Avigilon Posts Strong Q4 Earnings; Net Income Declines
Revenue growth for both Q4 and the full year 2015 reflects increased product sales worldwide, driven in part by penetration of new target regions.
Revenue growth for both Q4 and the full year 2015 reflects increased product sales worldwide, driven in part by penetration of new target regions.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $67.5 million, compared with $71.2 million in the fourth quarter of 2014.
In North America, Securitas posted sales of $3.7 billion in 2015, a rise of 24%, which exceeded market expectations.
Honeywell posted a 24.9% rise in quarterly profit, helped by lower costs.
The company reported its North American security segment organic revenues declined 6% due primarily to lower volumes within the commercial electronic security business as 4Q’14 benefited from a large retail installation.
Revenue of $827 million decreased 18% compared to the prior year, driven by a 13% unfavorable impact from foreign currency exchange rates.
Quarterly net income was $81 million, down 1.2% from $82 million in the final quarter of fiscal 2014.
The company’s first quarter revenue was up 4.6% compared to the same quarter last year.
In mixed results, the business earned $161.7 million during the quarter, compared to the consensus estimate of $175 million.
Security net sales decreased 8% versus 3Q’14 as price (+1%) was more than offset by lower volumes (-2%) and currency (-7%).
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