News Column

Viscount Systems Releases Q1 2014 Results and Files 10-Q

May 14, 2014

Overall Revenues Increase 13%, Freedom Revenues Rise 54%

BURNABY, British Columbia--(BUSINESS WIRE)-- Viscount Systems (OTCQB:VSYS), a leading edge supplier of security systems and software, will file its 10-Q today in addition to announcing Q1 results for the quarter ending March 31, 2014.

Revenues for the quarter ended March 31, 2014 were $936,873, an increase of $108,553, or 13%, as compared to the comparable quarter in 2013. Sales of the Company’s IT-based access control solution called Freedom, rose by 54%.

The company’s net loss for the quarter ended March 31, 2014, before non-cash and other items, was $528,663, as compared to a loss of $256,571 for the quarter ended March 31, 2013. The higher net loss is primarily due to increased spending on R&D and sales/marketing staffing following the recently completed capital raise.

Conference Call to Review Results

Dennis Raefield, CEO and President of Viscount Systems, will hold a conference call Thursday May 15 at 4:15 pm EST to discuss Q1 results.

Join the meeting by following the procedures below.

1. Please join by going to:

https://global.gotomeeting.com/meeting/join/346179917

2. Join the conference call:

Canada: +1 (647) 497-9351

United States: +1 (215) 383-1010

Access Code: 346-179-917

Meeting ID: 346-179-917

Should you have questions during the event please send an email to dennis@viscount.com

About Viscount's Freedom Access Control Solution

Freedom is the first and only access control system that allows entry devices (ID cards, RFID readers, biometrics etc.) to be connected to, and controlled by, standard building IT networks without requiring expensive control panels. This eliminates up to 60% of the cost of traditional access control system hardware. Freedom also utilizes existing IT permission databases (Microsoft Active Directory or LDAP) to replace the software component of traditional systems. Freedom drastically reduces system costs while providing a much more secure software solution.

About Viscount Systems

Viscount Systems Inc., designs unified IT and physical security software platforms for building security and emergency planning. Recent awards include the 2012 Microsoft "Be What's Next" Award, SIA Convergence Solution of the Year 2011 and Homeland Security Platinum Award for Emergency Response and Gold Award for Access Control at GOVSEC 2011.

Contacts

Investor Relations:

Scott Greiper

Secure Strategy Group

(212) 333-0202

sgreiper@securesg.com

Viscount Systems Inc.

604-327-9446

Investors@viscount.com

Safe Harbor Statement

Forward looking statements: This press release and other statements by Viscount Systems Inc. may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the outlook for earnings and revenues, other future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "estimate," "position," "assume," "potential," "outlook," "continue," "remain," "maintain," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," or similar expressions.




Investor Relations:

Secure Strategy Group

Scott Greiper, 212-333-0202

sgreiper@securesg.com

or

Viscount Systems Inc.

604-327-9446

Investors@viscount.com

Source: Viscount Systems Inc.


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Source: Business Wire