Well I still like this one and think that the company has a great future however what an odd news release. Oh well I quess i will hold for now and wait to see if they get anything from the Olympics.
Please do your due diligence.
United Protection does not provide 2008 profit or loss
United Protection Security Group Inc(C:UZZ)
Shares Issued 63,240,136
Last Close4/6/2009 $0.155
Tuesday April 07 2009 - News Release
Mr. S. Jorstad reports
UNITED PROTECTION SECURITY GROUP INC.: RELEASE OF YEAR-END RESULTS ANDCONFERENCE CALL ON APRIL 9, 2009
United Protection Security Group Inc. has released its Dec. 31, 2008,year-end and fourth quarter financial results.
S.Jorstad, chairman and chief executive officer, is pleased to reportthat in spite of the collapsing of the global economy in the latterhalf of 2008, and in particular that of the U.S and its ripple effecton Canada specifically, the Company had a strong year. Revenues were upapproximately 26% and in spite of the pressure on margins; the Companywas able to generate an acceptable operating profit of approximately 3%under the current circumstances.
Mr. Jorstad further states thata strong regional focus in Western Canada with an international andregional client mix and a strong management team provides the basis forcontinuing positive growth in 2009.
F.Ramsoondar, CFO states thatthe Company maintained progress in adding positive results toshareholders' equity in 2008, despite expensing of the one-timeacquisition investigation costs of $286,619. The Company's objective isto continue to add equity to its balance sheet.
The Company willhost a conference call at 11:00 a.m. MDT (13:00 EDT) on Tuesday, April14, 2009. Participants on the call will be:
- Mr. S.D.Jorstad, Chief Executive Officer;
- Mr. F.V. Ramsoondar, Chief Financial Officer; and
- Mr. A. Mahdavi, Investor Relations
Participantscalling from Canada or the United States should call toll-free:1.866.305.1460, access code #4010621. For those who will not be able toattend, a webcast recording will be available on UPSG's website,www.unitedprotection.com.
© 2009 Canjex Publishing Ltd.