SENSORMATIC REPORTS 56% UPTURN IN EARNINGS PER SHARE IN 3rd QUARTER OF FISCAL 2000
BOCA RATON, Fla.
Sensormatic Electronics Corp. has reported earnings of 22 cents per share for the third quarter of fiscal 2000 ending March 31. Fiscal third-quarter earnings included an 8-cents-per-share benefit from restructuring reversals and litigation recoveries. Excluding these adjustments, earnings were 14 cents per share, an increase of 55.6 percent compared with earnings of 9 cents per share for the third quarter of fiscal 1999. Excluding the restructuring reversals and litigation recoveries, earnings applicable to common shareholders for the period were $10.5 million, compared to $6.5 million for the same time frame in 1999, a 61.5-percent increase. Revenues for the third quarter were $261.1 million, compared to $245.5 million in 1999, a 10.8-percent hike.
“Our third quarter is historically a difficult quarter. Our performance this quarter demonstrates that we continue to operate on the right track. I believe that, on a long-term basis, our business is gathering momentum, and that we are on a growth track leading to double-digit revenue growth,” says President/CEO Per-Olof Loof. Sensormatic is a leading supplier of electronic security systems to the retail, commercial and industrial marketplaces.
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