SOURCE: View Systems, Inc.

View Systems, Inc.

March 29, 2011 09:00 ET

View Systems' Annual Report Shows Sales Up 22%, Costs Down 20%

BALTIMORE, MD--(Marketwire - March 29, 2011) - View Systems, Inc. (OTCBB: VSYM), posted its annual report this week, revealing increased revenues and decreased operating costs.
View Systems demonstrated a solid increase in product sales, resulting in increased revenues for the year ended December 31, 2010, compared to the year ended December 31, 2009. Cost of sales added up to approximately 29% of net revenues for 2010, as opposed to 49% of net revenues reported in 2009; a huge decrease of 20%. Cost of sales includes costs of products sold and shipping expenses. 

For 2010, the total operating expense decreased by $789,659, a reduction of 43% compared to 2009. Net income (loss) was ($513,353) in 2010 and ($1,560,012) in 2009; a tremendous improvement of $1,046,659.

Gunther Than, CEO of View Systems, states, "We have experienced an incremental increase in product sales and orders. Our backlog on contracts and requests for proposal has grown significantly and are beyond the totals for all of last year. The huge reduction of costs due to economies of scale is leading to not only increased revenues, but new markets previously inaccessible.

"As of December 31, 2010, our backlog of open orders was $265,000. Our indicated and response to requests for proposal was in excess of $730,000. We are experiencing new demand in our core target markets of schools. After-sales care, particularly unit upgrades, warranty contract renewals, and additional product sales continue to fuel our growth. The international market has showed a renewed interest, probably due to the political turbulence, and we have been negotiating larger unit orders. We have recently negotiated new orders coming from India and Saudi Arabia.

"We are progressing with our strategic decision of pursuing mergers and acquisitions utilizing our substantial tax asset, worth in excess of over $9 million."

About View Systems:
View Systems, Inc. manufactures and installs weapons detection identification systems, video management platforms and tele-data communication networks targeted towards correctional facilities, schools, courthouses, government agencies, event and sports venues, and commercial businesses. More information can be found on the website at

Forward-Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.

TO SIGN UP FOR VIEW'S NEWS SERVICE: Please email with NEWSLETTER in the subject line. Please include your name, telephone number and email address in the body of the email. You can also sign up by visiting our website at and clicking on the NEWSLETTER link. Signing up for this service will entitle you to receive a copy of each news release and bulletin via email.

Contact Information

  • Investors Contact:
    View Systems, Inc.
    Investor Relations
    Email Contact