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ANV Security Group Inc. Reports First Quarter Results
May 31, 2011 (08:05 PM EDT)
SHENZHEN, China, May 31, 2011 /PRNewswire-Asia/ -- ANV Security Group Inc. (OTCBB: ANVS) announced financial and operating results for the three months ended March 31, 2011.
For the three months ended March 31, 2011, revenue was $4,919,525. Net loss for the period was $367,184. As a result of foreign currency translation adjustment, we benefited by $108,000, therefore our comprehensive loss decreased to $259,184, or $0.01 per basic and diluted shares. There is no comparable period for 2010.
Wilson (Weixing) Wang, ANV Security Group Chief Executive Officer stated, "We are very pleased with first quarter revenues, all of which were driven by the surveillance products and systems. We anticipate the surveillance and security product market in China to continue to expand. We believe the sales force we have, combined with the marketing initiatives we have implemented, will allow us to penetrate new customers."
"As we continue to focus on increasing sales and maintaining a high level of customer satisfaction, we increased inventory levels, all of which will provide our customers with product availability. Throughout the first quarter, my team and I spoke to many customers, including new customers, and I am pleased to announce the initial feedback was extremely positive. We continue to provide current customers with a wide assortment of products and services and penetrate new customers through our sales and marketing initiatives and referrals," concluded Mr. Wang.
ANV Security Group, Inc. and subsidiaries is specialized in new products research & development, software solution, technologies for network video surveillance and video alarm service platform. ANV Security Group, Inc. has developed products of IP camera and DVS, as well as NVR, DVR, CCTV camera etc. It has also developed the first auto video alarm platform in the world: www.usci8.com. This patent was officially approved by U.S. Patent and Trademark Office (USPT) on October 22, 2009 with patent number US2009/0265747A1. This platform performs instant notification to the owner via SMS, e-mail, telephone or cell-phone when an alarm is triggered worldwide in any time zone and captures the event images in video surveillance servers.
The Company's plan is to become a leading video surveillance equipment and solution provider in the world. Also, the Company, as the pioneer of VSaaS (Video-Surveillance-as-a-Service), offers a patent protected USCI8.com platform to meet a wide range of customer needs on internet based vide surveillance service.
On June 1, 2010, the Company completed the acquisition of 100% shares of Flybit international Ltd. Thereafter on September 30, 2010, another equity acquisition of Shenzhen Angesi Technology Co., Ltd was also closed. The two newly acquired wholly owned subsidiaries have substantially contributed the China operations to the Company with its strong research & development, equipped manufacturing facilities and effective marketing of video cameras throughout the Greater China.
Additional information is available at www.anvsecuritygroup.com
SOURCE ANV Security Group, Inc.