Wymoo Beats Forecasts for International Background Checks
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Mon, 02 Nov 2009 21:49:28 GMT |
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Wymoo International |
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Press Release |
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JACKSONVILLE, FL -- 11/02/09 --
Wymoo International, a leading background
check and global private investigation company, reported today that third
quarter results exceeded the firm's forecasted growth in international background check services.
The Company is on target to beat expectations for annual growth in its
private investigation business.
Third quarter operating results were driven by increased demand for
background checks and a rebound in international due diligence cases. The
increase in individual client case loads in North America, Europe and
Australia more than offset the drop in pre-employment screening from the
economic downturn. The strong quarter should enable the firm to achieve a
30% growth rate for 2009, despite the global recession and drop in
worldwide hiring.
"The Company is achieving positive trends in earnings, growth and market
share," said Brent Cinnamond, President and CEO. "The focus on hiring the
best professional field investigators in high risk regions around the world
has positioned the firm to take advantage of any rise in demand for international private investigators. As
of September 30, we reached record case volumes for new business contracts
and individual clients." As part of its business plan, Wymoo remains
focused on expert investigation techniques and client service.
The firm's focus on developing markets has enabled Wymoo® to deliver
above industry average profit margins, and to capitalize on the initial
economic recovery in developing nations. In addition, elevated fraud risk
and scam cases have fueled demand in regions where Wymoo is a market
leader, such as Asia, Latin America, Africa and Eastern Europe.
Projections for 2010 are calculated at a 20% growth rate, based on the
level of internet scams and fraud, dating
background checks, infidelity cases, increases in foreign hiring and
due diligence. Wymoo's focus on client service and professional field
investigators continues to earn the firm market share in the private
investigation and background check industry. Any recovery in global hiring
should further support the firm's high growth rate.
About Wymoo International
Wymoo International, LLC is an industry leader in international private
investigations and global
background checks. The firm specializes in verifying business and
personal relationships for individuals and organizations around the world.
The Florida based company provides due diligence, background checks,
surveillance, infidelity investigations, fraud and scam screening, and
missing person searches. Wymoo currently offers confidential investigation
services in over 100 countries. For more information, visit www.wymoo.com.
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