Brink's revenues up nin percent
DALLAS - A hefty increase in installations as well as a slightly lower rate of customer disconnects helped Brink's Home Security post a nine percent increase in revenues for the first quarter of 2002, compared to the same period last year.
Revenues of $67.2 million for the first quarter were also spurred by a six percent larger average subscriber base as well as monitoring rates that were one percent higher, company officials said. The larger numbers of subscribers and higher rates led to an eight percent rise in recurring monthly revenues for March of this year, compared to levels in March 2001.
Company officials also credited a decline in household moves during the quarter and a decision to increase minimum acceptable credit scores for new subscribers for Brink's 6.7 percent annualized disconnect rate in the quarter - the company's lowest rate in seven years - for rising revenues.
Worldwide revenues for Brink's rose to $406.7 million for the first quarter, compared to $373.3 million for the same period in 2001.