HOUSTON, June 13, 2007 (PRIME NEWSWIRE) -- Security Financing Services, Inc. (Pink Sheets:SCYF), a provider of sophisticated, IP and physical security convergence solutions, is pleased to announce its financial results for the Twelve Months ended December 31, 2006. Year over year results were (revenue, asset and equity numbers are in 000's):
2005 2006 Incr (Decr)
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Revenue 647 2,751 425%
Total Assets 221 8,274 3,743%
Equity (622) 4,192 4,814%
Book Value per share $.0321
SCYF has previously confirmed it is on target to generate forecasted figures. The Company believes that its recent share price represents a good value in the market. Based upon the Company's 12-31-06 Balance Sheet, today's closing price is less than 53% of the Company's book value .
Mike Hardy, President and CEO of SCYF said, "We believe that the market has not yet recognized the true value of our company. In the coming weeks and months we will work diligently to communicate our vision to the investor community and to report our results in an accurate and timely way."
Security Financing Services, Inc. is a cutting-edge technology company focused on end-to-end network solutions for customers. Solutions range from the smallest homeowner to the largest government or commercial enterprise. In addition to providing financing services to alarm dealers and integrators, SCYF also operates and manages a portfolio of alarm monitoring accounts throughout Texas and the Southeast. SCYF designs, installs and monitors digital video surveillance networks for government, industrial and commercial application.
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.