Pinkerton’s 3rd-Quarter Earnings Plummet 84%

Pinkerton’s Inc. said its fiscal third-quarter earnings dropped 84%, to $170,000 from $1.07 million a year earlier, largely because of costs for management restructuring and consolidation of headquarters.

For the quarter ended Sept. 3, the Van Nuys-based security firm posted sales of $175.9 million. That was up 7% from $163.8 million in the comparable period a year earlier.

For the nine months ended Sept. 3, Pinkerton’s earnings were down 15% to $3.06 million from $3.58 million a year earlier. Sales for the latest nine months totaled $506.5 million, up 4% from $485.7 million.