Brink's Reports Third-Quarter Results

                    Brink's Reports Third-Quarter Results

GAAP EPS $.28 vs. $.66; Non-GAAP EPS $.50 vs. $.60

Improvement in Europe and North America Offset by Currency Impact and Lower
Profits in Latin America

2012 Segment Margin Rate Expected to be 6.7%

PR Newswire

RICHMOND, Va., Oct. 25, 2012

RICHMOND, Va., Oct. 25, 2012 /PRNewswire/ --The Brink's Company (NYSE: BCO),
a global leader in security-related services, today reported third-quarter
earnings.

Third-Quarter Highlights

GAAP:

  oRevenue down 2% (6% organic growth), EPS $.28 vs. $.66
  oSegment profit down 16% (2% organic decrease), margin 6.0% vs. 7.0%
  oInternational profit down 17% (2% organic decrease), margin 6.8% vs. 8.2%
  oNorth America margin 3.5% vs. 3.6%

Non-GAAP:

  oRevenue down 2% (6% organic growth), EPS $.50 vs. $.60
  oSegment profit down 16% (9% organic decrease), margin 6.2% vs. 7.2%
  oInternational profit down 20% (12% organic decrease), margin 6.7% vs.
    8.3%; EMEA improvement offset by lower profit in Latin America
  oNorth America cost reductions drive profit improvement; margin 4.5% vs.
    3.9%

Other:

  oFull-year 2012 outlook: segment margin lowered to 6.7% due to
    third-quarter government receivable write-off in Argentina and reduced
    earnings in Venezuela
  oYear-to-date segment margin 6.2% versus 6.0%; organic revenue growth 7%
  oCurrency impact: $76 million on revenue, $5 million on profit in third
    quarter; year-to-date impact $187 million on revenue, $12 million on
    profit
  oYear-to-date capital spending down $27 million; full-year estimate reduced
    to $210 million

Page 1

Tom Schievelbein, chairman, president and chief executive officer, said: "The
decline in third-quarter results was driven by lower profits in Latin America
which more than offset higher profits in Europe and North America.

"The lower results in Latin America included a government receivable write-off
in Argentina ($4 million) and reduced profits in Venezuela ($4 million), where
we expect continued pressure. As a result, we've reduced our full-year 2012
segment margin outlook to 6.7%. Our initial outlook for 2013 segment margin
isabout 7%. Organic revenue growth for 2013 is expected to remain in the 5%
to 8% range.

"We've made solid progress in our turnaround efforts in Europe, North America
and Mexico, and we will continue to take action in all regions to reduce costs
and improve productivity. Our capital spending has been reduced
substantially, and we expect our ongoing portfolio review to lead to the
reshaping of our footprint in selected markets. We're also strengthening our
leadership team in several key areas. We will continue to be aggressive in
our efforts to position Brink's to deliver value-added solutions for our
customers and improved returns for our shareholders."

Summary Reconciliation of Third-Quarter GAAP to Non-GAAP EPS*
                                         Third Quarter       Nine Months
                                         2012      2011      2012      2011
 GAAP EPS                              $ 0.28    $ 0.66    $ 1.26    $ 1.16
  Exclude U.S. retirement plan           0.18      0.09      0.56      0.27
  expenses
  Exclude employee benefit settlement    0.03      0.01      0.05      0.02
  and acquisition-related severance
  Exclude gains and losses on            0.03      (0.14)    (0.01)    (0.20)
  acquisitions and asset dispositions
  Exclude Belgium settlement             -         -         -         0.13
  Exclude tax benefit from change in
  retiree health care funding            -         -         (0.43)    -
  strategy
  Adjust quarterly tax rate to           (0.01)    (0.02)    0.06      (0.05)
  full-year average rate
 Non-GAAP EPS                          $ 0.50    $ 0.60    $ 1.47    $ 1.34

