Video Display Corporation Adds Cybersecurity Product and Testing Facilities
12 März 2012 - 6:24PM
Video Display Corporation (Nasdaq:VIDE), well known for its rugged
flat panel and projection display products for military, defense
and security markets, today announced the addition of independent
TEMPEST testing capabilities and a SECURE line of electronic
products. VDC, which had held a first lien and security interest in
privately held StingRay56 Corp, of Palm Bay, Florida, has initiated
a Strict Foreclosure Proceeding effective March 5, 2012 and assumed
ownership of all assets of the creditor company.
By adding the security capabilities to VDC's current product
offerings, the Company stands a margin above any of its
competitors' offerings in the marketplace. Today in cyberspace,
intelligent adversaries exploit vulnerabilities and create
incidents that propagate at machine speeds to steal identities,
resources, and advantage. The rising volume and virulence of these
attacks have the potential to degrade our country's economic
capacity and threaten basic services. The Company sees the
capability to address this problem as an absolute necessity for the
future growth of its defense business as well as the numerous other
applications in commercial and government services.
Video Display CEO, Ron Ordway, stated, "Based on current backlog
and quote levels, I believe the additional product and services
offering will comprise approximately 5% to 10% of VDC's revenues in
the current fiscal year, with increases in subsequent years. At
that revenue run rate, I would also expect the business to show
profit margins equivalent to VDC's other operations."
Video Display Corporation designs, develops and manufactures
unique solutions for display requirements for military, medical and
industrial use with emphasis on high end training and simulation
applications. Its product offerings include rugged AMLCD and CRT
displays as well as complete projection systems utilizing VDC's
Marquee™ line of projectors. Video Display Corporation operates
eight display design and manufacturing plants plus additional sales
facilities throughout the United States and Europe.
This document contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as
amended. In addition, from time to time, Video Display Corporation
or its representatives have made or may make forward-looking
statements, orally or in writing. Such forward-looking statements
may be included in, but are not limited to, various filings made by
the Company with the Securities and Exchange Commission, press
releases or oral statements made with the approval of an authorized
executive officer of the Company. Actual results could differ
materially from those projected or suggested in any forward-looking
statements as a result of a wide variety of factors and conditions,
including items discussed in the Company's Form 10-K for the year
ended February 28, 2011, filed with the Securities and
Exchange Commission. The Company undertakes no duty to publicly
update forward-looking statements, whether as a result of new
information, future events or otherwise.
CONTACT: Video Display Corporation, Atlanta
Ronald D. Ordway, 770-938-2080
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