Press Release |
Cyberlux Books $510,000 in Revenue by Fulfilling Next Shipment of the $3.4 Million National Guard Bureau Contract
* Reuters is not responsible for the content in this press release.
Company Ships 30 BrightEye Systems RESEARCH TRIANGLE PARK, N.C.--(Business Wire)-- Cyberlux Corporation (OTCBB: CYBL), aleading provider of LED lighting solutions, announced today that the Company has produced and shipped the next thirty BrightEye Systems of the $3.4 million order awarded to Cyberlux by the National Guard in June 2010. The execution of this order represents $510,000 in revenue, or $850,000 of total booked revenue in the last sixty days. "We have successfully delivered roughly one-quarter of this contract and anticipate completing the delivery by fourth quarter 2010," said Mark Schmidt, chief executive officer of Cyberlux Corporation. "We are excited to be on track with the fulfillment of this National Guard order, as well as the revenue growth associated with this opportunity. We understand the importance of this contract and plan to fully utilize the opportunity to expand our business. We have had back-to-back record revenue months that have afforded us sustainable, non-dilutive working capital to fulfill this contract and others. While simultaneously completing this contract and having our business development division secure new business, we are achieving the goal of creating a diverse business model capable of delivering for its client base. As we have stated previously, we understand the amount of work left to go if we want our company to be successful. The stringent internal guidelines we`ve implemented are delivering the results that we knew would be achieved if adhered to properly," added Schmidt. The BrightEye Tactical Illumination Systems are innovative LED lighting products designed as highly dependable, portable visible and covert illumination systems, with night-vision capability for mission-critical tactical lighting. Unique to the marketplace, the BrightEye Tactical Lighting Systems provide broad area visible white lighting and night-vision compatible IR lighting capable of operating all night, which is unavailable in traditional lighting systems. When rapid deployment and high-intensity lighting capability are required, the BrightEye systems deliver best-in-class performance using advanced optics, advanced solid-state lighting technology and light-weight advanced battery power, all contained in easily transportable wheeled case. About Cyberlux Corporation Cyberlux Corporation (OTCBB: CYBL), a leader in solid-state lighting innovation, has developed breakthrough LED lighting technology that provides the most energy efficient and cost effective portable lighting solutions available today for military and commercial uses. For more information, please visit www.cyberlux.com. This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors, including, but not limited to, the Company`s ability to expand its production capabilities concurrent with product orders. The Company`s business is subject to significant risks and uncertainties discussed more thoroughly in Cyberlux Corporation's SEC filings, including but not limited to, its report on Form 10-KSB for the year ended December 31, 2009and its 10-Qfor the quarter ended March 31, 2010. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Cyberlux Corporation Richard Brown, 617-314-7379 firstname.lastname@example.org Copyright Business Wire 2010