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What: Security fell asleep on the job this morning and shares of Brinks
So what: Revenue grew 13% in the fourth quarter to $997 million, but non-GAAP earnings per share fell to $0.56 from $0.80 a year ago. Analysts had expected earnings of $0.63 per share on $1.05 billion in revenue.
Now what: Higher security costs affected margins leading to the lower-than-expected revenue. The company is hoping that a rapidly growing business in Latin America will help performance in the future. Revenue there grew 34% over last year, driven by an acquisition the company made in Mexico. Shares trade at just 12.7 times adjusted earnings per share for 2011, and considering the company's growth I think that's an attractive value in this business.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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