LOREX announces third quarter earnings



    TORONTO, Aug. 13 /CNW/ - LOREX Technology Inc. ("LOREX") (TSX: LOX)
announces unaudited results for the three and nine months ended June 30, 2008.
    Highlights of the three and nine month operating results are as follows:

    
    (Thousands of US $, unless otherwise noted)
    -------------------------------------------------------------------------
                                Three months ended        Nine months ended
                                      June 30                  June 30
                             ------------------------------------------------
                                  2008        2007         2008        2007
    -------------------------------------------------------------------------
    Revenue                     10,217      12,149       36,597      32,995
    -------------------------------------------------------------------------
    Earnings (loss) before
     interest, taxes,
     amortization (*)           (1,061)        316          (31)       (480)
    -------------------------------------------------------------------------
    Loss for the period         (1,423)       (123)      (1,269)     (1,566)
    -------------------------------------------------------------------------
    Earnings (loss) per
     common share (basic
     and diluted)               ($0.05)      $0.00       ($0.05)     ($0.06)
    -------------------------------------------------------------------------
    Weighted average number
     of shares outstanding
     - basic                26,954,083  26,954,083   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.
    

    Commenting on the third quarter results, Chairman and CEO
Henry Schnurbach stated, "We were challenged this last quarter with the
slowdown at retail which affected discretionary purchase by small business. To
encourage demand, we offered an incentive program which has impacted this
third quarter's earnings while at the same time generating increasing product
interest. We thank our Stakeholders for their patience in this difficult
environment and invite all Shareholders to be on the lookout for our exciting
new product introductions including our leading edge digital wireless
cameras."

    Q3 '08 CONFERENCE CALL

    LOREX will be holding a conference call for investors and analysts to
discuss the above financial results at 4:00 PM ET on Thursday, August 14th,
2008.
    Please dial 800-594-3615 to access the call.
    For those unable to participate in the conference call at the scheduled
time, a replay of the conference call will be available beginning on Thursday,
August 14th, 2008 at 6:00 PM until Thursday, August 21st, 2008 at 11:59 PM ET:

    
    Replay Access No.: 416-640-1917
    Passcode: 21279866 followed by the number sign.

    Replay Access No.: 877-289-8525
    Passcode: 21279866 followed by the number sign.
    

    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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