Broadview earnings better than expected

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02/24/2010
Broadview Security reported fourth quarter and year-end earnings this morning and "beat Street estimates." Here's Reuter's take on the report
Brink's Home Security Holdings Inc (CFL.N) posted a better-than-expected quarterly profit, helped by higher margins and an increase in its subscriber base. For the fourth quarter, net income rose to $17.8 million, or 39 cents a share, compared with $14.8 million, or 32 cents a share, a year ago. Revenue rose 8 percent to $145.4 million. The company's subscriber base grew 4.4 percent. Analysts on average expected earnings of 29 cents a share, before special items, on revenue of $145.9 million, according to Thomson Reuters I/B/E/S. Operating profit margin for the latest fourth quarter was 18.9 percent compared with 18.3 percent last year. The increase in margin was due to the reduction in royalty rate charged to the company by its former parent and higher profits from recurring services on the larger subscriber base, Brink's said. Shares of the company closed at $41.20 Tuesday on the New York Stock Exchange. (Reporting by Divya Sharma in Bangalore; Editing by Anne Pallivathuckal)