LAGRANGEVILLE, N.Y. -- Command Security Corporation (NASDAQ:CMMD) reported that revenue increased to $16,117,665 in its first fiscal quarter ended June 30, 2000, a 20.3 percent increase from the $13,402,632 recorded in the year-earlier quarter.
According to the company, the majority of the increase is a result of the addition of new accounts within the commercial airline, general commercial, and hospital related industries. In addition, there was a substantial increase in revenues generated from the servicing of new ATM sites.
Gross profit, as a percentage of revenue, was 16.6 percent for the quarter, compared with 18.4 percent for the 1999 quarter. The decrease in gross profit percentage can be attributed to higher labor costs and overtime which is partially due to tight labor markets, the company said. Gross profit, as a percentage of revenues for the fiscal year ended March 31, 2000, was 16.9 percent.
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