BURNS INTL. ANNOUNCES REVENUES WERE UP MORE THAN 4% IN 4th QUARTER 1999 AS WELL AS FULL-YEAR PERIOD
Burns International Services Corp. has reported earnings from continuing operations of $1.14 per share on a diluted basis compared with 64 cents per share in 1998 as the physical security and access control and monitoring firm revealed its fourth-quarter 1999 financial results. The company also reports full-year earnings per share after discontinued operations and extraordinary charges were 59 cents in 1999 compared to $1.21 in 1998. In addition, fourth-quarter earnings were 26 cents per share compared with 35 cents per share in the year-ago quarter. Fourth-quarter revenues rose 4.6 percent to $360.1 million compared to $344.3 million in the final period of 1998. Meanwhile, full-year revenues increased 4.2 percent to $1.4 billion versus $1.3 billion in the previous comparable time frame.
“I continue to be pleased with the momentum shown by our core domestic industrial guard business, both in terms of revenue as well as income growth,” says John A. Edwardson, chairman and CEO. “I’m comfortable that the majority of our issues related to the United Kingdom and globe aviation businesses are behind us. We anticipate that these businesses will be profitable in 2000.”
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