Summary of Third-Quarter Results*
                          Third Quarter               Nine Months
  (In millions, except 2012       2011    %         2012     2011   %
  per share amounts)                      Change                    Change
  GAAP
  Revenues             $  979     996     (2)    %  $ 2,913  2,888  1      %
         Segment
         operating        59      70      (16)        174    159    9
         profit (a)
         Non-segment      (22)    (8)     189         (68)   (39)   74
         expense
         Operating        37      63      (41)        106    120    (12)
         profit
  Income from
  continuing              14      32      (57)        61     56     10
  operations (b)
  Diluted EPS from
  continuing              0.28    0.66    (58)        1.26   1.16   9
  operations (b)
  Non-GAAP
  Revenues             $  979     996     (2)    %  $ 2,913  2,888  1      %
         Segment
         operating        60      72      (16)        180    173    4
         profit (a)
         Non-segment      (10)    (11)    (3)         (32)   (30)   6
         expense
         Operating        50      61      (18)        149    143    4
         profit
  Income from
  continuing              25      29      (15)        72     65     11
  operations (b)
  Diluted EPS from
  continuing              0.50    0.60    (17)        1.47   1.34   10
  operations (b)
         Segment operating profit is a non-GAAP measure that is reconciled to
  (a)    operating profit, a GAAP measure, on pages 3 and 4. Disclosure of
         segment operating profit enables investors to assess operating
         performance excluding non-segment income and expense.
  (b)    Amounts reported are attributable to shareholders of The Brink's
         Company and exclude earnings related to noncontrolling interests.
*Non-GAAP results are reconciled to the applicable GAAP results in more detail
on pages 10 and 11. Amounts may not add due to rounding.



Page 2



The Brink's Company and subsidiaries
Third Quarter 2012 vs. 2011 (Unaudited)
(In millions)
Segment Results – GAAP
                          Organic  Acquisitions  Currency        % Change
                                   /
                  3Q '11  Change   Dispositions  (c)       3Q    Total  Organic
                                   (b)                     '12
 Revenues:
  Latin America   $ 375   44       1             (34)      385   3      12
  EMEA              336   23       -             (38)      320   (5)    7
  Asia Pacific      40    1        -             (2)       39    (3)    2
   International    751   67       1             (75)      744   (1)    9
   North America    245   (9)      -             (1)       235   (4)    (4)
         Total    $ 996   58       1             (76)      979   (2)    6
 Operating
 profit:
  International   $ 61    (1)      (5)           (5)       51    (17)   (2)
  North America     9     -        -             -         8     (5)    (3)
   Segment
   operating        70    (1)      (5)           (5)       59    (16)   (2)
   profit
   Non-segment      (8)   (6)      (9)           -         (22)  189    72
   (a)
         Total    $ 63    (7)      (14)          (5)       37    (41)   (11)
 Segment
 operating
 margin:
 International      8.2%                                   6.8%
 North America      3.6%                                   3.5%
 Segment
 operating          7.0%                                   6.0%
 margin



