September 2, 2010 / 12:51 PM / 8 years ago

CORRECTED - CORRECTED-UPDATE 1-Canada's Garda World Q2 results beat market e

(Corrects last paragraph to show that shares have been flat over the past three months, not down 10 percent)

* Q2 EPS C$0.17 vs est C$0.16

* Revenue up 3 pct

* Results boosted by increased contracts

Sept 2 (Reuters) - Garda World Security Corp GW.TO posted higher second-quarter results beating market estimates, helped by increased contracts at its physical security and cash logistics segments.

Garda, which provides armored cars, cash-handling services, and automated teller machine maintenance, posted a net income of C$5.3 million ($5.05 million), or 17 Canadian cents per basic share, up from net income of C$4 million, or 13 Canadian cents per basic share, last year.

The company, which operates across three segments — cash logistics, physical security and global risk consulting — said organic growth at its physical security segment rose 17 percent, boosted by new contracts and enhanced measures at Canadian airports.

Garda also said it secured several multi-year contracts with leading Canadian and United States-based financial institutions for a total of C$340 million.

The company, which also has operations in Latin America, Europe and the Middle East, said revenue rose 3 percent to C$280 million.

Analysts on average had forecast earnings of 16 Canadian cents a share on revenue of C$279.8 million according to Thomson Reuters I/B/E/S.

Shares of the Montreal-based company, which have been flat over the past three months, closed at C$8.15 Wednesday on the Toronto Stock Exchange. ($1=1.050 Canadian Dollar) (Reporting by Isheeta Sanghi in Bangalore; Editing by Jarshad Kakkrakandy) ((; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below