Ingersoll-Rand Reports Earnings
Ingersoll-Rand (IR), the parent company for such electronic security brands as Schlage, Recognition Systems, Locknetics and integrator Security One Systems, reports a slight decrease in net earnings in its second quarter while seeing a 13-percent increase in revenue. IR’s Security Technologies division was one of the company’s biggest winners, boasting a 34-percent increase in net earnings and a 10-percent jump in revenue.
For the quarter that ended June 30, IR reported $285.4 million in earnings compared to $286.2 million for the same quarter in 2004, while showing revenues of $2.8 billion.
The security products division made $529.5 million in sales, with net earnings of $94.9 million. The second quarter included the May acquisition of Security One Systems.
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