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PINKERTON REPORTS EARNINGS PRESSURES, REVISES 1992 EARNINGS EXPECTATIONS

 PINKERTON REPORTS EARNINGS PRESSURES,
 REVISES 1992 EARNINGS EXPECTATIONS
 LOS ANGELES, June 18 /PRNewswire/ -- Pinkerton Security & Investigation Services (NASDAQ: PKTN) today announced that preliminary second quarter results show continued softening of demand for security guard services and reduced margins. Thomas W. Wathen, Chairman and Chief Executive Officer, said that "although the total number of Pinkerton clients and revenues are still increasing, the average level of service used by many major U.S. and Canadian clients has declined, presumably due to recession-related cost cutting."
 Wathen said that "second-half results will be aided by a number of overhead reductions and other cost cutting measures. The former BRI and Pinkerton Investigations division are now fully consolidated and cost controls are fully implemented. Further, present market conditions do not alter our long term expectations of annual earnings growth."
 Pinkerton, which operates on a thirteen period reporting basis rather than calendar months, earlier reported first quarter 1992 results of $0.15 per share, as against $0.23 per share on 28 percent fewer shares in 1991. Wathen stated that "second quarter results apparently will be significantly below corporate targets."
 Pinkerton, founded in 1850, is one of the world's largest security companies with more than 200 offices and 45,000 employees throughout the world. Services provided by Pinkerton include security guard operations and a full range of investigational services.
 -0- 6/19/92
 /CONTACT: Thomas W. Wathen, Chairman & CEO, or Daniel C. Weaver, VP & CFO, of Pinkerton Security & Investigation, 818-782-5400; or Tim Kent or Bill Coffin, 818-783-2400, or Nick Farina, 312-266-7800, both of Financial Relations Board for Pinkerton/
 (PKTN) CO: Pinkerton Security & Investigation Services ST: California IN: SU:


CH -- LA016 -- 1546 06/18/92 13:43 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
Words:280
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