A Net Loss for Quarter, But Getting Better for Tri-S Security

Atlanta-based contract guard services firm Tri-S Security Corporation announced results on Wednesday and while the company recorded a loss, some things were looking up. Among the bright side:

• Revenue exceeded $7.7 million for Q2 2005, up 3.7 percent
• Gross profit margin increased from 4.3 percent to 9.7 percent
• Tri-S announced a letter of intent for acquiring another contract security services company and is in the process of creating the actual agreement
• Has hired an experienced management team for its subsidiary Paragon Systems.

However, the company recorded a loss from operations for Q2 of $40,000, down from the $82,000 loss the company had felt in Q2 2004. Tri-S also noted that that the loss from operations had decreased by $290,000 between Q1 and Q2 2005.

The company reported a net loss for Q2 2005 of $133,000, which equals $0.04 per share. In the same quarter the year earlier, the company was hammered with a net loss of $402,000, which meant losses of $.49 per share.