HERNDON, Va., Jan. 6, 2015 (GLOBE NEWSWIRE) -- Command Security Corporation (NYSE MKT:MOC) announced today the award of two United States Postal Service (USPS) contracts valued at approximately $250 million over a ten year term of service.
On December 31, 2014, Command Security Corporation received notification of the award of an approximate $20 million per year contract to provide security services at 50 USPS locations in 18 states, Puerto Rico and the District of Columbia. The award includes a four year base contract and three two-year options. The Company has commenced a one month transition period and will assume operational responsibility on February 1, 2015.
In addition, the USPS awarded the Company an approximate $5 million per year contract to operate the two USPS National Law Enforcement Communication Centers (NLECC) at Dulles International Airport, VA and in Ft. Worth, TX. The Company will commence a one month transition period for this contract on February 1, 2015, and will assume operational responsibility on March 1, 2015.
Todd Pratt, Vice President, Sales and Marketing said, "This is a major success for our team and represents the largest single contract ever awarded to the Company. It represents an affirmation of our strategic plan and positions the Company to compete for other major contracts."
"We are honored to have been selected by the USPS for this important contract to provide for their security needs across the country," said Craig P. Coy, Chief Executive Officer. "Our operational and support staff teams have worked very hard to enable the Company to secure this opportunity and we look forward to a long and successful relationship with the USPS."
About Command Security Corporation
Command Security Corporation and its Aviation Safeguards division provides uniformed security officers, aviation security services and support security services to commercial, financial, industrial, aviation and governmental customers throughout the United States. We safeguard against theft, fraud, fire, intrusion, vandalism and the many other threats that our customers are facing today. By partnering with each customer, we design programs customized to meet their specific security needs and address their particular concerns. We bring years of expertise, including sophisticated systems for hiring, training, supervision and oversight, backed by cutting-edge technology, to every situation that our customers face involving security. Our mission is to enable our customers to operate their businesses without disruption or loss, and to create safe environments for their employees. For more information concerning our company, please refer to our website at www.commandsecurity.com.
This announcement by Command Security Corporation (referred to herein as the "Company") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and within the meaning of the Private Securities Litigation Reform Act of 1995 about the Company that are based on management's assumptions, expectations and projections about the Company. Such forward-looking statements by their nature involve a degree of risk and uncertainty. The Company cautions that actual results of the Company could differ materially from those projected in the forward-looking statements as a result of various factors, including but not limited to the factors described under the heading "Risk Factors" in the Company's most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2014, filed with the Securities and Exchange Commission, and such other risks disclosed from time to time in the Company's periodic and other reports filed with the Securities and Exchange Commission. You should consider the areas of risk described above in connection with any forward-looking statements that may be made by the Company. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosures the Company makes in proxy statements, quarterly reports on Form 10-Q, annual reports on Form 10-K and current reports on Form 8-K filed with the Securities and Exchange Commission, which are publicly available at the Securities and Exchange Commission's website at www.sec.gov/edgar.shtml.
CONTACT: COMPANY CONTACT: N. Paul Brost, Chief Financial Officer Command Security Corporation Ph. 703-464-4735
Source:Command Security Corporation