Segment Results - Non-GAAP
                              Organic  Acquisitions  Currency        % Change
                                       /
                      3Q '11  Change   Dispositions  (c)       3Q    Total  Organic
                                       (b)                     '12
 Revenues:
     Latin America    $ 375   44       1             (34)      385   3      12
     EMEA               336   23       -             (38)      320   (5)    7
     Asia Pacific       40    1        -             (2)       39    (3)    2
       International    751   67       1             (75)      744   (1)    9
       North America    245   (9)      -             (1)       235   (4)    (4)
             Total    $ 996   58       1             (76)      979   (2)    6
 Operating profit:
     International    $ 62    (8)      -             (5)       50    (20)   (12)
     North America      10    1        -             -         11    11     12
       Segment
       operating        72    (6)      -             (5)       60    (16)   (9)
       profit
       Non-segment      (11)  -        -             -         (10)  (3)    (3)
       (a)
             Total    $ 61    (6)      -             (5)       50    (18)   (10)
 Segment operating
 margin:
 International          8.3%                                   6.7%
 North America          3.9%                                   4.5%
 Segment operating      7.2%                                   6.2%
 margin
 (a) Includes income and expense not allocated to segments.
     Includes operating results and gains/losses on acquisitions, sales and exits of
 (b) businesses. Also includes impairment charges related to businesses that we
     expect to dispose of in the near term.
     Revenue and Segment Operating Profit: The "Currency" amount in the table is the
     summation of the monthly currency changes, plus (minus) the U.S. dollar amount
     of remeasurement currency gains (losses) of bolivar fuerte-denominated net
     monetary assets recorded under highly inflationary accounting rules related to
     the Venezuelan operations. The monthly currency change is equal to the Revenue
     or Operating Profit for the month in local currency, on a country-by-country
     basis, multiplied by the difference in rates used to translate the current
 (c) period amounts to U.S. dollars versus the translation rates used in the
     year-ago month. The functional currency in Venezuela is the U.S. dollar under
     highly inflationary accounting rules. Remeasurement gains and losses under
     these rules are recorded in U.S. dollars but these gains and losses are not
     recorded in local currency. Local currency Revenue and Operating Profit used in
     the calculation of monthly currency change for Venezuela have been derived from
     the U.S. dollar results of the Venezuelan operations under U.S. GAAP (excluding
     remeasurement gains and losses) using current period currency exchange rates.
 Amounts may not add due to rounding.

Page 3

The Brink's Company and subsidiaries
Year-to-Date September 2012 vs. 2011 (Unaudited)
(In millions)
Segment Results – GAAP
                           Organic  Acquisitions  Currency         % Change
                                    /
                  YTD '11  Change   Dispositions  (c)       YTD    Total  Organic
                                    (b)                     '12
 Revenues:
  Latin America   $ 1,068  168      1             (90)      1,147  7      16
  EMEA              977    53       -             (88)      942    (4)    5
  Asia Pacific      114    6        -             (5)       115    1      5
   International    2,158  228      1             (182)     2,204  2      11
   North America    730    (15)     (3)           (5)       709    (3)    (2)
         Total    $ 2,888  213      (2)           (187)     2,913  1      7
 Operating
 profit:
  International   $ 133    22       5             (12)      148    12     16
  North America     26     -        -             -         26     (2)    (1)
   Segment
   operating        159    21       6             (12)      174    9      13
   profit
   Non-segment      (39)   (20)     (8)           -         (68)   74     53
   (a)
         Total    $ 120    1        (3)           (12)      106    (12)   1
 Segment
 operating
 margin:
 International      6.2%                                    6.7%
 North America      3.5%                                    3.6%
 Segment
 operating          5.5%                                    6.0%
 margin



Segment Results – Non-GAAP
                           Organic  Acquisitions  Currency         % Change
                                    /
                  YTD '11  Change   Dispositions  (c)       YTD    Total  Organic
                                    (b)                     '12
 Revenues:
  Latin America   $ 1,068  168      1             (90)      1,147  7      16
  EMEA              977    53       -             (88)      942    (4)    5
  Asia Pacific      114    6        -             (5)       115    1      5
   International    2,158  228      1             (182)     2,204  2      11
   North America    730    (15)     (3)           (5)       709    (3)    (2)
         Total    $ 2,888  213      (2)           (187)     2,913  1      7
 Operating
 profit:
  International   $ 145    15       -             (12)      148    3      11
  North America     28     4        -             -         32     14     14
   Segment
   operating        173    19       -             (12)      180    4      11
   profit
   Non-segment      (30)   (2)      -             -         (32)   6      6
   (a)
         Total    $ 143    17       -             (12)      149    4      12
 Segment
 operating
 margin:
 International      6.7%                                    6.7%
 North America      3.9%                                    4.5%
 Segment
 operating          6.0%                                    6.2%
 margin
Amounts may not add due to rounding. See page 3 for footnote explanations.

