NIHK Video River Networks Inc (PK)

Nighthawk Systems, Inc. (OTCBB: NIHK), a leading provider of intelligent wireless power management and emergency notification solutions, announced today that revenues for the first quarter of 2007 were $212,021 as compared to $141,387 in 2006, an improvement of 50%. Gross profit increased 102% from $42,575 in 2006 to $85,917 in the 2007 quarter, and selling, general and administrative expenses declined slightly from last year�s quarter to this year�s quarter. As a result, the net loss per share improved from ($0.02) per share in the first quarter of 2006 to ($0.01) in the first quarter of 2007. The Company also announced that orders received during the first quarter of 2007 exceeded $300,000, and that delays from parts vendors prevented quarterly results from being even more positive. H. Douglas Saathoff, Nighthawk�s CEO, commented, �I�m very pleased with the progress we�ve made since last year, and that improved top line results are filtering down through our operating results. Increased exposure of the Nighthawk brand has led to profitable opportunities with some larger companies like Verizon Wireless and DaimlerChrysler. With the release of our web-enabled gateway services coming soon, I think we�ll continue to make progress and enter into larger, more profitable deployments of our products.� 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.