Pinkerton Security Profit Rises 28% in 2nd Quarter

Pinkerton Security & Investigation Services said its second-quarter profit rose 28%, to $1.7 million.

The Van Nuys-based security and investigations consulting firm posted revenue of $166 million for the quarter ending June 11, up 2% from $162 million a year earlier.

Pinkerton said sluggish new sales and adverse foreign exchange rates accounted for the modest revenue increase, but that automating several office functions last year reduced expenses. The company also reduced the interest expense on its long-term debt through an interest swap.

For the first half of fiscal 1993, Pinkerton had net income of $2.9 million, up 16% from $2.5 million a year earlier. Revenue rose 3% to $331 million from $321 million.