Revenues Up 15% at Brink’s Home Security
RICHMOND, Va.
Due primarily to continued growth in the subscriber base, revenue at Brink’s Home Security increased 15 percent to $100 million in the third quarter of 2005 compared with earnings from the same time last year. In addition, parent company The Brink’s Co.’s total revenues for the third quarter were up 16 percent to $1.4 billion, thanks to substantial increases from each of the company’s business units.
Brink’s Home Security also announced that its operating profit in the third quarter was up 5 percent to $21.3 million from $20.2 million a year ago, and that its annualized disconnect rate grew to 7.7 percent from 7.1 percent a year ago as a result of the effects of Hurricane Katrina. The company added, however, that there were no negative financial effects from the hurricane because they expect its insurance coverage to more than offset its losses.
Brink’s Home Security installed 43,800 new subscribers during the third quarter – an increase of 15 percent from the same time last year – and ended the quarter with approximately 998,000 subscribers generating monthly recurring revenue of $28.4 million.
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