Command Security Corporation (MOC) saw its loss narrow to $0.21 million, or $0.02 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $0.67 million, or $0.07 a share.
Revenue during the quarter grew 27.22 percent to $42.67 million from $33.54 million in the previous year period. Gross margin for the quarter expanded 93 basis points over the previous year period to 11.03 percent. Operating margin for the quarter stood at negative 0.83 percent as compared to a negative 3.04 percent for the previous year period.
Operating loss for the quarter was $0.35 million, compared with an operating loss of $1.02 million in the previous year period.
Craig P. Coy, chief executive officer of Command Security, said, "The events of this fiscal year and in particular this past quarter have demonstrated the transition underway in our industry and with our Company. Industry consolidation has accelerated over the past year which has impacted our company both directly and indirectly. There are fewer national competitors which has opened new opportunities for us while the very large security companies focus their efforts on integration and assimilation challenges."
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