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The Brink's Company Message Board

  • burlingtonuk2002 burlingtonuk2002 Oct 31, 2002 12:17 PM Flag

    Q3 Results

    Results are strong, but the markets don't seem so sure. Profits at $10m for the quarter. Beats the $9m loss of a year ago.

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    • Need to be careful how you use the term "profits". The results included a one-time inclusion of roughly $3M gift from the feds. I thought it was interesting that they reported in Q3 for this. Wall Street still has concern for long term fundamentals at PZB. Down to $20 today when the rest of the market is defying gravity.

      Anyone have more information on the BAX versus Descartes lawsuit? They are asking for $4M in damages.

      • 1 Reply to jamesbondd777
      • Just to clarify, the "gift" was not added to the financials of BAX.

        The $3.7 million ($5.9 million before taxes) from the Air Transportation Safety and System Stabilization Act was included as a line item in the statement of operations for Pittston as additional revenue.

        Since Pittston splits off the financials of each operating group (Brinks, Brinks Home Security, BAX, etc.), that amount is not added to BAX's profit/loss statement.

        So the amount of profit from BAX's operations is clearly a profit without gov't help.

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