Security Stocks; United Protection Security Group Inc. (TSX-V: UZZ) - Q3 - RESULTS
EDMONTON - November 21, 2011 (InvestorIdeas.com Newswire) - F.V.Ramsoondar, Chief Executive Officer of United Protection Security Group Inc. ("UPSG" or the "Company"), (TSX-V:UZZ) is pleased to announce that the Company has released its Q3- 2011 results.
F.V.Ramsoondar states: "The quarter ended September 30, 2011 continued to reflect the results of the restructuring and cost management that was initiated earlier in the year. My focus will be to continue to build profitability back into the Company, which will enable my team to deliver on our growth strategies.
(1) EBIITDA = Earnings before interest, impairment, taxes, depreciation and amortization
(2) EBIITDAS = Earnings before interest, impairment, taxes, depreciation and amortization and share-base payments.
Revenue was $8,758,376 for the third quarter 2011 compared to $8,496,968 for the comparative period, an increase of $261,408 or 3.08%. The increase in revenue is primarily related to sales and marketing efforts the Company deployed over the last two financial quarters.
Gross margin was $1,635,321 (18.67%) for the third quarter 2011 compared to $1,463,313 (17.22%) for the comparative period. The increase in gross margin is attributed to controlling overtime costs and managing other operational costs effectively.
Operating costs remain consistent at $7,123,055 for the third quarter 2011 compared to $7,033,655 for the quarter 2010.
Selling and administrative expenses ("S&A")
S&A totalled $1,233,212 for the third quarter 2011 compared to third quarter 2010 at $1,407,511, reflecting a decrease of $174,299 or 12.38%, the direct impact of the management cost-restructuring plan implemented in May 2011.
Stock Awareness Activities
To find out more about United Protection Security Group Inc. (TSX-V: UZZ), visit our website at www.unitedprotection.com. To join the 'request for information', go to the web page www.unitedprotection.com and click the tab 'request information' and follow the prompts.
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks related to business development and retention, and risks related to the current economic and credit conditions. These risks are discussed in the Company's Management Discussion and Analysis and other continuous disclosure documents. As a result, actual results may vary materially from those described in the forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For additional investor and media relations inquiries contact:
Fredy Ramsoondar CEO and Director
Disclosure: UZZ is a paid advertising client on Investorideas.com and our defense portals.