ADT (NYSE:ADT) announced its latest quarterly earnings results late on Monday, bringing in revenue that increased year-over-year, yet a loss following a year-ago profit played a role in its stock dropping after the bell.
For its fourth quarter of its fiscal 2018, the security systems services provider unveiled revenue of $1.19 billion, marking a 7% from the same period a year ago. The company’s loss tallied up to $149 million for the period, while in the year-ago period the business posted an income of $638 million.
ADT’s adjusted EBITDA for the quarter reached $614 million, a 3% gain compared to its fourth quarter of fiscal 2017. For its fiscal 2018, the company raked in sales of $4.58 billion, gaining 6% when compared to its fiscal 2017.
The company’s net loss for the fiscal year was $609 million, worse than the $343 million in net income from its fiscal 2017. ADT added that its adjusted EBITDA for the year was $2.45 billion, 4% higher than the same period a year ago.
“Completing a successful year for ADT, we delivered a strong fourth quarter and exceeded our financial outlook”, said Jim DeVries, ADT’s President and CEO. “We continue to demonstrate improvement across key operating metrics and strengthened our leadership in leading-edge home automation through the launch of ADT Command and Control.”
ADT stock is falling about 9.8% after hours on Monday as the company reported mixed results. Shares had been gaining 2.7% during regular trading hours ahead of ADT’s results.