TRANS-CANADA WORLD SECURITY’S SALES SOAR 120% SINCE ACQUISITION OF THE GARDA SECURITY GROUP
Trans-Canada World Security Corp. announces its sales for the first quarter of fiscal 2001 ended April 30 were $13.1 million, representing approximately 120-percent growth on a pro-forma basis. The quarter ended with net earnings of $322,399, or 2 cents per share, compared with a net loss of $592,350, or 4 cents per share, in fiscal 2000. The results are the first since Trans-Canada World’s acquisition of The Garda Security Group Inc. “These financial results prove our capacity to rapidly integrate our acquisitions and provide [added] value to our shareholders. Following our acquisition of The Garda Security Group Inc. last December, our gross margin increased by approximately 20 percent and we reduced our fixed operating costs by more than $1 million on an annual basis,” says Stephan Cretier, president and CEO. “Also, our acquisition of Lister & Stop strengthens the leadership of our technology segment and establishes the corporation as a fully integrated one-stop security services provider.”
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