UPDATE: ADT Q4 Profit Beats Street View

The ADT

reported better-than-expected fiscal fourth-quarter profit. The Boca Raton, Florida-based company posted a quarterly profit of $82 million, or $0.47 per share, versus a year-ago profit of $96 million, or $0.45 per share. Excluding one-time items, the company's earnings rose to $0.55 per share from $0.46 per share. Its revenue climbed 4.4% to $883 million in the period. However, analysts were estimating earnings of $0.48 per share on revenue of $878.5 million. Recurring revenue gained 5.4% to $819 million in the quarter. EBITDA before special items gained by $27 million to $458 million in the quarter. Free cash flow before special items dropped to $54 million from $91 million. The company closed the quarter with 6.7 million customer accounts. "We ended the year with a solid quarter, consistent with our most recent guidance, positioning us to drive profitable growth in the year ahead," said Naren Gursahaney, ADT's chief executive officer. "I am proud of how our team has responded to the competitive landscape, while continuing to leverage ADT's competitive advantages to deliver a great customer experience and create long term value for our shareholders.” ADT projects full year fiscal 2015 recurring revenue growth of 5% to 6% and EBITDA before special items of $70 million to $100 million. ADT shares fell 3.23% to close at $35.65 yesterday.