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Brinks Co (BCO) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

SEC Filings

Brinks Co

CIK: 78890 Ticker: BCO
EXHIBIT 99.1



 
 
PRESS RELEASE
The Brink’s Company
1801 Bayberry Court
Richmond, VA 23226-8100 USA
                                                                                                                                                                 Tel. 804.289.9600
 Fax 804.289.9770
                                                                                                                               
FOR IMMEDIATE RELEASE
Contact:
Investor Relations
804.289.9709

Brink’s Reports Fourth-Quarter Results, Restructures European Operations
GAAP EPS $.67 vs. $.48; Non-GAAP EPS $.60 vs. $.67
Improvement in Europe, North America Offset by Lower Profits in Latin America
2013 Segment Margin Expected to be 6.0% to 6.5%
 
 
RICHMOND, Va., February 1, 2013
– The Brink’s Company (NYSE: BCO), a global leader in security-related services, today reported fourth-quarter earnings.  The company also announced its intent to divest its cash-in-transit (CIT) operations in Germany, and that it has completed the divestitures of guarding operations in France and Morocco.  The divestiture of its CIT business in Poland is expected to be completed by March 31.  In 2012, these businesses generated $104 million of revenue and an operating loss of $18 million or $.36 per share.  Brink’s will continue to operate its Global Services business in each of these countries.  Results from these businesses are now reported in discontinued operations (see table below).

Quarterly Amounts Reclassified as Discontinued Operations(a)
                                                           
(In millions, except for per share amounts)
 
2011
   
2012
 
GAAP Basis
    1Q       2Q       3Q       4Q    
Full Year
      1Q       2Q       3Q       4Q    
Full Year
 
Revenue
  $ 29       32       30       29       119       26       26       26       27       104  
Operating loss
    (7 )     (13 )     (4 )     (4 )     (28 )     (4 )     (4 )     (6 )     (4 )     (18 )
Income taxes
    2       4       -       (2 )     5       -       1       -       (1 )     1  
Net loss
    (5 )     (9 )     (4 )     (6 )     (24 )     (4 )     (3 )     (6 )     (4 )     (18 )
Diluted EPS
    (0.10 )     (0.18 )     (0.08 )     (0.13 )     (0.49 )     (0.08 )     (0.07 )     (0.12 )     (0.09 )     (0.36 )
                                                                                 
                                                                                 
Non-GAAP Basis
                                                                               
Revenue
  $ 29       32       30       29       119       26       26       26       27       104  
Operating loss
    (7 )     (3 )     (4 )     (4 )     (18 )     (4 )     (4 )     (3 )     (4 )     (16 )
Income taxes
    2       1       -       (2 )     1       -       1       -       (1 )     1  
Net loss
    (5 )     (2 )     (4 )     (6 )     (17 )     (4 )     (3 )     (3 )     (4 )     (15 )
Diluted EPS
    (0.10 )     (0.05 )     (0.08 )     (0.13 )     (0.36 )     (0.08 )     (0.07 )     (0.06 )     (0.09 )     (0.31 )
                                                                                 
(a)  
Amounts in the table represent the results of the European operations reclassified to Discontinued Operations in the fourth quarter of 2012.  The consolidated income statement also includes amounts related to operations divested in prior years including the company’s former coal operations.  Non-GAAP results are reconciled to the applicable GAAP results on page 21.

 
1

The following information was filed by Brinks Co (BCO) on Friday, February 1, 2013 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets Parenthetical
Consolidated Statement Of Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Income
Other Operating Income (expense) (tables)
Parenthetical Data To The Consolidated Statement Of Equity
Accounts Receivable
Accounts Receivable (details)
Accounts Receivable (tables)
Accrued Liabilities
Accrued Liabilities (details)
Accrued Liabilities (tables)
Acquisitions
Acquisitions (details)
Acquisitions - Narratives (details)
Capital Stock
Capital Stock (details)
Capital Stock (tables)
Capital Stock - Shares Used To Calculate Earnings (details)
Commitments And Contingent Matters
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (details)
Fair Value Of Financial Instruments (tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - From Aqcuisitions (details)
Goodwill And Other Intangible Assets - Other Intagible Assets (details)
Income From Discontinued Operations
Income From Discontinued Operations (details)
Income From Discontinued Operations (tables)
Income Taxes
Income Taxes (tables)
Income Taxes - Deferred Tax Assets And Liabilities (details)
Income Taxes - Income And Taxes From Cont. Operations (details)
Income Taxes - Narrative (details)
Income Taxes - Net Operating Losses (details)
Income Taxes - Rate Reconciliation (details)
Income Taxes - Uncertain Tax Positions (details)
Income Taxes - Valuation Allowances (details)
Interest And Other Nonoperating Income
Interest And Other Nonoperating Income (details)
Interest And Other Nonoperating Income (tables)
Long-term Debt
Long-term Debt (details)
Long-term Debt (narrative) (details)
Long-term Debt (tables)
Operating Leases (details)
Operating Leases (tables)
Operting Leases
Other Assets
Other Assets (details)
Other Assets (tables)
Other Commitments And Contingencies (details)
Other Liabilities
Other Liabilities (details)
Other Liabilities (tables)
Other Operating Income (expense)
Other Operating Income (expense) (details)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Retirement Benefits
Retirement Benefits (tables)
Retirement Benefits - Assumptions (details)
Retirement Benefits - Changes In Level 3 Investments (details)
Retirement Benefits - Estimated Future Pension Benef Pmts (details)
Retirement Benefits - Health Care Cost Trends And Opeb Future Ben Pmts (details)
Retirement Benefits - Information Comparing Plan Asssets To Obligations (details)
Retirement Benefits - Narrative (details)
Retirement Benefits - Obligations And Funded Status (details)
Retirement Benefits - Plan Asssets (details)
Retirement Benefits - Retirement Cost (details)
Segment Information
Segment Information (details)
Segment Information (tables)
Selected Quarterly Financial Data
Selected Quarterly Financial Data (details)
Selected Quarterly Financial Data (tables)
Share-based Compensation Plans
Share-based Compensation Plans (details)
Share-based Compensation Plans (tables)
Share-based Compensation Plans - Compensation (details)
Share-based Compensation Plans - Options Activity (detais)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (polcies)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)
Ticker: BCO
CIK: 78890
Form Type: 10-K Annual Report
Accession Number: 0000078890-13-000006
Submitted to the SEC: Wed Feb 27 2013 9:00:22 PM EST
Accepted by the SEC: Thu Feb 28 2013
Period: Monday, December 31, 2012
Industry: Arrangement Of Transportation Of Freight And Cargo

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