ADT profits hit analysts' target

Investor's Business Daily

Security monitoring firm ADT (ADT) met profit expectations in its first report after spinning off from Tyco Int'l in late Sept. The company said Q4 EPS rose 4.9% to 43 cents, and revenue grew 2.3% to $812 mil, missing projections of $818.2 mil. The number of customers who canceled services climbed to 13.8% after the company raised rates in Q2 and Q3. Still, it ended the period with 6.4 mil customer accounts, up 1.1% from a year ago. ADT, which has an IBD Composite Rating of 93, an EPS Rating of 82 and a Relative Strength Rating of 93, also announced up to $2 bil in stock buybacks over 3 years. Shares rose 1.1% to 43.57.

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