Fourth-quarter 2014 revenue of $573.5 million, up 5.5 percent compared to 2013, up 7.6 percent on an organic basis  
Fourth-quarter 2014 earnings per share (EPS) from continuing operations of$0.37compared with 2013 EPS of $0.12;adjusted EPS of$0.76,up 26.7 percent compared with 2013 adjusted EPS of $0.60 
Fourth-quarter 2014 operating margin of 11.0 percent compared with 2013 operating margin of 16.9 percent; adjusted operating margin of 18.6 percent increased 60 basis points compared with 2013 adjusted operating margin of 18.0 percent 
Full-year 2014 revenue of $2.1 billion, increased 2.4 percent compared to prior year (up 5.0 percent on an adjusted basis) 
Full-year 2014 EPS from continuing operations of $1.92 compared to $0.37 in the prior year; 2014 adjusted EPS of $2.49, up 14.2 percent compared with 2013 adjusted EPS of $2.18 
Full-year 2014 available cash flow of $207.5 million, or 111.4 percent of net earnings from continuing operations 
On December 31, 2014, the Company moved from measuring results in Venezuela at the official exchange rate of 6.3 bolivars per U.S. dollar to using the Venezuelan government’s SICAD II exchange rate of 50 bolivars per U.S. dollar.  As a result, the company recorded a pretax charge of $45.4 million, or EPS of $0.28. 
2015 full-year EPS from continuing operations forecasted to be $2.65 to $2.75, up 12 to 17 percent versus 2014 adjusted EPS excluding Venezuela  
DUBLIN, IRELAND (Feb. 18, 2015)  Allegion plc (NYSE: ALLE), a leading global provider of security products and solutions, today reported fourth-quarter 2014 net revenues of $573.5 million and net earnings of $35.6 million, or $0.37 per share from continuing operations. These results include charges related to Venezuela currency devaluation, restructuring and one-time separation costs. Excluding these items, adjusted net earnings were $73.2 million, or $0.76 per share, up 26.7 percent compared with 2013 adjusted EPS. 
Fourth-quarter net revenues increased 5.5 percent compared to the prior year period (up 7.6 percent on an organic basis). The Americas segment increased total revenue by 8.4 percent, driven by low single-digit non-residential growth, mid-single-digit residential growth, Venezuela pricing actions and acquisition revenue offsetting Canadian dollar currency headwinds. The Asia Pacific segment grew revenue 17.0 percent, due to strength in the system integration and mechanical hardware businesses. The EMEIA segment revenues were down 10.3 percent, predominately driven by unfavorable currency exchange.
Fourth-quarter operating margin was 11.0 percent, compared with 16.9 percent in 2013. Fourth-quarter adjusted operating margin was 18.6 percent, compared with 18.0 percent in 2013 - an increase of 60 basis points. Adjusted operating margin was up year-over-year as favorable price, volume leverage and productivity more than offset increased investments and inflation.
Full-year Results 
Full-year 2014 net revenues were $2,118.3 million, an increase of 2.4 percent compared to the prior year (5.0 percent on an adjusted basis). Full-year 2014 operating margin was 15.4 percent, compared with 11.6 percent in 2013. Full-year 2014 adjusted operating margin was 18.7 percent, compared with 18.3 percent in 2013 - an increase of 40 basis points. The improvement in operating margin reflects operating leverage on revenue growth that offsets incremental investments predominately in new product development.
Net earnings from continuing operations for the full-year 2014 were $186.3 million, or $1.92 per share, compared to $35.9 million, or $0.37 per share, for the prior year. Adjusted net earnings from continuing operations were $241.8 million, or $2.49 per share for the year ended December 31, 2014, compared to adjusted net earnings from continuing operations of $209.0 million, or $2.18 per share for the prior year reflecting a 14.2 percent increase. Adjusted net earnings and adjusted EPS were better than the prior year, reflecting operational improvement net of investments and a lower effective tax rate offsetting share dilution and higher interest expense.

“In our first year of operation as a stand-alone public company, we made significant progress on new product introductions, improved EMEIA margin performance, realized a reduction in the effective tax rate, and continued to focus on providing a safe environment for our employees. I am proud of the Allegion team and the execution and results achieved in a challenging environment,” said David D. Petratis, chairman, president and chief executive officer.

The following information was filed by Allegion Plc (ALLE) on Wednesday, February 18, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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