Eastern Security (PINK:EAST)

First Quarter Results:

• Total revenue for first quarter of 2011 increased 172% to $5.2 million from $1.91 million in the first quarter of 2010.
• Gross profit increased 122% to $2.42 million, as compared to $1.09 million in the prior year.
• Net income increased 113% to $1.41 million, as compared to $0.66 million in first quarter of 2010.
• Fully diluted earnings per share increased 81% to $0.199, compared to $0.11 in the first quarter of 2010.

"The first quarter of 2011 was our first quarter as a reporting company following our merger. I am pleased to announce that the Company attained significant increases in sales and earnings in the first quarter of 2011, more than doubling revenues and net income from the first quarter of 2010. We remain excited about the prospects of continuing at this rapid pace of growth," commented Mr. Tan, Eastern Security & Protection Services, Inc.’s President, Chief Executive Officer and Chairman.

Year End 2010 Results:

"Fiscal year 2010 was a milestone year for the Company as we completed our transition from privately-owned to publicly-traded company. In addition, the appointments to our Board of Directors and Officers have further strengthened our management team. I am also pleased to announce that the Company attained significant increases in sales and earnings in 2010, more than doubling revenues and net income. We remain excited about the prospects of continuing at this rapid pace of growth," commented Mr. Tan, Eastern Security & Protection Services, Inc.’s President, Chief Executive Officer and Chairman.

• Total revenue for fiscal year 2010 increased 163% to $16.49 million from $6.27 million in fiscal year 2009.
• Gross profit increased 153% to $7.36 million, as compared to $2.91 million in the prior year.
• Net income increased 135% to $4.19 million, as compared to $1.78 million in fiscal year 2009.
• Fully diluted earnings per share were $0.588, compared to $0.25 in fiscal year 2009.