Citadel Security Software Expects 150% Increase in Sequential Quarterly Revenue.DALLAS -- Company Expects to Report Second Quarter 2004 Revenue of Approximately $3.4 Million and Reiterates 2004 Full-year Revenue Guidance Citadel Security Software Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CDSS CDSS California Department of Social Services CDSS Clinical Decision Support Systems CDSS Country Dance and Song Society CDSS Canadian Down Syndrome Society CDSS Community Day Secondary Schools (Malawi) ), a leader in full life cycle vulnerability management and policy enforcement solutions through its automated vulnerability remediation (AVR (Automatic Voltage Regulation) See voltage regulator. ) technology, today announced that it expects revenue of approximately $3.4 million for its second quarter ended June 30, 2004. This is an increase of approximately 150 percent over revenue reported for the first quarter of 2004. Demand for vulnerability management solutions in the government sector and commercial enterprise market is expected to place the full-year 2004 revenue in a range of $18.5 million to $21 million, consistent with previous guidance. An earnings conference call to discuss the final financial results for the second quarter of 2004 has been scheduled for Thursday, August 5, 2004 at 4:30 PM Eastern Time. This call is being webcast by CCBN CCBN Central Coast Bancorp CCBN Charles County Business Network and will be available from the Investor Relations Investor relations The process by which the corporation communicates with its investors. section of the company's corporate website. A replay of the webcast will be available beginning two hours after the completion of the call. The webcast is also being distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN's individual investor center at www.fulldisclosure.com or by visiting any of the investor sites in CCBN's Individual Investor Network. Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents (www.streetevents.com). Please visit our website or go directly to http://www.Citadel.com/2qwebcast/ at least ten minutes early to register for the webcast. About Citadel Citadel Security Software Inc., a leader in full life cycle vulnerability management solutions powered by AVR technology helps enterprises effectively neutralize security vulnerabilities. Citadel's patent-pending, Common Criteria (Common Criteria for Information Technology Security) An international standard process for defining security objectives and for evaluating compliance with those objectives. The Common Criteria have largely replaced the Trusted Computer Security Evaluation Criteria (TCSEC), the Canadian EAL EAL English as an Additional Language EAL Evaluation Assurance Level EAL Eastern Airlines EAL Emergency Action Level EAL Environmental Analysis Laboratory EAL Evidence Analysis Library (American Dietetic Association) 3 certified Hercules(R) technology provides users with full control over the automated remediation process, enabling efficient aggregation, prioritization and resolution of vulnerabilities detected by industry-standard vulnerability assessment A Department of Defense, command, or unit-level evaluation (assessment) to determine the vulnerability of a terrorist attack against an installation, unit, exercise, port, ship, residence, facility, or other site. tools. SecurePC(TM) and NetOFF(TM) products enable companies to enforce security policies from a single point of control. Citadel's solutions enable organizations to ensure the confidentiality of information, reduce the time and costs associated with the inefficient manual remediation process, and facilitate compliance with organizational security policies and government mandates such as FISMA FISMA Federal Information Security Management Act of 2002 FISMA Federal Information System Management Act , HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, and Gramm-Leach-Bliley legislation. For more information on Citadel, visit www.citadel.com, or contact the company at (214) 520-9292. Safe Harbor/Forward-looking Statements: This press release contains forward looking statements that are subject to risks and uncertainties, including the current economic and geopolitical ge·o·pol·i·tics n. (used with a sing. verb) 1. The study of the relationship among politics and geography, demography, and economics, especially with respect to the foreign policy of a nation. 2. a. environment, the current information technology spending trend, the uncertainty of funding of government information technology security projects, a lack of Citadel operating history, uncertainty of product acceptance, uncertainty of ability to compete effectively in a new market and the uncertainty of profitability and cash flow of Citadel, competition, intellectual property rights and dependence on key personnel. These risks and uncertainties may cause actual outcomes and results to differ materially from expectations in this press release. These and other risks are detailed in Citadel's quarterly report on Form 10-QSB filed for the quarter ended March 31, 2004 and the annual report on Form 10-KSB filed for the year ended December 31, 2003. Editors Note: Citadel is a trademark and Hercules is a registered trademark of Citadel Security Software Inc. |
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