VDI Visual Defence

    RNS Number : 2403J
  Visual Defence Inc.
  01 December 2008
   
    Visual Defence Inc 
    ("Visual Defence" or the "Company")

    Trading Update - Year Ending December 31, 2008

    RICHMOND HILL, ONTARIO - December 01, 2008 - Visual Defence (LSE: VDI) today announces an update on trading for the year ending December
31 2008.

    The Company expects to report revenues for the year ending December 31, 2008 of approximately $16.0 million CAD, with an operating loss
of approximately $4.0 million CAD. The cash position of the Company is expected to be approximately $8.0 million CAD at December 31, 2008.
Gross margins are expected to have improved in the period to 40% of sales.

    While the Company continues to enjoy success in the United Kingdom, Scandinavia and Africa, the overall market for products and projects
in the Company's sector has seen delays and deferrals due to prevailing worldwide market conditions resulting in full year revenues below
management's previous expectations.

    The Company has aggressively pursued cost reduction programs including the recent closure of its Vancouver office and a 20% reduction in
head office staff. The Company has continued investment in new technologies totalling over approximately $1.9 million CAD for Research and
Development during the year to December 31, 2008. 

    The Board believes the measures taken to invest in new technologies, responsibly reduce costs and focus on delivery and customer service
will best prepare the Company for the uncertainty in the markets in the year ahead.

    Enquiries:

 Visual Defence Inc                                   +(1) 905 731 1254
 Barry Tal, Chairman
 Bill Watson, Chief Financial Officer 

 KBC Peel Hunt Ltd (Nominated Adviser and Broker)  +44 (0) 20 7418 8900
 David Anderson 

    About Visual Defence

    Visual Defence prides itself on mastering the "Art of Integration" and providing customized solutions. The Company provides advanced
security solutions for leading government, airport, mass transit and commercial clients around the world. Leveraging 3C�, its proven
Security Management Software Platform, and suite of modular Integration, Video, VoIP Communication, and Situational Awareness applications,
Visual Defence delivers solutions that meet exact business objectives. Visual Defence turns functionality and interoperability requirements
into intelligent, scalable and easy-to-manage solutions that provide end-users with the security insight they need to improve operations and
effectively prevent and mitigate risk. Additional information about Visual Defence is available at: http://www.visualdefence.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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