Page 4

Non-Segment Expenses
On a GAAP basis, non-segment expenses totaled $22 million, up from $8 million
in the year-ago quarter due to higher retirement plan expenses ($5 million)
and the inclusion in last year's results of gains on acquisitions and asset
dispositions ($9 million). On a non-GAAP basis, non-segment expenses were
relatively flat.

Capital Expenditures and Capital Leases
Year-to-date capital expenditures and capital lease additions were $132
million versus $159 million in 2012. The reduction was $19 million in North
America and $8 million in International. Full-year 2012 capital spending and
capital leases are expected to be approximately $210 million versus $239
million in 2011.

Income Taxes
On a GAAP basis, Brink's recorded a third-quarter tax expense of $15 million
(effective rate of 45%) versus $21 million (effective rate of 37%) in 2011.
Last year's lower rate was due primarily to a $4 million income tax benefit
related to a valuation allowance release in the U.S. The effective GAAP tax
rate for 2012 is expected to be between 26% and 29%. Non-GAAP earnings for
the third quarter reflect an effective tax rate of 38.5%, which is the
midpoint of the estimated non-GAAP full-year range of 37% to 40%.

Conference Call
Brink's will host a conference call on October 25 at 11:00 a.m. Eastern Time
to review third-quarter results. Interested parties can listen by calling
(800) 860-2442 (domestic), (412) 858-4600 (international), or via live webcast
at www.Brinks.com. Please call in at least five minutes prior to the start of
the call. A replay will be available through November 9, 2012, by calling
(877) 344-7529 (domestic) or + (412) 317-0088 (international). The conference
account number is 10019058. A webcast replay will also be available at
www.Brinks.com.

About The Brink's Company
The Brink's Company (NYSE:BCO) is the world's premier provider of secure
transportation and cash management services. For more information, please
visit The Brink's Company website at www.Brinks.com or call 804-289-9709.

Non-GAAP Results
Non-GAAP results described in this earnings release are financial measures
that are not required by, or presented in accordance with U.S. generally
accepted accounting principles ("GAAP"). The purpose of the non-GAAP results
is to report financial information without certain income and expense items
and adjust the quarterly non-GAAP tax rates so that the quarterly rate is
equal to the full-year non-GAAP tax rate. For 2012, a forecasted full-year
tax rate is used. The full year non-GAAP tax rate in both years excludes
certain pretax and tax income and expense amounts. The non-GAAP results
provide information to assist comparability and estimates of future
performance. Brink's believes these measures are helpful in assessing
operations and estimating future results and enable period-to-period
comparability of financial performance. In addition, Brink's believes the
measures will help investors assessongoing operations. Non-GAAP results
should not be considered as an alternative to revenue, income or earnings per
share amounts determined in accordance with GAAP and should be read in
conjunction with their GAAP counterparts.

Page 5

Forward-Looking Statements
This release contains both historical and forward-looking information. Words
such as "anticipates," "estimates," "expects," "projects," "predicts,"
"intends," "plans," "believes," "potential," "may," "should" and similar
expressions may identify forward-looking information. Forward-looking
information in thisrelease includes, but is not limited to, future
performance for The Brink's Company and its global operations, including
organic revenue growth and segment operating profit margin in 2012 and2013,
cost reduction and productivity measures and future results in Europe, North
America, and Latin America (includingour operation in Mexico),
anticipatedcapital spending and capital leases,the anticipated annual
effective tax rate for 2012. Forward-looking information in this document is
subject to known and unknown risks, uncertainties and contingencies, which are
difficult to predict or quantify, and which could cause actual results,
performance or achievements to differ materially from those that are
anticipated.

