Business Services Industry
Command Security Corporation Awarded $6 Million in Security Services Contracts and Will Commence Operations in Canada
Business Wire, Feb 17, 2009
LAGRANGEVILLE, N.Y. -- Command Security Corporation (AMEX: MOC) announced today that it has been awarded three new significant contracts and has expanded its services under an existing contract to provide security services.
The three new significant contracts and expanded services were awarded with:
* A large banking and financial services organization having an annual value of approximately $0.8 million for services to be provided at locations in Connecticut and Massachusetts;
* A world leader in electronic design automation having an annual value of approximately $1.2 million for services to be provided at locations in California and Oregon;
* A worldwide innovative technology company having an annual value of approximately $3.2 million for services to be provided at locations in Colorado, Massachusetts, Texas and Ontario, Canada; and
* One of the world's largest banking and financial services organizations having an incremental annual value of approximately $.6 million for services to be provided at locations primarily in New York City.
These contracts are in addition to the many contracts and contract renewals that we have entered into over the past several months in the ordinary course of our business. We begin providing our security services under all of the above awards at various dates between the middle of December 2008 and March 2009, except for operations in Ontario, Canada which are expected to commence in September 2009.
Commenting on the new contract awards, Edward S. Fleury, Chief Executive Officer of Command Security, stated, "These new contract awards broaden Command's national network of office locations and expands our geographical reach for the first time to Canada. More importantly, they reflect the efforts of our employees and the ongoing trust and confidence of our business partners in Command's service delivery. With a growing pipeline of potential new business partners, we look forward to continuing to grow by providing the highest quality service to all of our valued customers."
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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