Business Services Industry
Command Security Corporation Awarded $12 Million Security Services Contract
Business Wire, April 27, 2009
LAGRANGEVILLE, N.Y. -- Command Security Corporation (NYSE Amex: MOC) announced today that it has been awarded a substantial new contract to provide security services in ten states throughout the Eastern Region of the United States.
The new contract was awarded by the world’s largest express transportation company in connection with its national selection of security services providers. This contact is expected to generate annual revenues of approximately $12.0 million for services to be provided at approximately 50 locations encompassing ten states (including the District of Columbia) throughout the Eastern Region of the United States. The Company will no longer provide security services to this customer in the Western Region of the United States, which had generated annual revenues of approximately $2.0 million.
We expect to begin providing our security services under the above contract award at various dates commencing on April 27, 2009.
Commenting on the new contract award, Edward S. Fleury, Chief Executive Officer of Command Security, stated, “We are pleased with our selection by a high profile customer to be their primary provider of security services for their locations in the Eastern Region of the United States. This new contract award would not have been possible without the exemplary services that have previously been provided to the customer by our Aviation Safeguards division in California. This award both reflects the trust and confidence of our business partners in Command’s service delivery and reaffirms our growth strategy of expanding our geographical presence and service network via a combination of organic business development and strategic acquisition opportunities.”
About Command Security Corporation
Command Security Corporation provides aviation and security services to protect buildings, assets and people through over thirty company-owned offices in fifteen states. We safeguard against theft, fraud, fire, intrusion, vandalism and the manifold threats that many of our customer’s are facing today. Partnering with each client, we design programs customized to meet specific security needs and solve problems. We bring years of expertise, including sophisticated systems for hiring, training, supervision and oversight, backed by cutting-edge technology, to every situation that our clients face involving security. Our mission is to enable businesses to operate without disruption or loss, and to create safe environments for people to work in.
Forward-Looking Statements
This announcement by contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors including the ability of the Company to successfully commercialize its new technologies as well as risk factors set forth under “Risk Factors” in the Company’s annual report on Form 10-K for the fiscal year ended March 31, 2008, and such other risks disclosed from time to time in the Company’s periodic and other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For more information concerning the Company, please refer to its website at www.commandsecurity.com and to the Edgar website www.sec.gov/edgar.shtml.
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