PRETAX INCOME FROM ELECTRONIC SECURITY SERVICES AND VEHICLE AUCTIONS BUSINESSES AT $203 MILLION, UP 3 PERCENT
PRETAX INCOME FROM ELECTRONIC SECURITY SERVICES AND
VEHICLE AUCTIONS BUSINESSES AT $203 MILLION, UP 3 PERCENT
NEW YORK, March 24 /PRNewswire/ -- ADT Limited (NYSE: ADT), the world leader in electronic security services and vehicle auctions, reported in its earnings statement today that 1991 pretax income from its electronic security services and vehicle auctions businesses increased to $203 million from $197 million in 1990.
Income before income taxes for the year ended Dec. 31, 1991, declined by 44 percent to $137 million from $244 million in 1990, primarily due to a decrease in the contribution from non-operating activities, including associates, and increased net interest expense.
As a consequence, primary earnings per common share for 1991 was $1.04, a decrease of 46 percent.
/CONTACT: Broadgate Consultants, 212-229-2222/
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(ADT) CO: ADT Limited ST: New York IN: SU: ERN CK-SM -- NY025 -- 1003 03/24/92 11:25 EST