GVI Security turns Q1 profit

SSN Staff  - 
Tuesday, May 1, 2007

CARROLLTON, Texas--GVI Security, North American distributor of Samsung security products, announced a net loss of $7.9 million for 2006, but new management, led by Steve Walin and Joe Restivo, seems to be turning the company around. GVI reported an expected Q1 2007 net profit of between $50,000 to $150,000. This compares to a $6.5 million net loss in Q4 2006. Restivo attributed the turnaround to financial restructuring, cost controls and discontinuation of non-core efforts.