Protection One Inc. of Lawrence, Kan., more than halved its net loss in its 2005 second quarter compared to the same period a year ago, but showed a slight decrease in revenue as it reported its quarterly financial results. Protection One had a $7.9 million loss for the three months that ended June 30, compared to a $16.6 million loss in the same period of 2004.
Total revenues were $65.4 million compared to $67.3 million in second quarter 2004. Most of this decline was attributed to lower amortization of previously deferred installation revenues that were reduced by pushdown accounting adjustments.
According to Richard Ginsburg, president and CEO, Protection One experienced recurring monitoring revenue of $19.9 million, delivering 12-percent more retail recurring revenue additions in the second quarter of 2005 than in the first quarter period and 11-percent more than second quarter 2004.
The firm realized monitoring and related services revenues of $61.5 million, compared to $61.8 million in the second quarter 2004, which represents a decrease of 0.5 percent. According to Protection One, slight declines in the firm’s customer base since the end of second quarter 2004 were nearly offset by higher recurring monthly revenue per account added, and by pricing adjustments to existing accounts.
