Home Security Powers Earnings for Brink’s
While 2003 proved to be a year of declining profits for the
Brink’s Co. as a whole, there was reason for the Brink’s
Home Security division to celebrate as 2003 earnings were
announced. While Brink’s Co. saw a 26-percent decrease in
earnings compared to 2002, Home Security’s profit margin
went up 10 percent in 2003.
Brink’s Home Security made $112.5 million for the company
in 2003, up from $96.1 million the previous year. Overall,
the company reports earnings of $18.2 million compared to
$69.4 million the year before. Michael Dan – chairman,
president and CEO of Brink’s Co. – says much of the reason
for the declining profits was Brink’s exit from its coal
and other natural resources businesses.
“We begin 2004 as a stronger, more focused company
positioned to leverage the excellent market position of our
business and security services companies to achieve further
growth and even better performance,” Dan says. “We
continued to achieve strong performance in our Brink’s Home
Brink’s Home Security had revenues of $1.69 billion in
2003, up 7 percent from the year before. Behind that was a
3-percent increase in North American revenues to $716.2
The number of Brink’s Home Security subscribers went up 7
percent in 2003, with a slight increase in disconnects
offset by a substantial gain in installations.
Along with its year-end figures, Brink’s also reported its
fourth quarter results Feb. 4 with a 47 percent increase in
earning companywide to $64.2 million with a record
quarterly profit reported in Home Security. Revenue at
Brink’s Home Security was up 11 percent in the fourth
quarter to $81.1 million with a segment profit of $18.7
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