These risks, uncertainties and contingencies, many of which are beyond our
control, include, but are not limited to:

  ocontinuing market volatility and commodity price fluctuations and their
    impact on the demand for our services,
  oour ability to continue profit growth in Latin America,
  oour ability to maintain or improve volumes at favorable pricing levels and
    increase cost efficiencies in the United States and Europe,
  oinvestments in information technology and value-added services and their
    impact on revenue and profit growth,
  oour ability to implement high-value solutions,
  orisks customarily associated with operating in foreign countries including
    changing labor and economic conditions, currency devaluations, safety and
    security issues, political instability, restrictions on repatriation of
    earnings and capital, nationalization, expropriation and other forms of
    restrictive government actions,
  othe strength of the U.S. dollar relative to foreign currencies and foreign
    currency exchange rates,
  othe stability of the Venezuelan economy, changes in Venezuelan policy
    regarding foreign-owned businesses, and changes in exchange rates,
  ofluctuations in value of the Venezuelan bolivar fuerte,
  oregulatory and labor issues in many of our global operations, including
    negotiations with organized labor,
  oour ability to identify and execute further cost and operational
    improvements and efficiencies in our core businesses,
  oour ability to integrate successfully recently acquired companies and
    improve their operating profit margins,
  othe actions of competitors, our ability to identify acquisitions and other
    strategic opportunities in emerging markets,
  othe willingness of our customers to absorb fuel surcharges and other
    future price increases,
  othe impact of turnaround actions responding to current conditions in
    Europe and our productivity and cost control efforts in that region,
  oour ability to obtain necessary information technology and other services
    at favorable pricing levels from third party service providers,
  ovariations in costs or expenses and performance delays of any public or
    private sector supplier, service provider or customer,
  oour ability to obtain appropriate insurance coverage, positions taken by
    insurers with respect to claims made and the financial condition of
    insurers, safety and security performance, our loss experience, changes in
    insurance costs,
  osecurity threats worldwide and losses of customer valuables,
  ocosts associated with the purchase and implementation of cash processing
    and security equipment, employee and environmental liabilities in
    connection with our former coal operations, black lung claims incidence,
  othe impact of the Patient Protection and Affordable Care Act on black lung
    liability and the Company's ongoing operations,
  ochanges to estimated liabilities and assets in actuarial assumptions due
    to payments made, investment returns, interest rates and annual actuarial
    revaluations, the funding requirements, accounting treatment, investment
    performance and costs and expenses of our pension plans, the VEBA and
    other employee benefits, mandatory or voluntary pension plan
    contributions, the nature of our hedging relationships,
  ochanges in estimates and assumptions underlying our critical accounting
    policies,
  othe outcome of pending and future claims and litigation,
  oaccess to the capital and credit markets,
  oseasonality, pricing and other competitive industry factors.

This list of risks, uncertainties and contingencies is not intended to be
exhaustive. Additional factors that could cause our results to differ
materially from those described in the forward-looking statements can be found
under "Risk Factors" in Item 1A of our Annual Report on Form 10-K for the
period ended December 31, 2011 and in our other public filings with the
Securities and Exchange Commission. The forward looking information included
in this document is representative only as of the date of this document, and
The Brink's Company undertakes no obligation to update any information
contained in this document.

