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Homeland Security Capital Corporation Announces Third Quarter Results

Homeland Security Capital Corporation (OTCBB: HOMS), an international provider of specialized technology-based radiological, nuclear, environmental, disaster relief, and electronic security solutions to government and commercial customers, yesterday reported financial results for the third quarter ended March 31, 2011.

Revenue for the quarter was $24.6 million compared to $23.7 million for the same period last year. Net loss for the quarter, before giving effect to preferred stock dividends, was $717 thousand or $0.01 per share compared to a net income of $1.1 million or $0.02 per share for the same period last year. Net loss attributable to common stockholders, after excluding preferred stock dividends, was $1.1 million or $0.02 per share compared to net income of $724 thousand or $0.01 per share for the same period last year. EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter was $80 thousand compared to $2.4 million for the previous year’s quarter. EBITDAS (EBITDA before stock based compensation) for the quarter was $1.1 million compared to $2.7 million in the previous year’s quarter.

Revenue for the nine months was $77.9 million compared to $71.1 million for the same period last year. Net income for the nine months, before giving effect to preferred stock dividends, was $780 thousand or $0.01 per share compared to a net income of $1.6 million or $0.03 per share for the same period last year. Net loss attributable to common stockholders, after excluding preferred stock dividends, was $423 thousand or $0.01 per share compared to a net income of $362 thousand or $0.01 per share for the same period last year. EBITDA (earnings before interest, taxes, depreciation and amortization) for the nine months was $3.6 million compared to $5.4 million for the previous year. EBITDAS (EBITDA before stock based compensation) for the nine months was $4.7 million compared to $6.2 million in the previous year’s nine months.

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