Command Security Corporation announces first quarter results.LAGRANGEVILLE, N.Y.--(BUSINESS WIRE)--August 23, 1995--Command Security Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CMMD CMMD Ceramic Metal Matrix Diaphragm CMMD Command ) announced its results for the first quarter ended June June: see month. 30, 1995 and that the June 30, 1994 financial statements have been restated to reflect an accrual accrual, n continually recurring short-term liabilities. Examples are accrued wages, taxes, and interest. for union employee health and welfare benefits related to certain customer accounts purchased in 1993. -0- T* Condensed con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. Statements of Operations (Unaudited) For the Quarter Ended June 30, 1995 June 30, 1994 Restated Revenue $14,902,453 $8,989,349 Net (loss) (186,336) (137,118) Net (loss) per share ($0.03) ($0.04) Weighted Average shares outstanding 6,633,932 3,821,890
Revenues increased by approximately 65% over the quarter ended
June 30, 1994, and gross profit increased to 14.5% of revenue
compared to 13.3% of revenue for the comparable quarter in 1994.
Both of these increases are attributable to the acquisition of the
assets of United Security Group Inc., which was completed on
February 24, 1995.
Despite an increase in gross profit of $964,594 over the prior
year's quarter, the company sustained a loss for the quarter ended
June 30, 1995, due to high legal and professional fees related to
ongoing litigation, and increased interest expense due to higher
working capital requirements.
William C. Vassell, chairman of the board, stated, "Although the
impact on gross profit from the United acquisition was felt
immediately, the administrative savings are being phased in, as
scheduled, and should favorably impact future periods. With the
United transaction behind us, the company is now able to focus on
internal growth and expense controls, especially in the area of
general and administrative expense."
Command Security Corp. provides security services through
company-owned offices in New York, New Jersey, California,
Illinois, Connecticut, Massachusetts and Florida and provides
back-office service agreements to independent security companies
nationwide.
CONTACT: Command Security Corporation, Lagrangeville William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack C. Vassell., 914-454-3703 or H. Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a Dickinson, 212/979-8200 |
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