Earnings Roundup: Brink’s, NICE, Checkpoint
RICHMOND, Va.
While revenue was up for The Brink’s Co. in its first
quarter, the parent company of Brink’s Home Security
reports a 53-percent drop in its net earnings for its first
quarter of 2005. That came despite record first-quarter
profits for Brink’s Home Security.
Brink’s Co. had a net profit of $13.6 million for the three
months that ended March 31 compared to $25.8 million for
the same quarter in 2004. Brink’s had revenues of $1.22
billion in the first quarter, up 12 percent over the
previous year. However, it was hindered by $1.19 billion in
expenses.
“Brink’s Incorporated maintained favorable revenue growth
especially in its international operations, but operating
profit was impacted by reduced volumes in certain European
operations,” said Brink’s President and CEO Michael Dan in
a statement.
Meanwhile, Brink’s Home Security enjoyed a 12-percent hike
in revenue to $91.9 million in the first quarter with a
record net operating profit of $22.5 million. Brink’s says
it added 39,300 new subscribers during the quarter and now
has approximately 947,100 subscribers generating monthly
recurring revenue of $26.9 million.
“Brink’s Home Security maintained its excellent record of
growth and profitability,” Dan said.
In other earnings news …
NICE Systems: The video solutions provider had net
income of $5.9 million in its first quarter, up from $5.8
million the year before. Revenue for the first three months
of 2005 was up 13 percent to $66.1 million.
Checkpoint Systems: The access control manufacturer had a 30-percent drop in first quarter net earnings, taking in $3.8 million with a slight increase in revenue to $182.2 million.
However, the company’s U.S. security segment proved to be one of its strongest. While revenues in Checkpoint’s global Security segment rose 1.7 percent, the U.S. security business had a 16-percent increase in sales compared to a year ago.
“Our financial results were driven by strong growth within our U.S. electronic article surveillance (EAS) business,” said George Off, chairman and CEO of Checkpoint, in a statement.
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