Garda World Security Corporation
TSX : GW

Garda World Security Corporation

November 26, 2008 09:01 ET

Garda Provides Market Update And Outlook on its Operations

Expecting Sustained Performance for the Second Half of the Year Despite Economic Slowdown

MONTREAL, QUEBEC, CANADA--(Marketwire - Nov. 26, 2008) - Garda World Security Corporation (TSX:GW) (Garda), one of the most trusted consulting, investigation and security firms in the world, announces today its outlook on the performance of its U.S. and international business units, current market conditions and its compliance to the conditions enacted in its present credit agreements.

Garda Cash Logistics in North America is experiencing sustained performance despite the economic slowdown. Customers are witnessing strong increases in cash circulation as a result of less consumer use of credit cards, typical in difficult economic times. Garda Cash Logistics is well positioned competitively to weather current economic conditions thanks to an efficient cost structure and to an experienced team.

"I am confident that the good performance we are currently experiencing will continue through the remainder of the year," said Richard "Dick" Drutman, President of Garda Cash Logistics. "Cash is the lifeblood of the U.S. economy and our customers recognize the value and importance of our cash processing and management solutions in this period of economic uncertainty."

GardaWorld's international risk consulting and security services group is reporting a good operational performance and increased demand for its services in emerging markets internationally. "We have been successful in obtaining a number of new mandates and our pipeline of new business is strong" noted LeMarque Sheppard, President of GardaWorld.

"We believe the fundamentals of our business units are solid. They are performing well in this difficult environment. We think such performance is the result of our team's quality execution which reinforces our conviction that the security and cash logistics industries are not significantly affected by the economic downturn," said Garda Senior Vice President and CFO Francois Rodrigue. "The Corporation will honor its present obligations towards its financial partners as enacted in its credit agreements and is diligently working to manage its corporate debt at the corporation's holding level."

Third quarter results will be released as expected on December 15, 2008.

About Garda

Garda (TSX:GW), the fifth largest integrated physical security and cash logistics firm worldwide on an annualized revenue basis, is well known for addressing complex security and investigations issues. As a leading provider in consulting, investigation and security services, Garda is recognized as one of the fastest growing companies with operations across Canada and the United States, Latin America, Europe, the Middle East, Africa, and Asia. With approximately 50,000 dedicated professionals, Garda offers integrated solutions in cash logistics, physical security, consulting and investigations, and enterprise intelligence services. Its team includes specialists and some of the most highly qualified and best-trained experts in the industry. For more information, visit: http://www.gardaglobal.com and http://www.garda-world.com.

FORWARD-LOOKING INFORMATION - This press release contains forward-looking statements reflecting Garda objectives, estimates, expectations and the impact of acquisitions on Garda's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Garda's projections or expectations.

Contact Information

  • Garda World Security Corporation
    Joe Gavaghan
    Director, Corporate Communications
    617-848-5484
    617-283-4936 (Cell)
    joe.gavaghan@gardaglobal.com
    or
    Garda World Security Corporation
    Nathalie de Champlain
    Vice President, Communications
    514-281-2811 x 2800
    800-859-1599 x 2800
    ndechamplain@gardaglobal.com