Brekford International Reports Financial Performance for Q1 2008

2008-05-16 12:32:57 -

- Brekford International (formerly Tactical Solution Partners) Ryan Kirch, 443-883-8494 ir@tacticalsolutionpartners.com or Financial Communications Trilogy Capital Partners Ryon Harms, 800-592-6067 ryon@trilogy-capital.com Brekford International Corp. (formerly Tactical Solution Partners, Inc.) (OTCBB:TTSR) (OTCBB:BFDI), an innovative homeland security technology and services firm, has reported revenues and other financials information in its report on Form 10-Q for the quarter ended March 31, 2008, filed on May 15, 2008 with the Securities and Exchange Commission.

Revenues for the quarter totaled approximately $3.1 million, compared with $3.4 million in the same quarter last year, primarily derived from its Brekford Upfitting (formerly referred to as the PelicanMobile division) and Brekford Technology business units. In addition, the Company reported the commencement of revenues from its Brekford Armor division (formerly Tactical Solutions Options) resulting from sales of its newly introduced body armor system.

Net losses for the quarter were reduced significantly from approximately $2.5 million in the first quarter of 2007 compared with a net loss of approximately $995,000 in the current quarter, driven principally by reduced stock-based compensation expenses during 2008.

"We believe we are making substantial progress in building a foundation for revenue growth," said William A. Shafley, Chief Executive Officer of Brekford International. "During the quarter, we invested in hiring and developing staff, key strategic partnerships and vendor relationships to ensure a solid base from which we can grow our businesses, particularly in the body armor and training segments."

"We commenced expansion of our Upfitting and Armor divisions late in 2007, and have continued business development efforts that we anticipate will further boost sales and earnings in the coming months," said Mr. Shafley. "With $2.8 million in working capital, we believe we can grow our business significantly throughout the year."

The Company's initiatives to expand revenues and capitalize on trends within the homeland security industry include plans to:

-- Offer an expanded platform of products and higher-end technical services to existing customers through Brekford Armor and Upfitting business units;

-- Become a U.S General Services Administration (GSA) Schedule contractor for all Brekford business units;

-- Acquire complementary businesses that provide new products and services under the Brekford portfolio and new customers across all Brekford business lines.

About Brekford International Corp.

Brekford International Corp. (formerly Tactical Solution Partners, Inc.) (the "Company") is a homeland security technology firm led by an elite management team comprised of veteran business professionals and former Special Forces military personnel. The Company is a provider of tactical training, body armor and technology, such as rugged communication products, flotation and neutral buoyant body armor and military grade systems integration services.

Brekford's homeland security products and services span:

-- Maritime security, law enforcement and tactical skill-set training solutions for the lucrative private, commercial and government sectors

-- Rugged mobile, real-time data communications solutions for the $4.2 billion public safety and law enforcement markets

-- Consumer electronics to federal, state, and local agencies and commercial enterprises in support of back office operations

-- Customized, mission specific body armor

Brekford has launched an aggressive growth strategy fueled by a commitment to building significant stockholder value by exploiting near-term opportunities for revenue and earnings growth through acquisitions, organic growth and the internal development of complementary, proprietary technologies.

For more information, please visit www.tacticalsolutionpartners.com or www.trilogy-capital.com/tcp/tactical.

To read or download Brekford's Investor Fact Sheet, visit www.trilogy-capital.com/tcp/tactical/factsheet.html.

Forward Looking Statements

Statements included in this news release that do not relate to present or historical conditions are "forward-looking statements" within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve risks and uncertainties that could cause results or outcomes to differ materially from those expressed in the forward-looking statements. Forward-looking statements may include, without limitation, statements relating to our plans, strategies, objectives, expectations and intentions and are intended to be made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "believes," "forecasts," "intends," "possible," "estimates," "anticipates," and "plans" and similar expressions are intended to identify forward-looking statements. Our ability to predict projected results or the effect of events on our operating results is inherently uncertain. Forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those discussed in this document. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Important factors that could cause such differences include, but are not limited to those described from time to time in Brekford's filings with the Securities and Exchange Commission, including without limitation, Brekford's Registration Statement filed on Form 10-SB. Brekford expressly disclaims any obligation to update any forward-looking statements.

¶ Company Revenues Primarily Derived from Vehicle Upfitting Business
and Sales of Recently Introduced Advanced Lightweight Body Armor