Allegion Plc (ALLE) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

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Allegion Plc
Ticker: ALLE CIK: 1579241

ALLEGION REPORTS FOURTH-QUARTER, FULL-YEAR 2015 FINANCIAL RESULTS,

PROVIDES 2016 OUTLOOK


▪	Fourth-quarter 2015 earnings per share from continuing operations (EPS) of $0.74, compared with 2014 EPS of $0.37; 2015 adjusted EPS of $0.89, up 17.1 percent compared with 2014 adjusted EPS of $0.76


▪	Fourth-quarter 2015 revenue of $545.4 million, down 4.9 percent compared to 2014, up 4.8 percent on an organic basis


▪	Fourth-quarter 2015 operating margin of 14.9 percent, compared with 2014 operating margin of 11 percent; 2015 adjusted operating margin of 19 percent, improved 40 basis points compared with 2014 adjusted operating margin of 18.6 percent


▪	Full-year 2015 EPS of $1.59, compared with 2014 EPS of $1.92; 2015 adjusted EPS of $3.03, up 21.7 percent compared with 2014 adjusted EPS of $2.49


▪	Full-year 2015 revenue of $2.07 billion, down 2.4 percent compared to 2014, up 5.4 percent on an organic basis


▪	Full-year 2015 operating margin of 17.3 percent, compared with 2014 operating margin of 15.4 percent; 2015 adjusted operating margin of 19.2 percent, improved 50 basis points compared with 2014 adjusted operating margin of 18.7 percent


▪	Full-year 2015 available cash flow of $222.2 million, an increase of 7.1 percent versus prior year


▪	Full-year 2016 reported sales growth forecasted to be up 7 to 8 percent and up 4 to 5 percent on an organic basis; Full-year 2016 EPS outlook of $3.15 to $3.35 and $3.25 to $3.40 on an adjusted basis, up 7.3 to 12.2 percent

DUBLIN (Feb. 11, 2016) - Allegion plc (NYSE: ALLE), a leading global provider of security products and solutions, today reported fourth-quarter 2015 net revenues of $545.4 million and net earnings of $71.9 million or $0.74 per share. Excluding charges related to restructuring, acquisitions and divestitures, adjusted net earnings were $86.5 million or $0.89 per share, up 17.1 percent when compared with fourth-quarter 2014 adjusted EPS of $0.76.

Fourth-quarter net revenues decreased 4.9 percent, when compared to the prior year period (up 4.8 percent on an organic basis). Reported revenues had positive organic growth and contribution from acquisitions that were more than offset by divestitures and foreign currency. The organic growth reflects the introduction of new products and the company’s channel initiatives as well as global electronic sales that grew 28 percent in the quarter.

The Americas segment revenues decreased 2 percent (up 6.6 percent on an organic basis). The organic growth was driven by low-double digit residential and mid-single digit non-residential growth. Overall revenue declined due to unfavorable foreign currency and the divestiture of the company’s Venezuelan business, partially offset by the benefit of acquisitions.

The EMEIA segment revenues increased 24.8 percent (up 3.1 percent on an organic basis), reflecting acquisitions, improved pricing and volume that more than offset unfavorable foreign currency. Acquisitions delivered approximately $35 million in revenue in the quarter.

The Asia Pacific segment revenues were down 58.2 percent, when compared to the prior year period (down 1.6 percent on an organic basis). Reported revenues were impacted by unfavorable foreign currency and the divestiture of the system integration business. The decline in organic revenue was primarily due to the decline in the system integration business reflected in our results for a portion of the quarter, partially offset by low-double digit organic growth in the remaining business.

The following information was filed by Allegion Plc (ALLE) on Thursday, February 11, 2016 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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