SHENZHEN, China, April 9 /Xinhua-PRNewswire-FirstCall/ -- China Security & Surveillance Technology, Inc. (OTC Bulletin Board: CSCT), a leading provider of digital surveillance technology in the PRC, today announced new contracts won in the first quarter ending March 31, 2007.
The Company secured thirty-nine new contract wins that are expected to result in approximately $32.0 million in revenues. The new contracts include city-wide security and surveillance contracts, as well as installations in cyber cafes, factories, railway stations and corporate locations. The Company expects to recognize the majority of the revenue from these contracts in the second quarter of 2007 due to the timing of Chinese New Year celebrations. Among the new contract wins, the Company secured nine new Safe City-wide surveillance projects, most of which are pilot projects that may lead to larger contracts, as well as contracts in five cyber cafes.
Mr. Guo Shen Tu, Chief Executive Officer of China Security commented, "Since the beginning of 2007, we signed over thirty-nine new contracts across many different types of businesses, although we are pleased to announce that government mandates for security continue to drive demand for our products and services. Many of the city-wide contracts are pilot programs that we want to leverage into long-term relationships. We are proud of our continued geographic expansion as we signed contracts in several new cities, and the overall momentum in our business remains encouraging."
About China Security & Surveillance Technology, Inc.
Based in Shenzhen, China, China Security manufactures, distributes, installs and maintains security and surveillance systems throughout the PRC. China Security has manufacturing facilities located in China and an R&D facility which maintains an exclusive collaboration agreement with Beijing University. China Security has built a diversified customer base through its extensive sales and service network that includes numerous points of presence throughout the PRC. To learn more about the Company visit http://www.csstf.com .
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