LOREX announces 59% increase in first quarter revenues



    TORONTO, Feb. 11 /CNW/ - LOREX Technology Inc. ("LOREX") (TSX: LOX)
announces unaudited results for the three months ended December 31, 2007.
    Highlights of the three month operating results are as follows:

    
    (Thousands of US $)
    -------------------------------------------------------------------------
                                                        Three months ended
                                                            December 31
                                                   --------------------------
                                                          2007          2006
    -------------------------------------------------------------------------
    Revenue                                             13,755         8,716
    -------------------------------------------------------------------------
    Earnings (loss) before interest, taxes,
     amortization(*)                                       596          (356)
    -------------------------------------------------------------------------
    Earnings (loss)                                        132          (671)
    -------------------------------------------------------------------------
    Earnings (loss) per common share
     (basic and diluted)                                 $0.00        ($0.02)
    -------------------------------------------------------------------------
    Weighted average number of shares
     outstanding                                    26,954,083    26,954,083
    -------------------------------------------------------------------------

    (*) It is important to note that EBITDA is not a measure of performance
    under Canadian GAAP. EBITDA should not be considered in isolation or as a
    substitute for Net Earnings prepared in accordance with Canadian GAAP nor
    as a measure of operating performance or profitability
    

    The Company's first quarter revenues of $13.8 million has increased by
59%, from $8.7 million, for the same period of the prior year. The growth
stems primarily from the increase of Club warehouse shipments, combined with
new product introductions.
    The Company's earnings of $132,000 compared to a loss of $671,000 in the
prior year comparable quarter was a direct result of higher sales, as LOREX
increased its presence in North American club and major electronic retail
sales channels.
    Commenting on the first quarter result, Chairman and CEO Henry Schnurbach
stated, "The combined efforts of our product and sales teams have produced
positive results for the quarter. Our core product lines have been
reengineered, and our customer base has expanded. We do expect sales to
decrease moderately in the second quarter as compared to the prior quarter, as
we transition a major product category. We anticipate realizing continuing
sales growth in the third and fourth quarters with resulting profitability."

    FIRST QUARTER RESULTS WILL BE REVIEWED AT THE COMPANY'S ANNUAL GENERAL
MEETING, WHICH WILL BE HELD WEDNESDAY, FEBRUARY 13, 2008, AT 4:00 P.M. AT THE
TORONTO BOARD OF TRADE, FIRST CANADIAN PLACE, THIRD FLOOR IN THE
KETCHUM/OSGOODE ROOM. PLEASE ATTEND AND VIEW THE PRODUCTS ON DISPLAY.

    About LOREX Technology Inc.:

    LOREX Technology Inc. (TSX: LOX) global brands empower consumers and
professionals with leading-edge security video solutions delivering advanced
technology and innovative performance.

    The TSX has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.

    Certain information included in this news release contains statements
that are forward-looking, such as statements relating to anticipated future
revenues of the Company and the success of product offerings. Such
forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future, and,
accordingly, such results may differ materially from those expressed in any
forward-looking statements made by or on behalf of the Company.

    %SEDAR: 00008315E




For further information:

For further information: Jordan Schwartz, Chief Financial Officer, LOREX
Technology Inc., Phone: (905) 946-8589 ext 168, jordan.schwartz@lorexcorp.com,
www.lorextechnology.com

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LOREX Technology Inc.

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