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ADT reports higher earnings for quarter, year

By Palm Beach Business.com

BOCA RATON — Electronic security company ADT Corp. reported fourth quarter earnings of $94 million, or 41 cents a share, on revenue of $812 million, compared with earnings of $93 million, or 40 cents a share, on revenue of $794 million for the same period a year ago.

ADT, formerly a unit of Tyco International, began trading on the New York Stock Exchange under symbol, ADT, on Oct. 1.

“With our recent spin-off from Tyco International we entered the new fiscal year as a standalone public company with a clear leadership position in residential and small business security in North America,” CEO Naren Gursahaney said. “We are excited about the opportunities ahead of us to build on our leadership position and drive ongoing profitable growth.”

For the year, ADT earned $394 million, or $1.70 a share, on revenue of $3.2 billion, compared with earnings of $376 million, or $1.62 a share, on revenue of $3.1 billion for the same period a year ago.

Shares of ADT were up $1.44 to $44.54 on the New York Stock Exchange early Tuesday afternoon.

ADT also announced that its board has approved a share buy-back program, authorizing the company to spend as much as $2 billion to buy up its common stock. The program expires on November 27, 2015, but may be terminated at any time.

ADT also declared a quarterly dividend of 12.5 per share, payable Dec.18 to shareholders of record on Dec. 10.