Nexland are positive net income for the 4th Quarter and record 2001 revenues
(Business Wire) 17 April 2002
MIAMI – (BUSINESS WIRE) – 15 April 2002 – Nexland Inc. (OTCBB: XLND), a technology driven Internet security company whose Internet Protocol (IP)-based networking devices are installed worldwide in enterprise branch office and telecommuter offices, today announced its results for the fourth quarter and fiscal year 31. December 2001.
sales for fiscal 2001 increased 177% from $ 4,080,170 to $ 1,472,950 in 2000. Gross profit increased by 179% from $ 2,061,847 $ 738,586 in 2000 while net loss decreased by 42% from $ 1,667,202 to $ 2,876,244. The net loss in 2001 includes non-cash expenses of $ 1,023,746.
the fourth quarter of 2001 was the first quarter in company history Nexland net profit. Revenues of $ 1,805,151 gross income of $ 896,959 and a net income of $ 42,723.
Gregory S. Levine, Chief Executive Officer and President of the company commented Nexland the results. “2001 was a breakthrough year for Nexland Our management team, many of our goals uncompromising value to our customers and the provision reaches a productive environment for our employees. To the year 2002 we have successfully our research and development in Asia, the United States transfer date, to improve our product response time and quality control. In addition, we strive in 2002 to further enhance our customer and employee satisfaction, development and introduction of new, innovative Internet security appliance market and to end the year profitably. Now our focus must continue to deliver and build on these trends. “
Nexland, Inc. designs, develops and distributes safe, affordable and easy-to-use Internet security appliances for enterprise branch offices and telecommuters. Created in the light of security issues, support Nexland products using Virtual Private Networking (VPN) switches at companies with remote locations and are equipped with DSL, cable, wireless, ISDN and analog Internet connections compatible. The most important differentiating advantage Nexland registered products is their ability to patent, so that encrypted VPN packets, carried out to “pass through” the Network Address Translation by our equipment. Nexland products allow multiple sessions of IPSec (Internet Protocol Security) and PPTP (Point to Point Tunneling Protocol) to pass through and single sessions of the L2TP (Level Two Tunneling Protocol) protocol. Nexland also its technology to OEM’s network security industry partners. Nexland website is http://www.nexland.com.
Forward-looking statements are made in the release pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of l995. These forward-looking statements are subject to risks and uncertainties in the Company’s filings with the Securities and Exchange Commission.detailed
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