Pinkerton’s Reports Drop in Profit for 1st Quarter

Pinkerton’s Inc. posted a 16% decline in its first-quarter profit despite a 13% increase in revenue compared to a year earlier.

In the quarter ended March 20, Pinkerton’s net income fell to $1.22 million from $1.46 million a year earlier, but its revenue climbed to $159.4 million from $141.2 million.

The earnings decline was expected. Pinkerton’s, a Van Nuys-based provider of security services, had said in March that it would report a lower first-quarter profit because of one-time costs, mainly those related to certain acquisitions it made last year. The company has predicted higher earnings for all of 1992, however.