Command Security Corp. (MOC) Awarded Aggregate $250M of USPS Contracts

January 6, 2015 10:59 AM EST

Command Security Corp. (AMEX: MOC) shares have nearly doubled Tuesday after the company announced the award of two United States Postal Service (USPS) contracts valued at approximately $250 million over a ten year term of service.

On December 31, 2014, Command Security Corporation received notification of the award of an approximate $20 million per year contract to provide security services at 50 USPS locations in 18 states, Puerto Rico and the District of Columbia. The award includes a four year base contract and three two-year options. The Company has commenced a one month transition period and will assume operational responsibility on February 1, 2015.

In addition, the USPS awarded the Company an approximate $5 million per year contract to operate the two USPS National Law Enforcement Communication Centers (NLECC) at Dulles International Airport, VA and in Ft. Worth, TX. The Company will commence a one month transition period for this contract on February 1, 2015, and will assume operational responsibility on March 1, 2015.

Todd Pratt, Vice President, Sales and Marketing said, "This is a major success for our team and represents the largest single contract ever awarded to the Company. It represents an affirmation of our strategic plan and positions the Company to compete for other major contracts."

"We are honored to have been selected by the USPS for this important contract to provide for their security needs across the country," said Craig P. Coy, Chief Executive Officer. "Our operational and support staff teams have worked very hard to enable the Company to secure this opportunity and we look forward to a long and successful relationship with the USPS."

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