United Protection Security Group Inc.
TSX VENTURE : UZZ

United Protection Security Group Inc.

November 17, 2008 09:00 ET

United Protection Security Group Inc.: Third Quarter Results Eight Consecutive Quarters of Record Revenue

EDMONTON, ALBERTA--(Marketwire - Nov. 17, 2008) - S. Jorstad, Chairman, President and Chief Executive Officer of United Protection Security Group Inc. ("UPSG" or "the Company"), a Canadian based company, trading on the TSX Venture Exchange, under the symbol (TSX VENTURE:UZZ) reports that the Company has released its consolidated interim financial statements for the third quarter ended September 30, 2008 and the related management's discussion and analysis of financial position and results of operations ("MD&A").

Mr. Jorstad further stated: I am extremely pleased with our growth results. Operational execution during the quarter was outstanding, with notable gains in market share in British Columbia and Alberta. Looking forward, the uncertain economic landscape in North America and around the world will pose challenges, but we believe UPSG is well positioned to weather the headwinds - we have a unique business model anchored on providing a quality service at a competitive price. We will continue to pursue opportunities aggressively while maintaining a clear focus on cost control and overall service improvements to keep UPSG at the forefront of security service industry efficiency.

F.Ramsoondar, Chief Financial Officer states that the Company posted record revenue of $6,848,276 for the quarter ended September 30, 2008, compared to $5,910,550 for the same quarter last year, an increase of $937,726 or 15.9% . Net profit for the period amounted to $271,637 compared to $279,577 for the same period last year.



Normalization of EBITDA & EBITDAS

Three months Three months Nine months Nine months
ended ended ended ended
Sep. 30,2008 Sep. 30,2007 Sep. 30,2008 Sep. 30,2007

EBITDA $ 315,670 $ 389,191 $ 718,353 $ 835,221
Add:
Acquisition cost(1) --- --- 262,283 ---
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Normalized EBITDA $ 315,670 $ 389,191 $ 980,636 $ 835,221
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EBITDAS $ 315,670 $ 389,191 $ 779,067 $ 835,221
Add:
Acquisition cost(1) --- --- 262,283 ---
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Normalized EBITDAS $ 315,670 $ 389,191 $ 1,041,350 $ 835,221
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(1)Acquisition cost is described in (Note18) of the interim financial
statements for the three and nine month period ended September 30, 2008.


EBITDA equals Earnings before interest, taxes, depreciation and amortization

EBITDAS equals Earnings before interest, taxes, depreciation, amortization and stock-based compensation.

About United Protection Security Inc.

United Protection Security Group Inc. is an established security protection company; focused on high impact, high visibility, and high risk security situations, coupled with one of the broadest ranges of traditional private security services in the industry.

Delivering 21st Century Solutions to centuries old problems through a network of 'Elite Private Protection Professionals'.

United Protection Security Group Inc. is committed to providing its clients with a "superior quality service" at a competitive price. It is further committed to providing its employees and associates with the assistance, support, and opportunity to maximize their individual potential for excellence, peak performance and personal growth. It is the Company's policy and highest priority to protect the health and welfare of all its clients and employees and their respective property.

Copies of the consolidated interim financial statements, related MD&A, CEO and CFO 52-109F2 certification forms can be found on SEDAR at www.SEDAR.com.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • For further investor and media relations inquiries contact:
    Spinnaker Capital Management
    Ali Mahdavi
    (416) 402-7300
    or
    Spinnaker Capital Management
    Kevin O'Conner
    (416) 402-7300
    or
    United Protection Security Group Inc.
    8055 Coronet Road
    Edmonton, Alberta T6E 4N7
    (780) 465-1708
    (780) 463-6372 (FAX)