Garda World Security Corporation

Garda World Security Corporation

June 10, 2013 10:02 ET

Garda World Security Corporation Announces Preliminary Results for the Fiscal Quarter Ended April 30, 2013

MONTREAL, QUEBEC--(Marketwired - June 10, 2013) - Garda World Security Corporation ("GardaWorld"), a leading cash logistics and security solutions company, announced today preliminary results for the quarter ended April 30, 2013. Although GardaWorld has not yet finalized its financial results for the period, the company is announcing its preliminary results in connection with its previously announced private offering of securities. The company intends to release its quarterly results for the fiscal quarter ended April 30, 2013 on or about June 30, 2013.

For the fiscal quarter ended April 30, 2013, GardaWorld anticipates that revenue will be between CA$340 million and CA$350 million, compared with CA$321 million in the fiscal quarter ended April 30, 2012. GardaWorld expects that its Adjusted EBITDA will be between CA$35 million and CA$39 million for the fiscal quarter ended April 30, 2013, compared with CA$35 million in the fiscal quarter ended April 30, 2012. Further, GardaWorld anticipates that in connection with its previously announced private offering of securities, for the purposes of calculating Adjusted EBITDA, it will recognize approximately CA$10.7 million of EBITDA in connection with certain acquisitions and dispositions completed during the fiscal year ended January 31, 2013 and thereafter.

The financial data presented above are preliminary, based upon GardaWorld's estimates and are subject to revision based upon the company's financial closing procedures and the completion of its financial statements. GardaWorld's actual results may be materially different from its estimates. In addition, these estimated results are not necessarily indicative of the company's results for the full fiscal year or any future period.

About GardaWorld

Headquartered in Montreal, Canada, GardaWorld provides business solutions and security services around the world. Our 45,000 highly trained, dedicated professionals serve clients throughout North America, Latin America, Europe, Africa, Asia and the Middle East. We work across a broad range of sectors, including natural resources, retail, construction, telecommunications and manufacturing, and on behalf of companies, governments and humanitarian relief organizations.

Forward Looking Statements and Non-IFRS Financial Measures

EBITDA and Adjusted EBITDA are not measures calculated in accordance with IFRS, EBITDA and Adjusted EBITDA are measures commonly used by financial analysts in evaluating a company's performance and/or ability to service and/or incur indebtedness.

Information provided and statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to GardaWorld'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 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 GardaWorld 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 GardaWorld 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 GardaWorld 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.

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