Science & Technology 
Science and Technology
Science and Technology 
Tue, February 24, 2009
Nighthawk Systems Discusses Expectations for 2009
SAN ANTONIO--([ BUSINESS WIRE ])--[ Nighthawk Systems, Inc. ] (OTCBB: NIHK) CEO H. Douglas Saathoff issued a statement today discussing expectations for the Company in light of current economic conditions. Nighthawk Systems is a leading provider of wireless and IP-based control devices and solutions, with a primary focus on power control devices for the electric utility industry and high definition set top boxes in the hospitality industry.
Mr. Saathoff commented, "As I stated just over a month ago, we are coming off the strongest year ever for the Company. With our set top box business fully integrated into the Company, we produced record revenues during 2008 and enhanced our margins as well. Based on feedback from existing customers and prospective customers, we expect to see further growth in 2009, and positive cash flow remains a realistic goal of the Company for this year. However, I expect revenues for the first half of the year to decline in comparison to last year as we deal with the effects of the current economic downturn. Although interest in our products remains strong, customers are acting more slowly and cautiously, and production cycles are getting longer as everyone deals with a tighter credit environment. Capital sources are strained and acting more slowly than normal."
Mr. Saathoff continued, "In spite of the economy, the reasons for optimism at Nighthawk are many, and the results from 2008 have us better prepared for the road that lies ahead. A growing customer base, new products and better sales channels should lead to growth in the second half of 2009. We have been working with several new companies within the hospitality market, integrating our set top boxes into their systems, and with several new customers outside of the hospitality industry as well. New relationships should supplement existing order flow for set top boxes in the latter half of 2009. Demand for money-saving devices should increase in this economy, and spending on smart grid devices should increase due to government incentives and regulatory requirements. These factors, combined with our new relationship with Itron and the introduction of new products into the market, should lead to growth in sales of power control devices in the utility industry during the latter half of 2009."
About Nighthawk Systems, Inc.
Nighthawk is a leading provider of intelligent wireless power control products that enable simultaneous activation or de-activation of multiple assets or systems on demand. Nighthawk's installed customer base includes major electric utilities, internet service providers and fire departments in forty states. Nighthawk's products also enable custom message display, making them ideal for use in traffic control and emergency notification situations. Individuals interested in Nighthawk Systems can sign up to receive email alerts by visiting the Company's website at [ www.nighthawksystems.com ].
Forward-looking statements
Statements contained in this release, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, acceptance of new or existing businesses, capital resources and future business or financial results are "forward-looking" statements. You should not place undue reliance on these forward-looking statements. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, customer acceptance of our products, our ability to raise capital to fund our operations, our ability to develop and protect proprietary technology, government regulation, competition in our industry, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in our expectations, except as required by law.