With a number of security firms posting earnings lately, I thought a Friday round-up might be interesting:
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L1's business is finally rolling like they've promised. These strike me as particularly positive developments:
Revenue for the third quarter of 2007 was $115.5 million compared to $39.8 million in the third quarter of 2006, an increase of $75.7 million or 190 percent. The Company had impressive organic growth of 32 percent for the quarter.
The Company’s net income in the third quarter amounted to $1.5 million, or $0.02 per diluted share, compared to a net loss of $29.3 million, or $0.66 per diluted share, in the third quarter of 2006, which included asset impairments and merger-related charges of $22.8 million.
It's certainly always better to make $2 million rather than lose $29 million.
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Stanley's security segment sales are up 24 percent
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UTC Fire & Security's organic revenue growth in the quarter was 4%, led by Lenel, the security businesses in the Americas, and Asia.
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Honeywell's income is up 14 percent, but see these paragraphs:
"People might be concerned whether there is the margin potential in ACS that the company has intimated," he said.
The ACS business, representing nearly 40% of Honeywell's quarterly revenue, provides technology and services to improve efficiency in manufacturing and home and building climates, as well as provides products for security and fire detection.
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Brink's third-quarter revenue was $817.0 million, up 15.2% (10% on a constant currency basis) from $709.5 million in the third quarter of 2006. Operating profit increased to $60.5 million, up 11.2 % from $54.4 million in the year- ago period.
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Ingersoll Rand'srevenues from continuing operations for the first nine months of 2007 have increased approximately 9 % compared with the same period of 2006, and remember that:
The Company's Bobcat, Utility Equipment, Attachments and Road Development business units are now being reported as discontinued operations.
It's still a good time to be a security company, but not as good as it has been.
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