SParikh wrote: This article speaks true to the importance and capitalizing of the cloud. Me having experience dealing with cloud based tech and consulting and integration services, I realize the need for a secure and consistant cloud service. Many people are concerned with the privacy, or lack thereof, that could occur with storing personal documents into a non-physical storage unit. I can see, though with companies such as ours and Metacloud, we are working toward a more secure and easy to use cloud system for both personal and professional use.
Spursh Parikh
www.sererra.com
In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
EDMONTON, Nov. 30, 2012 /CNW/ - F.V.Ramsoondar, President and Chief
Executive Officer of United Protection Security Group Inc. (UPSG or the
Company), (TSXV: UZZ) is pleased to announce that the Company has
released its Q3- 2012 results.
UPSG PERFORMANCE Q3
a)
Revenue
Revenue was $11,162,502 for the quarter ended September 30, 2012
compared to $8,758,376 for the comparative quarter, an increase of
$2,404,126 or 27.45%. Acquisitions in the current year have been a
significant reason for the increase in revenue. The Company expects
that its future operating results may be subject to quarterly and
annual fluctuations resulting from a variety of factors, including
market conditions, changes in customers and geographic distribution.
In the Electronic Security division, revenues are primarily derived
from the number of new installation and monitoring contracts.
b)
Gross margin
Gross margin was $2,327,090 (20.85%) for the quarter ended September 30,
2012, compared to $1,635,321 (18.67%) for the comparative quarter. In
2011, the Company outsourced some of its operations to a subcontractor
and therefore accounted for the costs as cost of sales. This
arrangement has ended in the current year, resulting in a decrease in
cost of sales and an increase in overhead costs in the quarter compared
to the three months ended September 30, 2011. The improvement in the
gross margin also arose due to synergies utilized in the Ontario
operations in 2012.
c)
Selling, general and administrative expenses ("SG&A")
SG&A totalled $1,615,972 for the current quarter, compared to $1,225,926
for the quarter ended September 30, 2011, an increase of $390,046 or
31.82%. The increase is attributed to the change in the subcontractor
arrangement noted above, as well as increased overhead in support of
the Company's expanding scope of operations. Management will continue
to review SG&A for additional cost reduction opportunities.
Quarter ended
Sept 30,
2012
2011
Revenue
$
11,162,502
$
8,758,376
EBIITDAS
711,118
409,395
Net income
235,539
230,374
Reconciliation of EBIITDA and EBIITDAS
Quarter ended Sept 30,
2012
2011
Net income
$
235,539
$
230,374
Add:
Income taxes (recovery)
17,000
(63)
Finance costs
233,814
59,837
Depreciation and amortization
224,765
141,961
EBIITDA
711,118
432,109
Add:
Other gains (losses)
-
(30,000)
Share-based compensation
-
7,286
EBIITDAS
$
711,118
$
409,395
UPSG PERFORMANCE Q3 YEAR TO DATE
a)
Revenue
Revenue was $31,452,140 for the nine months ended September 30, 2012
compared to $25,267,648 for the comparative period, an increase of
$6,184,492 or 24.48%. Organic growth and acquisitions have been the
primary reasons for the increase in revenue. The Company expects that
its future operating results may be subject to quarterly and annual
fluctuations resulting from a variety of factors, including market
conditions, changes in customers and geographic distribution. In the
Electronic Security division, revenues are primarily derived from the
number of new installation and monitoring contracts.
b)
Gross margin
Gross margin was $6,333,727 (20.14%) for the nine months ended September
30, 2012, compared to $4,528,350 (17.92%) for the comparative quarter.
In 2011, the Company outsourced some of its operations to a
subcontractor and therefore accounted for the costs as cost of sales.
As discussed above, the end of this subcontractor relationship in the
current year has contributed to increased gross margins. The
improvement in the gross margin also arose due to synergies utilized in
the Ontario operations in 2012 since May, 2012.
c)
Selling, general and administrative expenses ("SG&A")
SG&A totalled $4,368,800 for the current period, compared to $3,651,831
for the nine months ended September 30, 2011, an increase of $716,969
or 19.63%. Additional overhead in support of our expanding scope of
operations have been the primary reasons for the increase in SG&A.
Management will continue to review SG&A for additional cost reduction
opportunities.
Nine months ended September 30,
2012
2011
Revenue
$
31,452,140
$
25,267,648
EBIITDAS
1,964,927
876,519
Net income
723,052
268,715
Reconciliation of EBIITDA and EBIITDAS
Nine months ended September 30,
2012
2011
Net income
$
723,052
$
268,715
Add:
Income taxes (recovery)
227,800
(24,939)
Finance costs
429,784
215,225
Depreciation and amortization
584,291
434,440
EBIITDA
1,964,927
893,441
Add:
Other gains (losses)
-
(46,667)
Share-based compensation
-
29,745
EBIITDAS
$
1,964,927
$
876,519
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. 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.
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