Page 6



The Brink's Company and subsidiaries
Outlook Summary (Unaudited)
(In millions)
                               GAAP                      Non-GAAP
                                            Full                      Full
                               Full-Year    Year         Full-Year    Year
                                            2012                      2012
                               2011         Estimate     2011         Estimate
Organic revenue growth
    International              12 %         7% – 10%     12 %         7% – 10%
    North America              -            (2)%         -            (2)%
       Total                   8 %          5% – 8%      8 %          5% – 8%
Currency impact on revenue
    International              5 %          (5)% –       5 %          (5)% –
                                            (7)%                      (7)%
    North America              1 %          (1)%         1 %          (1)%
       Total                   4 %          (3)% –       4 %          (3)% –
                                            (5)%                      (5)%
Segment margin
    International              6.9 %        7.0% –       7.3 %        7.0% –
                                            8.0%                      8.0%
    North America              3.2 %        3.6% –       3.6 %        4.5% –
                                            4.1%                      5.0%
       Total                   5.9 %        6.7%         6.3 %        6.7%
Non-segment expense
    General and              $ 43         $ 43         $ 43         $ 43
    administrative
    Retirement plans (a)       25           47           -            -
    Royalty income             (2)          (2)          (2)          (2)
    CEO retirement costs       4            -            -            -
    (b)
    Gains on acquisitions
    and asset dispositions     (10)         (1)          -            -
    (c)
       Non-segment expense   $ 60         $ 87         $ 41         $ 41
Effective income tax rate      38 %         26% –        39 %         37% –
                                            29%                       40%
Interest expense             $ 24         $ 21 – 24    $ 24         $ 21 – 24
Net income attributable to
    noncontrolling           $ 24         $ 19 – 23    $ 23         $ 17 – 21
    interests
Fixed assets acquired:
    Capital expenditures     $ 196        $ 190        $ 196        $ 190
    Capital leases (d)         43           20           43           20
       Total                 $ 239        $ 210        $ 239        $ 210
Depreciation and             $ 162        $ 165 –      $ 162        $ 165 –
amortization                                180                       180
(a) Costs related to U.S. retirement plans have been excluded from non-GAAP
    results.
(b) Costs related to the 2011 retirement of the former CEO are excluded from
    non-GAAP results.
(c) The following gains are excluded from non-GAAP results:
    - sale of the U.S. document destruction business ($6.7 million),
    - gains on acquisitions and dispositions ($2.5 million in 2011 and $0.8
    million in 2012),
    - sales of former operating assets ($0.5 million) in 2011.
    Includes capital leases for newly acquired assets only. Sales leaseback
(d) transactions that occurred during 2011 of $18 million for assets that were
    originally purchased and included as capital expenditures have been
    excluded from "Fixed assets acquired – capital leases."
Amounts may not add due to rounding.



Page 7





The Brink's Company and subsidiaries
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share amounts)
                                           Third Quarter      Nine Months
                                           2012     2011      2012     2011
 Revenues                                  $ 979.0  995.8   $ 2,912.9  2,888.4
 Costs and expenses:
 Cost of revenues                            799.0  807.7     2,384.9  2,373.9
 Selling, general and administrative         147.4  136.6     427.4    400.3
 expenses
   Total costs and expenses                  946.4  944.3     2,812.3  2,774.2
 Other operating income (expense)            4.5    11.0      5.4      5.7
   Operating profit                          37.1   62.5      106.0    119.9
 Interest expense                            (5.7)  (6.5)     (17.4)   (18.2)
 Interest and other income (expense)         1.5    1.3       6.3      6.8
   Income from continuing operations         32.9   57.3      94.9     108.5
   before tax
 Provision for income taxes                  14.7   20.9      20.8     37.9
   Income from continuing operations         18.2   36.4      74.1     70.6
 Income from discontinued operations, net    -      (0.7)     -        3.0
 of tax
   Net income                                18.2   35.7      74.1     73.6
          Less net income attributable to    (4.7)  (4.9)     (13.1)   (14.9)
          noncontrolling interests
   Net income attributable to Brink's      $ 13.5   30.8    $ 61.0     58.7
 Amounts attributable to Brink's:
 Income from continuing operations         $ 13.5   31.5    $ 61.0     55.7
 Income from discontinued operations         -      (0.7)     -        3.0
   Net income attributable to Brink's      $ 13.5   30.8    $ 61.0     58.7
 Earnings per share attributable to
 Brink's common shareholders (a):
   Basic:
          Continuing operations            $ 0.28   0.66    $ 1.26     1.17
          Discontinued operations            -      (0.02)    -        0.06
          Net income                         0.28   0.64      1.26     1.23
   Diluted:
          Continuing operations            $ 0.28   0.66    $ 1.26     1.16
          Discontinued operations            -      (0.02)    -        0.06
          Net income                         0.28   0.64      1.26     1.22
   (a)   Earnings per share may not add
          due to rounding.
 Weighted-average shares
   Basic                                     48.5   48.0      48.4     47.8
   Diluted                                   48.6   48.1      48.6     48.1



