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ICDG Icop Digital (MM)

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Share Name Share Symbol Market Type
Icop Digital (MM) NASDAQ:ICDG NASDAQ Common Stock
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ICOP Digital Reports Second Quarter Revenue Growth and New International Distributors

15/08/2005 2:00pm

Business Wire


Icop Digital (NASDAQ:ICDG)
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ICOP Digital, Inc. (Nasdaq:ICDG)(PCX:ICDG), a leading provider of digital in-car video systems for law enforcement, today reported financial results for the second quarter and six months ended June 30, 2005. ICOP Digital, Inc. delivered the ICOP Model 20/20(TM) digital in-car video system to twenty law enforcement agencies in the second quarter of 2005, which reflects the first shipments of full production product by the company. Total revenue for the second quarter of 2005 was a $327,000 increase over 2004 second quarter revenue of $0. Loss from operations for the second quarter of 2005 was approximately $589,000, compared to a loss from operations of $522,000 for the 2004 second quarter. Net loss for the second quarter of 2005 was $700,000, or a loss of $ .42 per share, compared to a net loss of $37,000, or a loss of $ .02 per share, for the second quarter of 2004. The loss in the second quarter of 2004 was reduced by $485,000 ($ .31 per share) by a renegotiation and reduction of trade debt. As a part of ICOP Digital's strategy to expand sales, ICOP is growing its national Sales Team and has begun selectively signing on distributors for the ICOP Model 20/20(TM) across the U.S. and around the globe. ICOP recently completed a distribution agreement with a prestigious company in the Middle East, who will represent the ICOP Model 20/20(TM) in nine countries. Shipments have already been made to this region for sales to law enforcement, the military and public transportation. ICOP Digital has also concluded a distribution agreement with a security products distributor in Southeast Asia. David Owen, President and CEO of ICOP Digital, Inc., stated, "We are pleased with our progress in the second quarter, and we are encouraged by the strong demand for our unit in the U.S and abroad. The recent tragic events in London underscore the value of surveillance video in gathering evidence and solving crimes. We continue to vigorously pursue additional sales that we believe will facilitate our business growth and profitability." The ICOP Digital 10Q is available at www.ICOPdigital.com. About ICOP Digital, Inc. ICOP Digital, Inc. (Nasdaq:ICDG)(PCX:ICDG) is a Kansas-based company that delivers innovative mission-critical security, surveillance, and communications solutions that provide timely and accurate information for security for the public and private sectors, to monitor and protect people, assets, and profits. The ICOP Model 20/20(TM) is the leading digital in-car video recorder system, for use by law enforcement. ICOP Digital is committed to providing surveillance and communications solutions that help our customers improve their safety and security, through effective deployments of innovative technologies. ICOP Digital is dual listed on the NASDAQ SmallCap market and the PCX, and the common stock and warrants trade under the ticker symbols "ICDG" and "ICDGW", respectively. www.ICOPdigital.com Safe Harbor Statement This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.

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