Garda World Security Corporation

Garda World Security Corporation

February 26, 2010 08:00 ET

Garda Provides Update on Year-End Results

MONTREAL, QUEBEC, CANADA--(Marketwire - Feb. 26, 2010) - Garda World Security Corporation (TSX:GW)(Garda), one of the most trusted Cash Logistics, Physical Security and Global Risk Consulting firms in the world, announced today an update on its financial results for the fiscal year ended January 31, 2010.

For the fourth fiscal quarter ended January 31, 2010, we anticipate that revenue will be in the range of C$263 million to C$273 million, with full year revenue anticipated to be in the range of C$1,079 million to C$1,089 million. We expect that our fourth fiscal quarter Adjusted EBITDA will be in the range of C$34 million to C$38 million, with full year Adjusted EBITDA expected to be in the range of C$126 million to C$131 million. Net income (loss) and reconciliation of anticipated Adjusted EBITDA to net income (loss) cannot be provided at this time because the relevant line items in our income statement have not been finalized with sufficient certainty. Full year Adjusted EBITDA consists of EBITDA with an add-back for non-cash, stock-based compensation of C$3.8 million.

Year-end financial results will be released as expected in April 2010.


These estimates constitute forward-looking statements and are based upon our preliminary internal estimates of our year-end performance. These estimates may be subject to adjustments in connection with our routine year-end procedures. Our actual results for fiscal year 2010 and for future periods may differ materially from our current estimates, including those stated above. In addition, our financial statements for fiscal year 2010 have not yet been audited by our independent public accountants. Accordingly, investors are cautioned not to place undue reliance on the foregoing guidance. The forward-looking information contained in this release is presented for the purposes of assisting our securityholders and analysts in understanding our financial position as at the date of this release and may not be appropriate for other purposes.

Forward-looking information may relate to Garda's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters that are not historical facts. In particular, statements regarding the company's fourth quarter and full year revenue and Adjusted EBITDA, future operating results and economic performance and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which Garda believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to the company, they may prove to be incorrect. The company cautions the reader that the current economic conditions make forward-looking information and the underlying assumptions subject to greater uncertainty and that, consequently, they may not materialize, or the results may significantly differ from the company's expectations. It is impossible for Garda to predict with certainty the impact that the current economic may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Garda currently expects. These factors include technological changes, changes in market and competition, governmental or regulatory developments, general economic conditions, the development of new services, the enhancement of existing services, and the introduction of competing products having technological or other advantages, many of which are beyond the company's control. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, the company is under no obligation (and expressly disclaims any such obligation), and does not undertake to update or alter this information before the next quarter.


Garda (TSX:GW) is a global provider of cash logistics, global risk consulting and physical security services with headquarters in Montreal, Canada. The firm's 45,000 dedicated professionals, among the most highly qualified and best-trained in the industry, serve clients in countries throughout North America, Europe, Latin America, Africa, Asia, and the Middle East. The company's decentralized management philosophy and structure encourages employees to be entrepreneurial and performance-driven in their approach to client service and the pursuit of excellence in all they do. Garda's global experts take the time to fully understand their clients' business goals and objectives in order to customize solutions with strong local engagement that meet their needs. As a result, clients can improve operational performance and meet their corporate obligations. With proven experience and a commitment to ensuring the highest ethical standards in everything the Corporation does, Garda has earned a reputation for integrity, leadership, and uncompromising safety standards. Most importantly, Garda is a firm in which businesses, governments, and individual clients place their trust. For more information, visit:, and

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