ADT Q1 Profit Declines - Quick Facts

(RTTNews) - ADT Corp. (ADT) said first-quarter net income declined to $77 million from $105 million. Earnings per share dropped to $0.39 from $0.44.

Adjusted earnings per share were $0.43, while it totaled $0.44 last year. On average, 7 analysts polled by Thomson Reuters expected earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $839 million from $809 million. Wall Street expected revenues of $849.50 million.

The company reported recurring revenue, which made up 92 percent of total revenue in the quarter, of $775 million, up 4.2 percent from last year. Recurring revenue growth was primarily driven by an increase in average revenue per customer that rose 3.1 percent to $40.63.

ADT, which closed down 1.2 percent on Wednesday, is declining 7.6 percent in pre-market activity.