Locateplus Hldg WT A (MM) (NASDAQ:LPLHW)
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LocatePLUS Posts Record Preliminary First Quarter Revenues of
$2.9 Million
-- Revenues Up 126% Year-over-Year; EBITDA Positive for the First Quarter --
BEVERLY, Mass., June 1 /PRNewswire-FirstCall/ -- LocatePLUS Holdings Corp.
(OTC Bulletin Board: LPLHA; LPLHB; LPLHW), an industry-leading provider of
business-to-business and business-to-government investigative solutions,
announced today its preliminary financial results for the three month period
ended March 31, 2005. The Company reported preliminary revenues of $2,898,677
for the first quarter of 2005, which represents an increase of 126% compared to
revenues of $1,284,976 reported in the first quarter of 2004 and 26% higher
than the $2,279,322 reported in the fourth quarter of 2004.
The Company also announced a preliminary EBITDA profit. Total assets as of
March 31, 2005 were $6,445,689 with total current assets of $2,842,500 and cash
and cash equivalents totaling $100,453. Current liabilities were $6,363,918 as
of March 31, 2005.
LocatePLUS CEO Jon Latorella stated, "The first quarter of 2005 marked a major
turning point of being EBITDA positive, and validates our ongoing business
strategy. Now that we have turned EBITDA positive, we will devote our
continued efforts to increasing our profit during the remainder of this year
with an acceleration to bottom line profit in 2006 and beyond."
About LocatePLUS
LocatePLUS and its subsidiaries are industry-leading providers of public
information and investigative solutions that are used in homeland security,
anti-terrorism and crime fighting initiatives. The Company's proprietary,
Internet-accessible database is marketed to business-to-business and business-
to-government sectors worldwide. LocatePLUS' online customer base exceeds
16,500 members, including over 2,000 law enforcement agencies and many major
police departments across the country. Clients include leading U.S. agencies,
including the FBI (Federal Bureau of Investigation), ATF (Bureau of Alcohol,
Tobacco, Firearms and Explosives) and DEA (Drug Enforcement Administration).
Channel partners include Loislaw, Earthlink, Imaging Automation, AssureTec,
Metro Risk Management LLC, and the nation's leading recruitment site. For more
information, visit the Company's Website at http://www.locateplus.com/. For
investor information, visit http://www.otcfn.com/lplha.
Safe Harbor Statement from LocatePLUS: Statements in this press release
concerning the Company's business outlook or future economic performance,
anticipated profitability, revenues, expenses or other financial items, and
network or service offering growth, together with other statements that are not
historical facts, are "forward-looking statements" as that term is defined
under the Federal Securities Laws. Any forward-looking statements are
estimates, reflecting the best judgment of the party making such statements
based upon currently available information and involve a number of risks and
uncertainties, including the timing of any expansion of the Company's database,
and other factors which could cause actual results to differ materially from
those stated in such statements. Risks, uncertainties and factors which could
affect the accuracy of such forward-looking statements are identified in the
public filings made by the Company with the Securities and Exchange Commission,
and forward-looking statements contained in this press release or in other
public statements of the Company should be considered in light of those
factors.
For more information, contact:
At LocatePLUS: Investor Relations:
James Fields Rick McCaffrey
LocatePLUS Holdings Corp. OTC Financial Network
978-921-2727 x124 781-444-6100 x625
DATASOURCE: LocatePLUS Holdings Corp.
CONTACT: James Fields of LocatePLUS Holdings Corp.,
+1-978-921-2727 ext. 124, ; or Rick McCaffrey of OTC
Financial Network, +1-781-444-6100 ext. 625,
Web site: http://www.locateplus.com/
http://www.otcfn.com/lplha