SOURCE: Wymoo International

international-background-checks

November 02, 2009 16:48 ET

Wymoo Beats Forecasts for International Background Checks

JACKSONVILLE, FL--(Marketwire - November 2, 2009) - Wymoo International, a leading background check and global private investigation company, reported today that third quarter results exceeded the firm's forecasted growth in international background check services. The Company is on target to beat expectations for annual growth in its private investigation business.

Third quarter operating results were driven by increased demand for background checks and a rebound in international due diligence cases. The increase in individual client case loads in North America, Europe and Australia more than offset the drop in pre-employment screening from the economic downturn. The strong quarter should enable the firm to achieve a 30% growth rate for 2009, despite the global recession and drop in worldwide hiring.

"The Company is achieving positive trends in earnings, growth and market share," said Brent Cinnamond, President and CEO. "The focus on hiring the best professional field investigators in high risk regions around the world has positioned the firm to take advantage of any rise in demand for international private investigators. As of September 30, we reached record case volumes for new business contracts and individual clients." As part of its business plan, Wymoo remains focused on expert investigation techniques and client service.

The firm's focus on developing markets has enabled Wymoo® to deliver above industry average profit margins, and to capitalize on the initial economic recovery in developing nations. In addition, elevated fraud risk and scam cases have fueled demand in regions where Wymoo is a market leader, such as Asia, Latin America, Africa and Eastern Europe.

Projections for 2010 are calculated at a 20% growth rate, based on the level of internet scams and fraud, dating background checks, infidelity cases, increases in foreign hiring and due diligence. Wymoo's focus on client service and professional field investigators continues to earn the firm market share in the private investigation and background check industry. Any recovery in global hiring should further support the firm's high growth rate.

About Wymoo International

Wymoo International, LLC is an industry leader in international private investigations and global background checks. The firm specializes in verifying business and personal relationships for individuals and organizations around the world. The Florida based company provides due diligence, background checks, surveillance, infidelity investigations, fraud and scam screening, and missing person searches. Wymoo currently offers confidential investigation services in over 100 countries. For more information, visit www.wymoo.com.