Dallas, April 2, 2013 (GLOBE NEWSWIRE) -- COPsync, Inc., which operates the nation's largest law enforcement real-time, in-car information sharing, communication and data interoperability network, announces preliminary unaudited financial results for the fiscal year ended December 31, 2012. Annual 2012 Financial Highlights
- The Company reported a year-over-year revenue increase of 27% relating to record total revenues of $3,225,000 for 2012, compared to total revenues of $2,549,000 for 2011.
- Revenues for recurring, software subscription revenues from the COPsync network were $1,561,000 for 2012 compared to $1,205,000 for the same period in 2011, for a year-over-year increase of 30%.
- R&D expenses were $2,218,000 for 2012 compared to $712,000 for 2011, for a year-over-year increase of 212%.
- Total operating expenses, inclusive of R&D expenses, were $5,035,000 for 2012 compared to $2,957,000 for 2011, for a year-over-year increase of 70%.
- The Company reported a GAAP net loss of $4,288,000 ($0.03 per share) for 2012 compared to a net loss of $2,833,000 ($0.02 per share) for 2011.