The gross profit for the six months ended June 30, 2008 was
Gross margins for the six months ended June 30, 2008 , were 8.4% compared to 7.5% a year ago, the majority attributable to the improvement in contract profitability at Paragon.
General and administrative costs for the six months ended June 30, 2008
The operating loss for the six months ended June 30, 2008 was
EBITDA, as adjusted, was a positive
Interest expense, net, increased to
A tax benefit of
In this release, we use the non-GAAP financial measure, EBITDA, as adjusted. EBITDA, as adjusted, is calculated as earnings before interest; taxes; depreciation and amortization; non-cash stock-based compensation; start-up costs on new contracts; and other income/expense. A reconciliation of EBITDA, as adjusted, to net loss for the three and six-month periods ended June 30, 2008 and 2007, is attached to this press release.
Tri-S Security will host a conference call at 10:00 a.m. EDT on Wednesday, August 13, 2008 to discuss its second quarter results and respond to appropriate questions. Anyone interested in participating should call 877- 795-3635 approximately five to ten minutes prior to 10:00 a.m. EDT . Participants should ask for the Tri-S Security Second Quarter 2008 Financial Results conference call.
This call is being webcast by Thomson Financial and can be accessed at Tri-S Security's website at http://www.trissecurity.com. The webcast may also be accessed at Thomson's website at http://www.earnings.com. The webcast can be accessed through Wednesday September 3, 2008 on either site. To access the webcast, you will need to have the Windows Media Player on your desktop. For the free download of the Media Player, please visit: http://www.microsoft.com/windows/windowsmedia/en/download/default.asp.
About Tri-S Security Corp.
Based in Atlanta, GA , Tri-S Security Corp. (Nasdaq: TRIS) is a provider of security services and equipment for government and private entities. Security services include uniformed guards, electronic monitoring systems, personnel protection, access control, crowd control and the prevention of sabotage, terrorist and criminal activities. As a leading aggregator of elite security companies, Tri-S Security is designed to build a strong enterprise in which to service a unique customer base that ensures America's safety at home and work. Tri-S Security assumes responsibility for the marketing, infrastructure and overall operational performance for its subsidiaries. Tri-S Security's management leverages highly trained government officers, experienced industry leaders, proven financial executives and infrastructure experts to consolidate the fragmented security industry into one efficient and effective security force.