Bullzi Security Releases 3rd Quarter 2010 Financials
12 November 2010 - 3:00AM
Marketwired
Bullzi Security Inc. (PINKSHEETS: BLLZ), a leading security
consulting and education provider releases its 3Q10 financials.
Bullzi Security closed the first nine months of 2010 with
$669,067 in revenue, which represents a 45% increase over the same
period last year. More importantly, Net Income for this period was
$30,306, as compared to a loss of $130,240 for the same period in
2009. While the economy has hampered some of the company's sales
efforts, sound cost controls have allowed Bullzi to increase
overall earnings.
According to Thomas Welch, co-founder and CEO of Bullzi
Security, "A large portion of our 3rd quarter revenue was from
NERC-based security consulting projects and computer forensics
engagements. Our education product, WISE, attributed to 42% of the
2010 revenue thus far. This number is expected to increase in the
4th quarter of 2010, as we have a number of proposals and quotes on
the street, in which we have an excellent chance of winning. Based
on current sales efforts, we're hoping to hit the $1M revenue mark
for the year. Earnings should also increase significantly, as our
core education products are completely developed and fully
expensed."
Mr. Welch went on to say, "Regulatory programs are still the
primary driver for overall sales in 2010 and beyond, especially the
NERC CIP regulation. This includes past regulatory standards, such
as Sarbanes-Oxley (SOX), Gramm-Leech-Bliley Act (GLBA), Health
Insurance Portability and Accountability Act (HIPAA), the Payment
Card Industry Data Security Standard (PCI DSS) and the Red Flag
Rule and Chemical Facility Anti-Terrorism Standards (CFATS). Bullzi
currently offers consulting services and education programs that
address all of these standards."
Mr. Welch closed by saying, "We continue to enhance our
education product line by adding new content on a monthly basis and
our products are not limited to US-based clients. Bullzi has a
product line that is needed throughout the world and as reported in
a recent press release, we already support a number of foreign
languages and worldwide roll-outs. We have also entered into two
new partnerships that will give us greater market penetration on a
worldwide basis. Finally, we will be releasing our first
consumer-based security training product within the next 6 weeks.
We expect this to have a tremendous impact on our revenue stream in
2011."
Bullzi Security is Strong, Stable and
Secure!
About Bullzi Security Inc.
Bullzi Security is a leader in providing 'converged' security
solutions. Through its consulting services and integrated delivery
systems, Bullzi Security helps to minimize threats to its clients'
assets, facilities, personnel and information systems. As a full
service security firm, Bullzi Security offers compliance programs,
information security services, physical security solutions,
security education programs, document security and investigative
services. Bullzi Security brings a unique set of skills and
experience to ensure that its clients receive the most
comprehensive, cost-effective security services available. The
Bullzi Security trading symbol is (PINKSHEETS: BLLZ).
CONTACT: Michael Welch Bullzi Security, Inc. 1-866-930-3840
mdwelch@bullzisecurity.com www.bullzisecurity.com
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