CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--July 14, 2005--Global ePoint, Inc. (Nasdaq:GEPT - News), a leading manufacturer of security technologies for the aviation, military, law enforcement, industrial and commercial markets, announced today that a major financial institution has placed a reorder for its wholly-owned division's Perpetual Digital's video surveillance systems. Perpetual Digital is part of Global ePoint's Digital Technology division.
This order initiates the second phase of deployment for the Perpetual video surveillance system for this particular financial institution and it involves their check processing centers, a highly sensitive area of operations for them. The Perpetual Digital systems had to meet stringent government and corporate security specifications before being approved for the surveillance project.
“Our digital video recording system is ideal for financial institutions because it provides a robust application feature set with advanced search and alarm trigger capabilities, in addition to the dual-redundancy and large video storage capacity that is required in this market,” commented Greg Edelman, VP of Business Development for the Perpetual Digital product line. “We have developed a solid relationship with this leading financial institution and this order further validates our products in the financial market.”
The Perpetual Digital systems to be utilized by the check processing centers will be 16 channel digital video recorders (DVR) with dual-redundant capability and 5.4 TB (terabytes) of internal video storage capacity. This video security system is a custom solution that was developed to the customer's project specifications.
The Perpetual Digital product line provides dynamic video surveillance solutions to the electronic security market, which has been experiencing significant growth over the last decade. According to Security Sales & Integration and Security Systems News magazines, the CCTV segment of the overall electronic security market was $3.0 billion in the United States market for 2003. It is projected to reach $4.4 billion by 2008, an annual increase of 9.3%.
About Perpetual Digital
Global ePoint's Digital Technology Division develops and provides a range of next-generation digital video and audio recording solutions for applications in the security industry. Currently consisting of Perpetual Digital and Sequent Technology product lines, the Digital division's products are making analog tape-based systems obsolete by providing digital technology solutions to enable the real-time capture, playback, communication, computer-based archive, search and recall of high-quality digital video. Perpetual Digital products provide a range of security and surveillance capabilities, including point-of-sale digital video transaction recording equipment and a range of other commercial security solutions for professional alarm providers and integrators. Sequent Technologies products provide proprietary digital video systems for a range of law enforcement, defense, access security and public safety markets. Its products enable the video transmission, indexing and archiving systems from anywhere using existing wireless cellular networks.
About GlobalePoint, Inc.
Global ePoint's growth catalyst, through its wholly-owned subsidiaries, is the design, manufacturing, sales and distribution of digital video surveillance systems for the law enforcement, military, aviation and homeland security markets. On the cutting edge of digital technology and seeking to expand its product line, Global ePoint is developing new compression technologies and next-generation, secure network digital video systems and servers for a wide range of new markets, concentrating primarily on security and homeland defense applications. As a solid recurring revenue stream, the Company also manufactures customized computing systems for industrial, business and consumer markets, as well as other specialized electronic products and systems. Complete vertical integration -- from design and manufacturing to sales and distribution -- allows the Company to capture efficiencies and maintain cost advantages in these growing markets, particularly homeland security. For more information, please visit www.globalepoint.com
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks related to the integration of the Company's recently acquired operations; market acceptance of the Company's products; delays in the introduction of new products; production and/or quality control problems; further approvals of regulatory authorities and the denial, suspension or revocation of certifications and licenses by governmental authorities; and the Company's ability to obtain capital as and when needed. For a discussion of these and other factors which may cause actual events or results to differ from those projected, please refer to the Company's most recent annual report on Form 10-KSB and quarterly reports on Form 10-QSB, as well as other subsequent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.