Brink's shows strong profits for Q2

SSN Staff  - 
Thursday, July 31, 2003

July 31, 2003

RICHMOND, Va. - Revenues at Brink's Home Security rose nine percent to $76.5 million in the second quarter of 2003 thanks to a 10 percent growth in the company's subscriber base over the same period in 2002, company officials said Thursday.

As of June 30, the home security company had more than 795,000 subscribers, including 28,000 that were added during the second quarter. The company's annualized disconnect rate also improved to 7.2 percent, down from 7.5 percent a year earlier.

Operating profits for the company, a unit of The Brink's Company, were also 13 percent higher, at $17.7 million, for the second quarter, due to subscriber growth and lower attrition rates.

Overall, The Brink's Company saw an increase of six percent in second quarter revenues, to $975.2 million. The company recorded a $1.9 million loss from discontinued operations in the second quarter from its former coal operations.