Command Security announces third quarter results.LAGRANGEVILLE, N.Y.--(BUSINESS WIRE)--Feb. 27, 1995--Command Security Corp. (NASDAQ:CMMD CMMD - Ceramic Metal Matrix Diaphragm) today announced its results for the third quarter ended Dec. 31, 1994. The company's increase in revenue for the quarter and nine month's ended Dec. 31, 1994 over the same period in 1993, reflects the addition of the security guard businesses of ISS International Service Systems Inc. and Madison Detective Bureau Inc. Growth through selective acquisition will continue to be pursued by Command. William C. Vassell, president of Command, stated, "Despite the apparently lackluster results for the period, we are very encouraged by the prospect of acquiring United Security Group ("USG USG - l'Union Socialiste de Gabonaise (Gabonese Socialist Union; political party) USG - Ultrasonography USG - Ulysses S. Grant (president and general) USG - Under Secretary General USG - Undergraduate Student Government USG - Undoped Silica Glass USG - Undoped Silicate Glass USG - Unión Solidarista Guatemalteca (Guatemalan Solidarity Union) USG - United States Gallon USG - United States Gauge (Sprint) USG - United States Government"), an approximately $25 million (annual revenue) security guard company based in New York City. Although not reflected significantly in the company's results as of the quarter's end, the cost, in terms of cashflow and management's time and energy of pursuing USG has been significant. Nevertheless, we expect to be able to close within the next several days." 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. -0-
Condensed Statements of Operations (Unaudited)
Three Months Ended Six Months Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
1994 1993 1994 1993
Restated Restated
Revenue $8,553,769 $8,239,928 $29,006,129 $16,481,335 Net earnings/(loss) $ 54,157 $ (101,374) $ 134,282 $ (359,802) Net earnings/(loss) per share $ .01 $ (.03) $ .03 $ (.14) Weighted average shares outstanding 4,148,971 3,492,574 3,980,706 2,570,566 CONTACT: Command Security Corp. Gordon Robinett, 914/454-3703 |
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