American Building Control Inc. will now concentrate on providing centralized, integrated security for corporate, government and institutional markets. The change has been several months in the making, the company said, and redirection will lead to the divestment of SecurityandMore, its retail consumer products division, and IVS, its industrial distribution business.
In the March 9 announcement, the company said MDI Security Systems and ABM Data Systems operations will provide the foundation for American Building Control’s redirection.
The Rancho Cucamonga, Calif.-based MDI is a 25-year veteran in the access control, video and audio surveillance industry. Its customers include government agencies, corporations and institutions.
ABM of Austin, Texas provides alarm-monitoring systems to large, blue chip organizations.
American Building Control also released its preliminary results for the quarter and fiscal year ended Dec. 31, 2003.
The company expects quarter revenues of $7.8 million and net losses of $4.5 million. Revenues for the same quarter of 2002 hit $11.5 million and net losses, $23.5 million.
For the year, expected revenues total $39.7 million with losses of $12.5 million. The previous fiscal year reported $44.2 million in revenue and $55.6 million.
