By Maitane Sardon
Allegion PLC said Thursday that its first-quarter profit rose alongside revenue.
The Dublin-based security-products company posted earnings of $108 million in the quarter, compared with $400,000 in the same period a year earlier. Earnings per share were $1.18, compared with EPS of $0.00 a year ago.
Excluding items, U.S.-listed Allegion reported adjusted profit of $1.20 a share, compared with $1.04 a share a year earlier and analysts' forecasts of $1.02 a share.
Revenue rose to $694.3 million from $674.7 million. Analysts had forecast revenue of $646.1 million.
"The Allegion International business has continued to rebound and meet increased demand, while the Americas residential business remained strong," said Allegion's Chairman, President and Chief Executive David D. Petratis.
The company said it expects full-year EPS of between $4.85 and $5.05 and adjusted EPS of $5.00 to $5.15.
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