Brink''s Reports Q4 Earnings
RICHMOND, VA - Brink''s Co released is fourth quarter financial results on Tuesday. The security company''s its fourth quarter profit from continuing operations increased from a year ago as it was boosted by a hefty tax allowance.
The security company said its profit from continuing operations rose to $124 million or $2.53 per share, from $39 million or 83 cents per share in the same quarter a year ago.
The latest quarter was helped by a $118 million U.S. tax valuation allowance but also included a $23 million charge related to its previously announced repatriation of cash from its operations in Venezuela.
Brink''s, which made acquisitions in Brazil, Russia, India and China during 2009, said revenue rose to $849 million from $760 million last year but noted that organic revenue was unchanged.
It forecast 2010 organic revenue growth in the low-to-mid single-digit percentage range from $2.9 billion in 2009.
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