(TSX - V: UZZ)
EDMONTON, May 31, 2012 /CNW/ - F.V.Ramsoondar, President and 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 Q1- 2012 results.
Revenue was $8,889,120 for the quarter ended March 31, 2012 compared to $7,977,759 for the comparative quarter, an increase of $911,361 or 11.42%.
Gross margin was $1,617,980 (18.20%) for the quarter ended March 31, 2012, compared to $1,280,231 (16.05%) for the comparative quarter in 2011.
Selling, general and administrative expenses ("SG&A") SG&A totalled $1,146,166 for the current quarter, compared to $1,277,393 for the quarter ended March 31, 2011, a decrease of $131,227 or 10.27%.
|Reconciliation of EBIITDA and EBIITDAS||
Mar. 31, 2012
Mar. 31, 2011
|Net Income (loss) for the periods||$217,648||$(222,682)|
|Income taxes (recovery)||53,579||(24,400)|
|Interest and accretion||65,411||83,977|
|Depreciation and amortization||135,176||143,484|
(1) EBIITDA = Earnings before interest, impairment, taxes, depreciation and amortization
(2) EBIITDAS = Earnings before interest, impairment, taxes, depreciation and amortization and share-base payments.
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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. 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.
SOURCE United Protection Security Group Inc.