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Labwire Pleased to Announce Year to Date and Third Quarter Revenue Results Houston, TX - Oct 11, 2006 Labwire, Inc. (Pink Sheets: LBWR), a leading provider of employee screening solutions and canine security and surveillance services, is pleased to announce year to date and third quarter revenue results. For the nine months ended September 30, 2006, Labwire’s gross revenue was $2,674,767 compared to $1,758,132 during the same period in 2005. This represents an increase of $916,635 or 52%. The Company experienced growth during the first nine months of 2006 across: (i) employee screening services, which increased 29% compared to the same period in 2005; (ii) canine security and surveillance, which increased 314% compared to the same period in 2005; and (iii) management services, which generated $14,967 compared to zero revenue during the same period in 2005. Section 1 Subheading For the quarter ended September 30, 2006, Labwire reported gross revenue of $781,009 compared to gross revenue of $724,008 in the third quarter of 2005, an increase of $57,001 or 8%. The Company experienced growth during the third quarter of 2006 across: (i) employee screening services, which increased 11% over the same period in 2005 and (ii) management services, which generated $5,000 compared to zero revenue during the same period in 2005. The Company experienced a decline in revenue within its canine security and surveillance business, which decreased 25% in the third quarter of 2006 compared to the same period in 2005. This decrease in revenue can be attributed to the unusually high and non-recurring revenue recorded in August and September 2005 as a result of increased security and surveillance requests following Hurricanes Katrina and Rita. About Labwire Labwire Inc., Headquartered in Houston, TX, provides secure and compliant employee drug screening and background checking services to Fortune 500 corporations via the Labwire™ Platform. Labwire™ is a proprietary, web-based application that streamlines the complex regulatory and record management activities associated with employee screening, delivering accurate timely results while eliminating service calls and paper trails. This comprehensive solution to managing employee screening services is the most efficient and cost-effective platform in the industry. Safe Harbor Provisions: Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Labwire, Inc., (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its Directors or its Officers about the Company and the industry in which it operates, and are based on assumptions made by management. Forward looking statements include without limitation statements regarding: (a) the Company's strategies regarding growth and business expansion, including future acquisitions; (b) the Company's financing plans; (c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements. Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the Company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the Company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix and the geographic mix of sales. The Company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions. Contact: |
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