NAPCO Security Systems continues to report double-digit
percentage increases in net income, with the manufacturer’s
chairman crediting its use of indepentent distributors for
the earnings rise. NAPCO’s net income was up 20 percent for
its second quarter that ended Dec. 31 to $872 million and
has been up more than 211 percent over the past six
months.
“Our business strategy of reallocating our burglar and fire
alarm sales across our extensive national network of
independent distributors has been well received and the
revitalization of that segment of our business has taken
hold,” said NAPCO Chairman and President Richard Soloway in
a statement. “Our independent distributor network has done
an outstanding job of reaching out to an expanding list of
security dealers who focus on residential, commercial,
industrial and governmental security installations,
resulting in increased acceptance and sales of NAPCO alarm
products.”
NAPCO continues to reduce a debt that had been as high as
$13.6 million at the end of 2003. NAPCO nearly halved its
debt in its second quarter to $4.4 million.
In other earnings news …
BRINK’S: With record revenues from Brink’s Home
Security, The Brink’s Co. reports a 289-percent increase in
net earnings for 2004.
Brink’s net income for 2004 was $114.6 million, compared
with $29.4 million the year before. The company had
revenues of $4.7 billion, compared with $4 billion in 2003.
Michael Dan – chairman, president and CEO of Brink’s –
called 2004 in a statement the “year in which our
businesses began to demonstrate what they are capable of
achieving.”
Brink’s Home Security had record fourth quarter revenue of
$90.1 million and $345.6 million for the year – a 10-
percent increase over 2003. Brink’s ended 2004 with 921,000
home security subscribers generating recurring monthly
revenue (RMR) of $26.1 million.
UPDATE: Brink’s
revised its earnings
report in March to reflect a higher net income.
Click here for the
story.
MONITRONICS: Dallas-based security provider Monitronics Int’l showed a net loss of $100,000 in its second quarter ended Dec. 31. However, revenues were up 11 percent to $41.5 million.
“Monitronics perceives the residential security market at this point to be stable and growing,” said Monitronics CEO Jim Hull. “The Company is well positioned to take advantage of the market.”
