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ADT Reports Fourth Quarter And Fiscal Year 2012 Results

The ADT Corporation (NYSE: ADT):

  • Recurring revenue of $742 million, up 5.2%
  • Net income of $94 million, up 1.1%
  • EBITDA before special items of $401 million, up 2.8%
  • GAAP earnings per share of $0.40 and earnings per share before special items of $0.43

($ in millions, except per-share amounts)
Q4 2012 Q4 2011 Change FY 2012 FY 2011 Change
Recurring revenue $742 $705 5.2% $2,903 $2,765 5.0%
Other revenue $70 $89 -21.3% $325 $345 -5.8%
Total revenue $812 $794 2.3% $3,228 $3,110 3.8%
Net income $94 $93 1.1% $394 $376 4.8%
EBITDA before special items 1 $401 $390 2.8% $1,609 $1,534 4.9%
EBITDA margin before special items 1 49.4% 49.1% 30bps 49.8% 49.3% 50bps
Net cash provided by operating activities $362 $396 -8.6% $1,493 $1,439 3.8%
Free cash flow before special items 1 $86 $154 -44.2% $432 $563 -23.3%
Diluted earnings per share $0.40 $0.39 2.6% $1.67 $1.59 5.0%
Diluted earnings per share before special items 1 $0.43 $0.41 4.9% $1.74 $1.66 4.8%

1 Reconciliations from GAAP to non-GAAP financial measures can be found in the attached tables, as well as on the Investor Relations section of our web site, .

The ADT Corporation (NYSE: ADT) today reported diluted earnings per share of $0.40 for the fourth quarter of 2012, and diluted earnings per share before special items of $0.43. Naren Gursahaney, ADT’s Chief Executive Officer, said, “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. We are excited about the opportunities ahead of us to build on our leadership position and drive ongoing profitable growth.” Commenting on the company’s results for the fourth quarter, Gursahaney added, “We delivered solid recurring revenue growth fueled by the continued success of Pulse in the residential and small business security markets. Our focus for 2013 is to deliver meaningful shareholder value by leveraging our competitive strengths to accelerate growth and through the efficient deployment of capital.”

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