Argyle Security, Inc. Announces Second Quarter 2008 Financial Results

Second Quarter 2008 Adjusted Pro Forma Financial Highlights vs. Second Quarter 2007 -- Revenues Increased by 66% to $36.5 Million -- Gross Profit Rose by 25% to $7.3 Million -- EBITDA...


The presentation of Adjusted Pro Forma Results and EBITDA is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.

About Argyle Security, Inc.

Formed in 2005 and headquartered in San Antonio, TX , Argyle Security's goal is to become a leading global provider of services and solutions in the physical electronic security industry through an integrated buildup strategy. Argyle's channel focus is Video Surveillance, Access Control, Perimeter Protection, Intrusion Protection, Fire Detection and Threat Analysis, serving selected commercial, governmental and residential markets.

In July 2007 , Argyle acquired ISI Security Group. In February 2008 , Argyle formed Argyle Security USA, which encompasses the former ISI Security Group's operations in both the corrections and commercial sectors, plus the PDI, Com-Tec and FireQuest acquisitions. Argyle Security, Inc. currently has two reporting segments: Argyle Corrections Group and Argyle Commercial Security Group.

Argyle Corrections Group is the controlling entity for ISI, PDI, Com-Tec and MCS. Argyle Corrections Group is one of the nation's largest providers of detention equipment products and service solutions, as well as turnkey, electronic security systems. These systems include unique engineering competencies and proprietary software products. Argyle Commercial Security Group focuses on the commercial security sector and provides turnkey, electronic security systems to the commercial market. Currently, MCS-Commercial Fire & Security is the only member in Argyle Commercial Security Group.

Please visit http://www.argylesecurity.com/ or http://www.argylesecurityusa.com/ for additional information on Argyle Security and Argyle Security USA.

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Certain statements in this press release constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, as amended. When used in this press release, words such as "will," "believe," "expect," "anticipate," "encouraged," "estimate," "intend," "plan," "project," "target," "can," "could," "may," "should," "would," and similar expressions, as they relate to the company or its management, as well as assumptions made by and information currently available to the company's management identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry may differ materially from those made in or suggested by the forward-looking statements contained herein. These forward-looking statements are subject to numerous risks, uncertainties and assumptions. The forward-looking statements herein speak only as of the date stated herein and might not occur in light of these risks, uncertainties, and assumptions. The company undertakes no obligation and disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additional information concerning forward-looking statements is contained under the heading of risk factors listed from time to time in the company's filings with the U.S. Securities and Exchange Commission.

SOURCE Argyle Security, Inc.