banner

Electronic Control Security Lands Prime Government Contract

Shares of Electronic Control Security, Inc. (OTCBB: EKCS) have soared ahead in Friday morning trading after the company said that it has received a prime contract award from the Department of the Navy, Space and Naval Warfare Systems Center Atlantic (SPAWAR).

The Clifton, New Jersey-based provider of integrated entry control and perimeter security systems said that the contract ceiling is for $249.59 million, comprised of a base year period of performance and four one-year options, spread across 13 awardees. According to Electronic Control Security’s president and CEO Arthur Barchenko, the company expects to capture at least 10 percent of the task orders in the contract.

“We are looking forward to establishing a presence in Charleston, [South Carolina] and developing a strong working relationship with our partners and the customer,” added Barchenko.

The full scope of the new contract covers the entire spectrum of non-inherently governmental services and solutions (equipment and services) associated with the full system lifecycle support.



February is proving a fruitful month for ECSI coffers. On the 8th of the month, the company reported international sales through the receipt of a series of purchase orders valued at $1.6 million to supply security equipment for the Kingdom of Saudi Arabia’s Frontier Forces.

The company, which specializes in high-profile, high-threat environments, also said that additional proposals have been submitted for product and services in Saudi Arabia to meet upgrade mandates by the Ministry of Defense, Ministry of Interior and oil and gas facilities.

The large contracts would be a shot in the arm to the balance sheet. In the company’s latest SEC filings, unaudited revenue for the six-month period ended was $854,178, down from $1.67 million in the comparable period in 2011. In the October through December quarter of 2012, revenue was $422,104 versus $552,569 for the same quarter the year earlier.

On the upside, the net loss was pared from 3 cents per share to 1 cent per share for the six-month period and from 4 cents per share to 1 cent per share for the latest quarter as compared to the year prior periods, largely because of a 43 percent reduction in SG&A expenses.

The company still has a clean share structure with only 13.9 million shares outstanding as on February 8, 2013. Should expenses be controlled, the company could potentially manage to swing to a profit in upcoming quarters, providing a boon to its tiny $2.43 million market cap.

Of course that valuation got a big boost to its current level with a jump of more than 110 percent today on the news. Shares closed Thursday’s session at 8.3 cents, but have risen to 17.5 cents Friday morning on light volume of 35,800 shares.

As of 12:15 PM ET, the bid stands at 11 cents and the ask is 17.5 cents.

Electronic Control Security (EKCS) Stock Quote and News:







Disclaimer: Neither www.otcshowcase.com nor its officers, directors, partners, employees or anyone involved in the publication of the website or newsletters (“us” or “we”) is a registered investment adviser or licensed broker-dealer in any jurisdiction whatsoever. Further, we are not qualified to provide any investment advice and we make no recommendation to purchase or sell any securities. The prior article is published as information only for our readers. otcshowcase.com is a third party publisher of news and research. Our site does not make recommendations, but offers information portals to research news, articles, stock lists and recent research. Nothing on our site should be construed as an offer or solicitation to buy or sell products or securities. This site is sometimes compensated by featured companies, news submissions and online advertising. Viper Enterprises, LLC (parent company of OTC Showcase) has received no compensation for this article from and owns no shares of the aforementioned company(ies). Please read and fully understand our entire disclaimer at http://www.otcshowcase.com/about-2/disclaimer.

0 comments

Add your comment

Commenting is allowed only for registered users.

Other articlesgo to homepage

Sunshine Biopharma Meeting with CMOs to Manufacture Drug for Breast Cancer Trials

Sunshine Biopharma Meeting with CMOs to Manufacture Drug for Breast Cancer Trials(0)

Sunshine Biopharma Inc. (OTCQB: SBFM) reported on Thursday that it is in negotiations with Contract Manufacturing Organizations, or CMOs, as the next progression towards the anticipated clinical trials of its flagship cancer drug, Adva-27a, against multi-drug resistant forms of breast cancer. The trials are scheduled to be hosted by the leading cancer center Jewish General

Just Watch:  Online Gambling Today, Augmented Reality Online Gambling Tomorrow

Just Watch: Online Gambling Today, Augmented Reality Online Gambling Tomorrow(0)

The online gambling business is a hotbed of activity lately with Nevada, Delaware and New Jersey passing legislation permitting Internet betting with real money.  Bills have already been introduced in several other states as well, including California, Iowa and Mississippi, to legalize online wagering. There’s good reason for the markets buzzing about the potential revenues

ALR Technologies Partners with Mid-America Coalition in Bid to Commercialize Diabetes Management Program

ALR Technologies Partners with Mid-America Coalition in Bid to Commercialize Diabetes Management Program(0)

ALR Technologies Inc. (OTCBB: ALRT) took a big step in the direction of commercializing their Health-e-Connect Diabetes Management Program with news this week that the company has partnered with the Mid-America Coalition on Health Care, or MACHC.  The new pact means that MACHC will be introducing the ALRT program for pilot participation by its membership,

Face Up Entertainment Teams with Bad Beat on Hunger

Face Up Entertainment Teams with Bad Beat on Hunger(0)

Reality gaming social network company Face Up Entertainment Group, Inc. (OTCBB: FUEG) said late Wednesday that it has partnered with Bad Beat on Hunger, Inc. in the battle against childhood hunger in the U.S.  Bad Beat on Hunger is a venture between ForeverGreen International (OTCBB: FVRG) and the Happy Children Foundation helping to put food

Tactical Air Defense Services Buying Air 1 Flight Support

Tactical Air Defense Services Buying Air 1 Flight Support(0)

Tactical Air Defense Services, Inc. (Pinksheets: TADF) said Friday morning that it has signed a Letter of Intent to acquire 100 percent of Air 1 Flight Support, Inc. a privately-held provider of aircraft maintenance, refueling and support services headquartered in Denison, Texas, in an all-stock transaction. Tactical Air Defense Services is certified by the U.S.

read more
banner


Stay Informed

Receive the OTCS Newsletter *




*

* required

Dana-Farber to Host Cellceutix Trials

Cellceutix Corporation (CTIX)
Cellceutix Corporation has filed its Investigational New Drug application with the FDA. Dana-Farber and Beth Israel Deaconess Medical Center will be hosting the clinical trials for Kevetrin, Cellceutix's novel cancer drug. Read more news and get a stock quote.

Diabetes Rate Growing Exponentially

According to the International Diabetes Federation, more than 500 million people will be diagnosed with diabetes in the next two decades, a more than 50 percent increase from today. Technologies are available presently to help manage the frequency, complications and costs associated with diabetes. Read the complete article to learn more.

Contacts and information

Have an opinion or news that you want to share?

Social networks

Most popular categories

Disclaimer/Disclosure
© 2011 Viper Enterprises, LLC. All rights reserved.