The Brink’s Co. reports record income in the first quarter
of 2004 for Brink’s Home Security helped power the company
as a whole to a much-improved start of the year compared to
the start of 2003. The home security segment had an
11-percent increase in first-quarter revenue to $82 million
and an
operating profit of $19.4 million – a 16-percent hike from
the year before.

In its earnings announcement May 5, Brink’s reported $25.8
million in net income for its first quarter compared to a
$1.7 million loss in its 2003 first quarter. “Brink’s Home
Security once again posted excellent results, reflecting
its constant focus on disciplined customer acquisition and
industry-leading service levels,” says Brink’s Co.
Chairman, President and CEO Michael Dan. “Brink’s Home
Security will focus on maintaining its industry-leading
performance and continuing to grow revenues, profits and
cash flow.”

Brink’s Home Security reports it added 34,100 new
subscribers in the first quarter, a 24-percent increase
over the number of new subscribers from the 2003 first
quarter. Brink’s now has approximately 854,000 subscribers
generating monthly revenue of $24 million.

In other earnings news:

Tyco Enjoys 84% Hike in Earnings: With newfound profits from its Fire and Security segment, Tyco’s profits surged in it 2004 second quarter, with net profit up 84 percent from the 2003 second quarter.
Net income for Tyco went from $124.3 million in the 2003 second quarter to $782.4 million in 2004.
Even after incurring a charge for its divestiture of Sonitrol, Tyco’s Fire and Security segment had an operating income of $219.7 million, compared to a loss of $178.4 million in the 2003 second quarter. Revenues for Fire and Security – which includes ADT, SimplexGrinnell and Sensormatic – were up 8 percent to $3 billion.
“Our operating margin was led by the strong performance of ADT North America, which benefited from cost improvements as well as lower bad debt expenses,” says Tyco CFO David FitzPatrick.

NICE Systems Earnings Up 96%: Multimedia and video surveillance provider NICE Systems had a net income of $5.9 million in its 2004 first quarter, up from the $209,000 it earned in the first quarter of 2003.
The earnings came with a 13-percent increase in revenue to $58.3 million. “Revenue from our security-related businesses grew 15 percent sequentially, mainly as a result of very strong performance in public safety,” says NICE President and CEO Haim Shani.

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