Command Security announces year end results.LAGRANGEVILLE, N.Y.--(BUSINESS WIRE)--July 2, 1996--Command Security Corp. (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 ) today announced net income for the fiscal year ended March 31, 1996 of $511,541.
Condensed Statements of Operation
For the year ended
March 31, 1996 March 31, 1995
Revenue $54,995,444 $39,595,272 Net income/(loss) 511,650(a) (2,983,823) Preferred stock dividends (119,460) 0 Net income/(loss) applicable to common shareholders $ 392,190 $ (2,983,823) Net income/(loss) per share $ 0.06 (0.70)(a) Includes net income tax benefits of $300,541 for fiscal year 1996. The company also announced that with positive working capital, profitable operating results and several disputes resolved during the fiscal year, its public accounting firm has removed the "going concern" modification in its audit report. Revenue increased by approximately 39.0% over the fiscal year ended March 31, 1995 and gross profit increased to $8,496,499 or 15.4% of revenue compared to $4,527,365 or 11.4% for the prior year. Earnings on an "EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become " basis increased by $4,253,470 to $2,812,443 for the fiscal year ended 1996 compared with a loss of $1,441,027 for the prior year. William C. Vassell, Chairman of the Board stated, "Much progress has been made during the last fiscal year, and we are looking forward to an exciting fiscal 1997." Command Security Corp. 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 California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. , Connecticut and Florida, and provides back-office service agreements to independent security companies nationwide. CONTACT: Command Security Corp. William C. Vassell, 914/454-3703 H. Richard Dickinson, 212/689-6565 |
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