Inc. (http://www.securesysteminc.com) provides personal alarm systems, wireless transmitters and receivers, and personal alarm locators. The company currently serves colleges and universities and medical and mental health facilities. Its products are also easily adaptable for office campuses, residential facilities, and correctional facilities. The system works by providing an individual with a wireless personal alarm locater with which they can summon help and be located by the pressing of a button.

Statements about our future expectations are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. When used herein, the words "may," "will," "should," "anticipate," "believe," "appear," "intend," "plan," "expect," "estimate," "approximate," and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties inherent in our business, including those set forth under the caption "Risk Factors" in our most recent Registration Statement on Form SB-2 dated December 6, 2006 filed with the SEC and other filings with the SEC, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.

Contact Information

  • Contact:
    Somerset International Group, Inc.
    John X. Adiletta
    908-719-8909