Board of Directors of Command Security Authorizes Additional Purchase of Its Common Stock.LAGRANGEVILLE, N.Y.--(BUSINESS WIRE)--Nov. 11, 1999-- Command Security Corporation (Nasdaq:CMMD CMMD Ceramic Metal Matrix Diaphragm CMMD Command ) announced today that its Board of Directors has authorized the purchase of an additional 100,000 shares of its common stock. The Board had announced its intention to purchase the initial 100,000 shares on October 12, 1999. As of November 9, 1999 the company had purchased 81,800 of those 100,000 shares. These purchases will be made in the open from time to time depending on market conditions. William C. Vassell, Chairman of Command said, "The Board continues to feel that our common stock is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. in view of our improving fundamentals as evidenced by our recent quarterly results. We announced on November 1, 1999 that the Company had earned $.07 per share for the quarter and $.10 for the first six months. We are also pleased that our senior lender again granted us a waiver from the standard covenants in our loan agreement to allow us to continue to take advantage of this opportunity." The Company also announced that it has filed its 10-Q for the quarter ended September 30, 1999 today. Statements in this press release other than statements of historical fact are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ." Such statements are subject to certain risks and uncertainties including the demand for the Company's services, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience , and other risk factors identified from time to time in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ materially from any forward looking statements. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. Command Security Corporation provides security services Security services are state institutions for the provision of intelligence, primarily of a strategic nature, but also including protective security intelligence. Examples include the Security Service (MI5) and the Secret Intelligence Service (MI6) in the United Kingdom, and the through company-owned offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey, California, Illinois, Connecticut, Florida, Georgia, Massachusetts and Pennsylvania and provides services to independent security companies nationwide. |
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