Friday, March 26, 1999
Kroll-O'Gara growth, acquisitions add profits
BY MIKE BOYER
The Cincinnati Enquirer
A combination of acquisitions and internal growth helped Fairfield-based Kroll-O'Gara Co. post record results for the fourth quarter and 1998 fiscal year.
The provider of security hardware and services said net income for the three months ended Dec. 31 was $451,000, or 2 cents a share, including $5.3 million in merger and integration expenses.
In the same period last year, Kroll reported a loss of $5 million, or 35 cents a share.
Revenues increased 21 percent to $70.3 million from $58.2 million in the prior year's fourth quarter.
For the full year, Kroll reported net income of $13.1 million, or 69 cents a share, vs. $2 million, or 14 cents a share, in the prior year.
Revenues for the year were $264.8 million, up 29 percent from $206.1 million a year ago.
Bill O'Gara, president and chief operating officer, said, “The acquisitions have allowed us to grow in our core business as well as expand into the information security arena. We now have the necessary platforms in place to dramatically grow our business.”
Kroll said sales of its security products and services unit, including its car-armoring business, increased to $136.8 million last year from $105.6 million in the prior year. Gross profit from security products was $39 million vs. $30 million last year.
Investigations and intelligence contributed $110.2 million in revenues, up from $83.1 million last year. Gross profit from the investigations business was $60.9 million vs. $49.9 million last year.
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Kroll-O'Gara growth, acquisitions add profits
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