Labwire Completes Its First Acquisition
11 Dezember 2007 - 8:39PM
PR Newswire (US)
HOUSTON, Dec. 11 /PRNewswire-FirstCall/ -- Labwire, Inc. (Pink
Sheets: LBWR), a leading provider of employee screening solutions
and canine security and surveillance services, announced today that
it has completed the acquisition of Occupational Testing, Inc., an
established provider of occupational substance abuse services
located in Gillette Wyoming. The business is already profitable and
will add approximately $800,000 in annual sales to Labwire's
revenue stream. Additionally, profitability will increase as the
economies of the Labwire platform are implemented throughout the
customer base. Finally, there are excellent marketing opportunities
for value-added services from Labwire such as background checks,
volume price advantages for testing and support services, and some
potential for marketing of security services. "I am excited to have
completed the acquisition of Occupational Testing, Inc.," commented
Mr. Dexter Morris, Chief Executive Officer, of Labwire Inc. "We
were able to buy a business on '06 numbers that has already shown a
33% increase in sales and profits for '07. This opens up an
additional marketplace and expands the use of our Labwire platform
to another industry segment valued at some $300-$400m annually in
smaller customer sales. Another major step in fulfilling our
commitment to shareholders to grow the Company through strategic
acquisitions is now delivered representing an additional,
significant milestone toward increasing shareholder value." About
Labwire: Labwire Inc., headquartered in Houston, TX, provides
secure and compliant employee drug screening and background
checking services to Fortune 500 corporations via the Labwire(TM)
Platform. Labwire(TM) is a proprietary, web-based application that
streamlines the complex regulatory and record management activities
associated with employee screening, delivering accurate timely
results while eliminating service calls and paper trails. This
comprehensive solution to managing employee screening services is
the most efficient and cost-effective platform in the industry.
Safe Harbor Provisions: Certain oral statements made by management
from time to time and certain statements contained in press
releases and periodic reports issued by Labwire, Inc., (the
"Company"), as well as those contained herein, that are not
historical facts are "forward-looking statements" within the
meaning of Section 21E of the Securities and Exchange Act of 1934
and, because such statements involve risks and uncertainties,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Forward-looking
statements, including those in Management's Discussion and
Analysis, are statements regarding the intent, belief or current
expectations, estimates or projections of the Company, its
Directors or its Officers about the Company and the industry in
which it operates, and are based on assumptions made by management.
Forward-looking statements include without limitation statements
regarding: (a) the Company's strategies regarding growth and
business expansion, including future acquisitions; (b) the
Company's financing plans; (c) trends affecting the Company's
financial condition or results of operations; (d) the Company's
ability to continue to control costs and to meet its liquidity and
other financing needs; (e) the declaration and payment of
dividends; and (f) the Company's ability to respond to changes in
customer demand and regulations. Although the Company believes that
its expectations are based on reasonable assumptions, it can give
no assurance that the anticipated results will occur. When issued
in this report, the words "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates," and similar expressions
are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ
materially from those in the forward-looking statements include,
among other items, (i) changes in the regulatory and general
economic environment; (ii) conditions in the capital markets,
including the interest rate environment and the availability of
capital; (iii) changes in the competitive marketplace that could
affect the Company's revenue and/or cost and expenses, such as
increased competition, lack of qualified marketing, management or
other personnel, and increased labor and inventory costs; (iv)
changes in technology or customer requirements, which could render
the Company's technologies noncompetitive or obsolete; (v) new
product introductions, product sales mix and the geographic mix of
sales. The Company disclaims any intention or obligation to update
or revise forward-looking statements, whether as a result of new
information, future events or otherwise. Safe Harbor Statement
under the Private Securities Litigation Reform Act of 1995: The
statements which are not historical facts contained in this
advertisement are forward-looking statements that involve certain
risks and uncertainties including but not limited to risks
associated with the uncertainty of future financial results,
additional financing requirements, development of new products,
governmental approval processes, the impact of competitive products
or pricing, technological changes, and the effect of economic
conditions. Investor and Public Relations Contact: Marlin R.
Williford Jr. email: Phone: (832) 487-7803 DATASOURCE: Labwire,
Inc. CONTACT: Marlin R. Williford Jr., +1-832-487-7803, , for
Labwire, Inc.
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