Command Security Corporation Announces Financial Results
Revenues for the three months ended March 31, 2010 increased 9.8% to $35,559,206, compared with revenues of $32,397,674 in the same period of the prior year. Net income was $181,192, or $.02 per basic and diluted share compared with a net loss of $123,326, or $.01 per basic and diluted share, respectively, in the same period of the prior year. Operating income was $677,176, or 1.9%, compared to $205,745, or .6% in the same period of the prior year.
Revenues for the fiscal year ended March 31, 2010 increased 11.4% to $145,694,630, compared with revenues of $130,813,244 for the fiscal year ended March 31, 2009. Net income increased to $1,631,639, or $.15 per basic and diluted share compared with $1,281,883, or $.12 and $.11 per basic and diluted share, respectively, for the fiscal year ended March 31, 2009. Operating income was $3,704,251, or 2.5%, compared to $3,007,641, or 2.3% for the fiscal year ended March 31, 2009.
Revenue growth during the three months and fiscal year ended March 31, 2010 was primarily attributable to the following events:
|COMMAND SECURITY CORPORATION|
|Three Months Ended March 31, (Audited)||Fiscal Year Ended March 31, (Audited)|
|Provision for income taxes||399,000||204,139||1,625,700||1,264,139|
|Net income (loss)||$||181,192||$||(123,326||)||$||1,631,639||$||1,281,883|
|Net income (loss) per common share|
|Weighted average number of common shares outstanding|
|Balance Sheet Highlights||March 31, 2010||March 31, 2009|
|Total current assets||28,540,443||25,898,164|
|Total current liabilities||19,116,985||18,792,120|
|Total liabilities and stockholders’ equity||$||36,715,081||$||34,265,035|
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