Pinkerton’s Earnings Leap After Restructuring

Pinkerton Security & Investigation Services said its fiscal third quarter earnings jumped to $1.8 million from $170,000 a year earlier after the Encino security services provider completed its restructuring.

The third-quarter, 1993, results included a $1.6-million after-tax charge to cover costs of the restructuring. Revenue in the quarter ended Sept. 9 was $198.3 million, up 13% from $175.9 million a year before.

In the latest nine-month period, Pinkerton’s profit was $3.31 million, an 8% gain from the $3.06 million in net income it reported a year ago. Its revenue rose 15%, to $583.7 million from $506.5 million.