Protection One up on 38% Q3 revenue jump
Protection One, Inc. (Nasdaq: PONE) shares are up slightly after the maker and installer of security systems recorded third-quarter revenue of $93.5 million, up 38% from $67.6 million a year earlier. The firm’s quarterly net loss widened to $8.7 million, or $0.34 per share, from $3.5 million, or $0.19 per share, during the prior-year period.
The revenue jump was fueled by Protection One’s April merger with Integrated Alarm Services Group.
"Our hard work integrating IASG is reflected in the improved adjusted EBITDA we are reporting today. We are on schedule merging IASG's retail, operations and most corporate accounting and financial functions have also been integrated,” CEO Richard Ginsburg said in a statement. “Our focus now is to use our superior customer care model to improve attrition on the IASG residential account base.”
The Lawrence, Kan.-based company’s cost of revenue during the quarter increased to $37.8 million, from $25.6 million a year earlier.
In afternoon trading, PONE shares are up 1.87%, or $0.20, at $10.90. Over the last 52 weeks, shares have ranged from $10.37 to $20.
