Message #59 From:
NewsBot Date: September 18, 2007 09:23:04 AM
Nighthawk Systems Receives Second Large Order from Electric Utility
New Utility WebConnectTMSoftware Spurring Demand for Products
Nighthawk Systems, Inc. (OTCBB: NIHK), a leading provider of intelligent wireless power management and emergency notification solutions, announced today that it has received a second order for CEO700 whole house disconnect units from the Town of Smyrna, Delaware. Nighthawk announced in May 2007 that Smyrna had placed the largest initial order for CEO700’s in Company history, and this second order matches the original order of 300 units. Both sales were made with the assistance of Rumsey Electric, one of the nation’s leading electrical wholesalers.
Smyrna is using a pre-production version of Nighthawk’s Utility WebConnectTM software platform to manage and control their devices. Nighthawk expects to begin marketing and selling Utility WebConnectTMduring the fourth quarter of 2007.
The CEO700 gives electric utilities the ability to remotely connect and disconnect power to residential electric meters on a moment’s notice, improving customer service response times and saving the utilities significant time and money compared to the traditional manual method that requires truck rolls and field personnel. Smyrna is utilizing the CEO700 to decrease the time and expense associated with frequent connects and disconnects at transient housing locations such as apartments.
H. Douglas Saathoff, Nighthawk’s Chief Executive Officer, commented, “I’m extremely pleased to receive this order from the Town of Smyrna, especially less than four months after the original order from them. I have no doubt that the pre-production version of our Utility WebConnectTMsoftware has played an important role in the quick progress we’ve made on this account. The ability to connect or disconnect power to customers is only a mouse click away with the software. We’re coming off of our biggest quarter in four years, and we’ve kept the momentum going. I believe the near-term release of the production version of Utility WebConnectTMhas the potential to more than double our current sales rate.”
Nighthawk is a leading provider of intelligent wireless power control products that enable simultaneous activation or de-activation of multiple assets or systems on demand. Nighthawk's installed customer base includes major electric utilities, internet service providers and fire departments in over 40 states. Nighthawk's products also enable custom message display, making them ideal for use in traffic control and emergency notification situations.
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Forward-looking statements
Statements contained in this release, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, acceptance of new or existing businesses, capital resources and future business or financial results are "forward-looking" statements. You should not place undue reliance on these forward-looking statements. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, customer acceptance of our products, our ability to raise capital to fund our operations, our ability to develop and protect proprietary technology, government regulation, competition in our industry, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in our expectations, except as required by law.
