The Brink’s Company reports strong first quarter results

SSN Staff  - 
Thursday, May 13, 2004

May 13, 2004

RICHMOND, Va. - The Brink’s Company, parent company of Brink’s Home Security, reported a first quarter income of $17.2 million compared to a loss of $3.2 million in the prior-year period.
The results were driven by the company’s home security arm, which reported $82 million in revenue for the period. The figure increased 11 percent in comparison to last year’s numbers.
In a conference call last week, Chief Executive Officer Michael Dan said new installations were up 24 percent. Company executives also noted that Brink’s Home Security’s low disconnect rate attributed to the strong showing, as well as the division’s commitment on staying very selective with dealers and focusing on customer service. The company currently has 850,000 subscribers.