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Homeland Security Capital Corporation Announces Fourth Quarter Results

Homeland Security Capital Corporation (OTCBB:HOMS), an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief, and security solutions to government and commercial customers, yesterday reported financial results for the fourth quarter and year ended June 30, 2010.

Revenue for the quarter was $26.8 million compared to $21.9 million for the same period last year. Net income for the quarter, before giving effect to preferred stock dividends, was $0.3 million or $0.01 per share compared to a net loss of $5.5 million or $0.11 per share for the same period last year. Net loss attributable to common stockholders, after excluding preferred stock dividends, was $0.1 million or $0.00 per share compared to a net loss of $5.7 million or $0.12 per share for the same period last year. EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter was $1.4 million compared to negative $0.7 million for the previous year’s quarter. EBITDAS (EBITDA before stock based compensation) for the quarter was $1.7 million compared to a negative $0.3 million in the previous year’s quarter.

Revenue for the year was $97.9 million compared to $80.8 million for last year. Net income for the year before giving effect to preferred stock dividends, was $1.9 million or $0.04 per share compared to a net loss of $9.5 million or $0.20 per share for last year. Net income attributable to common stockholders, after excluding preferred stock dividends, for the year was $0.3 million or $0.01 per share compared to a net loss of $11.5 million or $0.24 per share last year. EBITDA for the year was $6.7 million compared to a negative $1.7 million for the previous year. EBITDAS for the year was $7.8 million compared to $0.4 million for the previous year.

At June 30, 2010 there were 51,291,270 common shares outstanding.

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