Brink's Posts Q4 Loss, Cuts FY Revenue View On Currency Declines, Dispositions

(RTTNews) - The Brink's Co. (BCO), a provider of security-related services, Thursday reported an attributable fourth-quarter loss of $47.2 million or $0.96 per share, compared to profit of $40.9 million or $0.83 per share last year.

Loss per share from continuing operations was $0.52, including pension settlement of $0.72 and reorganization and restructuring charges $0.31. In the previous year, the company reported earnings per share from continuing operations of $0.49.

Adjusted earnings per share totaled $0.69, while it was $0.72 last year.

Revenues fell to $881 million from $997 million in the previous year.

Tom Schievelbein, chairman, president and chief executive officer, said: "Looking ahead, our 2015 and 2016 operating margin rate targets have not changed. However, our 2015 revenue guidance has been reduced from $3.8 billion to $3.4 billion due to currency declines and dispositions. As a result, we now expect 2015 non-GAAP earnings to be between $1.55 and $1.75 per share, and our 2016 targeted earnings range is now $2.00 to $2.40 per share. I'm confident that our aggressive cost reduction and productivity initiatives will enable us to achieve these targets."