Earnings Round-Up: Protection One, IASG
Security provider Protection One has announced its final year earnings for its 2005 fiscal year, saying that while it still had a net loss, it was drastically less than the net loss in 2004, when fears of bankruptcy swirled around the electronic security installer. While revenues saw little change, Protection One increased its retail recurring monthly revenue (RMR) 10 percent in 2005.
Protection One had a net loss of $29.1 million in 2005 compared to a $323.9 million loss in 2004. It had slightly less revenue — $263 million — compared to the $269.3 million it earned in 2004.
At the end of 2005, Protection One had 1,012,797 subscribers compared to 1,030,113 at the end of the previous year.
In other earnings news …
IASG: Integrated Alarm Services Group Inc. (IASG), the parent company of security monitoring centers Criticom Int’l and the National Alarm Computer Center (NACC), says that while its revenues were up 23 percent in its fiscal 2005, its net loss went up 91 percent.
IASG had a net loss of $22.3 million in its fiscal 2005, including an $8 million loss in its last quarter. That compares to a net loss of $11.7 million in 2004. Revenues were $99.2 million compared to $80.4 million the year before.
“2005 was a challenging year for our company,” said IASG Chairman and CEO Timothy McGinn, in a statement. “We are not at all satisfied with these results.”
IASG announced in November that it was launching a thorough review of its financial health that would include consideration of divesting some of its properties. That announcement came just a month after the company’s previous acquisition of alarm industry financier Financial Security Services Inc. (FSS).
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