HS Capital Corporation posts mixed results

Published 25 April 2007

Holder of Compass, Nexus, and Security Holdings reports losses of $5.8 million on $8.7 million in revenue

Mixed results for Virginia-based Homeland Security Capital Corporation(HSCC), which has made acquiring small but talented start-ups its bread and butter. The company is known for its ownership of such ventures as Compass Technologies, Nexus Technologies Group, and Security Holdings (itself the owner of a number of companies), and it is on the strength of the latter two that HSCC reports $8.7 million in revenues for 2006. Unfortunately, it also reported losses of $5.8 million, with $2.1 million of that being spent on various charges due to amortization of debt, interest, and debenture financing. HCCC, we should mention, is headed by former Maryland congressman C. Thomas McMillen, and he remain sunnily optimistic. “We were pleased to achieve a revenue run rate of nearly $14 million in the fourth quarter. We look forward to 2007 as we continue to move toward operational profitability.”