Nighthawk Systems, Inc. (OTCBB: NIHK), a leading provider of intelligent wireless power management and emergency notification solutions, today discussed financial results expected to be included in the filing next month of its Form 10-QSB for the quarter ended March 31, 2007. Growth experienced in the latter stages of 2006 continued as the Company received orders in excess of $300,000 during the first quarter of 2007. As a result, the Company expects to report an increase in revenues over the first quarter of 2006 of approximately 49%. These improved results were largely driven by increased sales of custom logic boards for industrial applications to tier-one customers such as Verizon Wireless, as well as an increase in sales to electric utilities. The steady increase in sales of Nighthawk units throughout 2006 and into 2007 also resulted in an increase in recurring revenues from airtime sales of approximately 75% from the first quarter of 2006 to the first quarter of 2007, and enhanced gross profit margins as well. H. Douglas Saathoff, Nighthawk�s CEO commented, �We�re very pleased that 2007 has gotten off to a great start. I�m extremely pleased with the number of new customers that we�re bringing into the fold, and that exposure of our success is opening doors to new, more customized applications with some well known companies. These more specialized sales, combined with the incremental growth in sales of our traditional plug and play products, have not only added top line revenue growth for the Company, they�ve enhanced the profit margins and cash flows produced by the Company as well. We haven�t sacrificed margins to achieve this steady growth we�ve experienced.� About Nighthawk Systems, Inc. Nighthawk is a leading provider of intelligent wireless power control products that enable simultaneous activation or de-activation of multiple assets or systems on demand. Nighthawk's installed customer base includes major electric utilities, internet service providers and fire departments in over 40 states. Nighthawk's products also enable custom message display, making them ideal for use in traffic control and emergency notification situations. Individuals interested in Nighthawk Systems can sign up to receive email alerts by visiting the Company's website at www.nighthawksystems.com. Forward-looking statements Statements contained in this release, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, acceptance of new or existing businesses, capital resources and future business or financial results are "forward-looking" statements. You should not place undue reliance on these forward-looking statements. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, customer acceptance of our products, our ability to raise capital to fund our operations, our ability to develop and protect proprietary technology, government regulation, competition in our industry, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in our expectations, except as required by law.
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