Investorideas.com - Security Industry News; Visualant (OTCBB:VSUL) Subsidiary, TransTech Systems, Sees Growth In Difficult Economic Environment
Security Industry News; Visualant (OTCBB:VSUL) Subsidiary, TransTech Systems, Sees Growth In Difficult Economic Environment
SEATTLE - September 1, 2011 (Investorideas.com Defense Newswire) - Visualant, Inc. (OTCBB: VSUL), a pioneer provider of industry-leading identification solutions, is pleased to announce today that its subsidiary, TransTech Systems, sees growth in its business in the midst of a difficult economic environment.
TransTech continues to enjoy revenue growth year-to-date on a calendar basis over the same period in 2010. There have been a few special projects which have increased revenues. Meanwhile TransTech continues to strengthen and grow its customer base. The number of resellers with orders in the system during the last few months has remained ahead of last year.
Typically, low employment translates into less need for corporate or contractor ID badges. Yet while the national employment situation has not improved much over last year, some sectors have increased their requirements. In comparison to last year, July and August revenue has been fueled by decent seasonal strength in the School ID market. This segment has been stronger than 2010 for many of TransTech’s resellers. The back order and current bid pipelines remain reasonably strong as of the end of August. If the trend holds for September TransTech will show growth for the 3rd quarter of the calendar year.
Jim Gingo, President of TransTech Systems and an industry leader stated, "We are seeing a distinctive uptick in orders for companies, organizations and government agencies for security and identifications systems and components. We have noticed that many of orders are directed at strengthening existing access control systems and other organizational infrastructure to more strongly tie an individual credential holder to the person holding it. In other words, it no longer seems enough to provide access cards and systems, but rather authentication and authorization have become an integral factor in system efficiencies."
TransTech, acquired by Visualant in June of 2010, is the distribution arm for Visualant Spectral Pattern Matching ("SPM") technology into the security and authentication marketplace. Regarding SPM, Gingo added, "I believe our parent company, Visualant, and its proprietary SPM technology is poised to ultimately provide even more options for definitively linking a person to his or her credential, be it card, paper or anything else."
About Visualant, Inc.
Visualant, Inc. (OTCBB: VSUL) develops low-cost, high speed, light-based security and quality control solutions for use in homeland security, anti-counterfeiting, forgery/fraud prevention, brand protection and process control applications. Our patent-pending technology uses controlled illumination with specific bands of light, to establish a unique spectral signature for both individual and classes of items. When matched against existing databases, these spectral signatures allow precise identification and authentication of any item or substance. This breakthrough optical sensing and data capture technology is called Spectral Pattern Matching ("SPM"). SPM technology can be miniaturized and is easily integrated into a variety of hand-held or fixed mount configurations, and can be combined in the same package as a bar-code or biometric scanner.
Through its wholly owned subsidiary, TransTech Systems, Inc., the Company provides security and authentication solutions to security and law enforcement markets throughout the United States.
Safe Harbor Statement
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements (within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this press release reflect the good faith judgment of our management and are based on facts and factors currently known to us. Forward-looking statements are subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements as a result of either the matters set forth or incorporated in this press release generally or certain economic and business factors, some of which may be unknown to and/or beyond the control of Visualant, Inc. Specifically, we are exposed to various risks related to our revenue projections, our need for additional financing to support our technology development, the sale of a significant number of our shares of common stock could depress the price of our common stock, acquiring or investing in new businesses and ongoing operations, we may incur losses in the future and the market price of our common stock may be volatile,. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We do not undertake, and we expressly disclaim, any obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of the press release.
Contact:
Visualant, Inc.:Ron Erickson, 206-903-1351
ron@ronerickson.com
Investor RelationsPaul DeRisoCore Consulting Group925-465-6088paul@coreconsultingroup.com
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