Lorex announces fourth quarter revenue guidance

TORONTO, Nov. 23, 2011 /CNW/ - LOREX Technology Inc. ("LOREX" or the "Company") (TSXV: LOX) announces revenue guidance for the fiscal year ended September 30, 2011. 

LOREX Technology is pleased to announce that its total revenue was $62.7 million (unaudited) for its fiscal year ended September 30, 2011; a 34% increase over the prior year total revenue of $46.8 million.  Chairman and CEO, Reuben Klein stated that "the Company's revenue growth is completely organic; and was achieved by introducing and continuing development of affordable, consumer-friendly and innovative digital wireless recording solutions."  The Company previously reported that projected revenues for the year ending September 30, 2011 would be in the range of $58 million to $60 million.

About LOREX Technology Inc.:
LOREX Technology Inc. ('LOREX') (TSXV: LOX) provides businesses and consumers with leading edge video surveillance security solutions and sells its products under the LOREX and Digimerge brands. The LOREX brand, which caters to both small business and consumer markets, is available in thousands of retail locations across North America. The Digimerge division distributes its products through major distributors in North America. Both brands concentrate on the sale of wired, wireless and IP security surveillance equipment including cameras, digital video recorders and complete surveillance systems.

LOREX subsidiaries include; LOREX Canada Inc., LOREX Corporation and Strategic Vista Corporation Limited, Hong Kong.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.

Cautionary Statement on Forward-Looking Information

This news release contains certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this press release relate to the Company's unaudited revenue. The forward-looking information reflects expectations and does not in any way reflect a guarantee. Factors which could cause actual results to differ from current expectations include, among other things: competitive conditions in which the Company participates; changes in consumer spending; general economic conditions; customer preferences towards product offerings. The Company cautions that this is not an exhaustive list of factors that may affect the forward-looking information contained in this press release. Potential investors and readers are urged to give careful consideration to all of these factors in evaluating any forward-looking information and are cautioned not to place undue reliance on such information. While the Company believes that its expectations are reasonable, results predicted in this forward-looking information may differ materially from actual results. The Company disclaims any obligation to update forward-looking information, except as may be required by law.

SOURCE LOREX Technology Inc.

For further information:

Reuben Klein
Chairman and Chief Executive Officer
LOREX Technology Inc.
Phone: (905) 946-8589, extension 120

Profil de l'entreprise

LOREX Technology Inc.

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