April 30, 2008 - 09:06 a.m.

RICHMOND, Va. (AP) - Security services provider Brink's Co. said Wednesday that first-quarter earnings jumped 75 percent, driven by the company's home security unit and its secure transportation unit in Latin American.

For the period ended March 31, earnings grew to $50.1 million or $1.07 per share, from $28.7 million, or 61 cents per share, in the prior year.

Excluding discontinued operations, earnings totaled $48 million, or $1.02 per share, compared with $31.1 million, or 66 cents per share, a year since.

Quarterly revenue rose 24 percent to $920.6 million, from $740.5 million in the first quarter of 2007.

Analysts surveyed by Thomson Financial, who typically exclude discontinued operations, forecast earnings of 79 cents through share on revenue of $842.3 million.

Brink's said first-quarter corporate expense included about $6 million related to its planned spin-off of the home security unit, which was announced in February.

Chairman, President and Chief Executive Michael T. Dan said profit at Brink's Inc., the company's secure transportation and cash management unit, was driven by growth in Latin America and improvement in some European countries. "Our focus for the rest of the year will be to maintain improvements in Europe and look for ways to combat tougher competitive environments and higher costs in our operations in the United States and France," he said.

Dan said the company expects Brink's Inc. to deliver organic revenue growth in the high-single-digit percentage range in 2008.

Dan said Brink's home security unit also achieved solid growth, despite the housing market slump. The company expects the home security business to deliver 10 percent or better revenue and operating profit growth this year.