ADT Q3 Net Profit Drops, Non-GAAP EPS Beats View - Quick Facts

(RTTNews) - ADT Corp.'s (ADT) third-quarter net income slid to $82 million, or $0.47 a share, from $113 million, or $0.52 a share, in the earlier year quarter.

Excluding special items for the separation from Tyco, merger and restructuring costs, 2G radio conversion costs, and discrete tax items, quarterly earnings per share amounted to $0.55. On average, 7 analysts polled by Thomson Reuters expected earnings of $0.47 a share for the quarter. Analysts' estimates typically exclude one-time items. Using the firm's cash tax rate, earnings per share before items were $0.80, the company noted.

Year-over-year, total revenue for the tri-monthly period was up by 1.9% or up 2.2% in constant currency to $849 million, from $833 million. Analysts estimated revenues of $848.16 million for the quarter. Recurring revenue, which made up 92% of total revenue in the quarter, was $785 million, up 2.7% compared to the prior year and up 3.0% in constant currency.