ATWEC Technologies, Inc. (PINKSHEETS: ATWT) announced today its Security and Alarms Division has contracted to provide an electronic surveillance monitoring system for Parking Company of America Airport, LLC, the largest owner/operator of airport parking services in the United States. ATWEC will service Airport Fast Park in Memphis, Tennessee, one of fourteen nationwide PCA locations.
The monitoring system installed for PCA marks the beginning of the corporation’s expansion of its security and surveillance division. The contracts acquired by this division this quarter will generate upwards of $40,000 in revenue for the company.
Recurring revenue accounts for the division have climbed since ATWEC’s acquisition of a local alarm company in March, 2006. Residential security was central to the division when acquired, but commercial accounts have become the primary source of increased earnings. Projected revenues from the Security and Alarms Division for fiscal 2007 are approximately $500,000.
“The concurrent growth of the Child-Safety Products and the Security and Alarms Divisions are ensuring a bright future for the company as we continue to expand and grow our infrastructure,” said President/CEO Alex T. Wiley.
For more information on ATWEC Technologies, visit the company's web site: http://www.atwec.com/.
NOTE: Certain statements made in this press release are forward looking statements within the scope of the Private Securities Act of 1995. Such statements involve known and unknown risks. Uncertainties and other mitigating factors may influence desired outcomes. Such risks, uncertainties and/or other mitigating factors include but are not limited to new economic conditions, risks associated in product development, market acceptance of new products and continuing product demand, level of competition and other factors both known and unknown as described within this Company's reports and other filings with appropriate regulatory agencies.
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