VDI Visual Defence

    RNS Number : 8184A
  Visual Defence Inc.
  06 August 2008
   
     Visual Defence Inc 
    ("Visual Defence" or the "Company")

    Trading Update - Six Months to June 30th, 2008

    RICHMOND HILL, ONTARIO - August 7, 2008 - Visual Defence, LSE:VDI, today announces an update on trading for the first six months of
2008.  

    The Company continued to execute its strategy of growth in key markets for enterprise size advanced security solutions in Europe, North
America, Africa and the Middle East. Of note during the first six months of 2008 the Company secured significant contracts with the
Norwegian State Railway ($1.5M CAD), Societe de transport de Montreal ($0.9M CAD) and Euromaint of Stockholm ($1.9M CAD) further enhancing
our reputation as a leading supplier of security solutions to the global Public Transit industry.

    Additionally the Company continues to hone its strategy and focus as earlier in 2008 announced the strategic decision to appoint Taldor
as its representative in Israel and close its local office.  

    The Company expects to report revenues for the first Six months of 2008 to June 30 2008 of approximately $9 million CAD, with an
operating loss of $2.5 million CAD. The cash position of the Company remains strong at approximately $10.6 million CAD and receivables are
expected to be approximately $8 million CAD. Gross margins are expected to improve in the period to 37% of sales.

    For the remainder of 2008 the Company will be impacted by decisions by three key customers to delay the delivery and implementation of
projects and solutions from 2008 to 2009. These delays will impact the full year results for 2008 and as a result the Company expects full
year (to December 31, 2008) revenue to $22 million CAD, with Operating Earnings below the Board's previous expectations. The Board expects,
however, that the cash and working capital positions at the year end will be largely unchanged from that as of June 30, 2008.

    Barry Tal, CEO for Visual Defence, Inc. said:

    "While we are disappointed with the impact the delays that these projects will have on our results for 2008, the projects will be
delivered in 2009.  

    "The Company's continued development of new technologies, including our Door Management System for credential management and IP access
control, should present further opportunities for 2009 and beyond."   


    Enquiries:

    
 Visual Defence Inc                                        +(1) 905 731 1254
 Barry (Oved) Tal, Chairman andChief Executive Officer                      
 Bill Watson,Chief Financial Officer                                        
                                                                            
 KBC Peel Hunt Ltd (Nominated Adviser and Broker)       +44 (0) 20 7418 8900
 David Anderson                                                             
 Oliver Stratton                                                            

    About Visual Defence

    Visual Defence prides itself on mastering the "Art of Integration" and providing customized solutions. The Company provides advanced
security solutions for leading government, airport, mass transit and commercial clients around the world. Leveraging 3C�, its proven
Security Management Software Platform, and suite of modular Integration, Video, VoIP Communication, and Situational Awareness applications,
Visual Defence delivers solutions that meet exact business objectives. Visual Defence turns functionality and interoperability requirements
into intelligent, scalable and easy-to-manage solutions that provide end-users with the security insight they need to improve operations and
effectively prevent and mitigate risk. Additional information about Visual Defence is available at: http://www.visualdefence.com



This information is provided by RNS
The company news service from the London Stock Exchange
 
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