Brink's news: profits up, Soros is among stockholders
Brink's Home Security released Q4 earnings today. Below is a a brief AP report on that, and further down an item on billionaire and big Democrat George Soros, who bought a little more than 1,100,000 shares of Brink's Home Security stock before the end of the year, and before that stock price went up.
Brink's Home Security's 4Q profit gains 21 percent Brink's Home Security 4th-quarter profit rises on bigger subscriber base Wednesday February 18, 2009, 9:46 am EST IRVING, Texas (AP) -- Brink's Home Security Holdings Inc. said Wednesday its fourth-quarter profit increased 21 percent due to a larger subscriber base and lower royalty expense. Net income rose to $14.8 million, or 32 cents per share, in the fourth quarter, from $12.2 million, or 27 cents per share, in the year-ago period. On average, analysts surveyed by Thomson Reuters forecast a fourth-quarter profit of 39 cents per share. The estimates typically exclude items. The company said it benefited from a reduction in the royalty rate charged by its former parent for November and December. Typically, the rate equaled about 7 percent of revenue, but decreased to 1.25 percent in November. Quarterly revenue gained 7 percent to $135.2 million from $126 million in the previous year due to growth in subscriber base and higher average monitoring rates. The company said its subscribers increased to 1.3 million, up more than 6 percent in the same period a year ago. For the year, earnings increased to $57.1 million, or $1.25 per share, from $44.2 million, or 96 cents per share, in 2007. Analysts were predicting earnings of $1.59 per share. Yearly revenue rose to $532.3 million from $484.4 million.And this on George Soros:
New Purchase: BRINKS HOME SECURITY HOLDINGS INC (CFL) George Soros initiated holdings in BRINKS HOME SECURITY HOLDINGS INC. His purchase prices were between $15.5 and $23.5, with an estimated average price of $19.6. The impact to his portfolio due to this purchase was 0.82%. His holdings were 1,146,542 shares as of 12/31/2008.