Page 8





The Brink's Company and subsidiaries
Supplemental Financial Information (Unaudited)
(In millions)
                                                     Nine Months
      SELECTED CASH FLOW INFORMATION                 2012   2011
Property and Equipment Acquired During the Period:
      Capital expenditures
            International                          $ 82.4   85.6
            North America                            38.2   33.1
                 Capital expenditures                120.6  118.7
      Capital Leases (a)
            International                            2.7    7.0
            North America                            8.9    33.0
                 Capital Leases                      11.6   40.0
      Total
            International                            85.1   92.6
            North America                            47.1   66.1
                 Total                             $ 132.2  158.7
      Depreciation and amortization:
            International                          $ 78.9   78.6
            North America                            47.1   41.9
                 Depreciation and amortization     $ 126.0  120.5

    Represents the amount of property and equipment acquired using capital
    leases. Since these assets are acquired without using cash, the
(a) acquisitions are not reflected in the consolidated cash flow statement.
    Amounts are provided here to assist in the comparison of assets acquired
    in the current year versus prior years. Sales leaseback transactions are
    excluded from "Capital leases" in this table.



Page 9





The Brink's Company and subsidiaries
Non-GAAP Results Reconciled to GAAP (Unaudited)
(In millions, except for per share amounts)
                                                                  Tax
                                                                  Benefit
                            Gains and     Employee                on        Adjust
                            Losses on     Benefit     U.S.        Change    Income
                    GAAP    Acquisitions  Settlement  Retirement  in        Tax     Non-GAAP
                    Basis   and           and         Plans (c)   Health    Rate    Basis
                            Dispositions  Severance               Care      (e)
                            (a)           Losses (b)              Funding
                                                                  Strategy
                                                                  (d)
                  Third Quarter 2012
Operating profit:
    International $ 50.8    (2.9)         2.0         -           -         -       49.9
    North America   8.3     -             -           2.2         -         -       10.5
       Segment
       operating    59.1    (2.9)         2.0         2.2         -         -       60.4
       profit
    Non-segment     (22.0)  0.1)          -           11.5        -         -       (10.4)
       Operating  $ 37.1    (2.8)         2.0         13.7        -         -       50.0
       profit
Amounts
attributable to
Brink's:
Income from
continuing        $ 13.5    1.3           1.4         8.6         -         (0.3)   24.5
operations
Diluted EPS –
continuing          0.28    0.03          0.03        0.18        -         (0.01)  0.50
operations
                  Nine Months 2012
Operating profit:
    International $ 148.1   (2.9)         3.1         -           -         -       148.3
    North America   25.5    -             -           6.6         -         -       32.1
       Segment
       operating    173.6   (2.9)         3.1         6.6         -         -       180.4
       profit
    Non-segment     (67.6)  (0.8)         -           36.7        -         -       (31.7)
       Operating  $ 106.0   (3.7)         3.1         43.3        -         -       148.7
       profit
Amounts
attributable to
Brink's:
Income from
continuing        $ 61.0    (0.5)         2.2         27.1        (20.9)    2.7     71.6
operations
Diluted EPS –
continuing          1.26    (0.01)        0.05        0.56        (0.43)    0.06    1.47
operations
(a) To eliminate:
    - Gains related to the sale of investments in mutual fund securities ($1.9 million) in
    the first quarter and $0.5 million in the third quarter. Proceeds from the sales were
    used to fund the settlement of pension obligations related to our former Chief Executive
    Officer and Chief Administrative Officer.
    - Gains and losses related to business acquisitions and dispositions. A $0.9 million gain
    was recognized in the second quarter and a $0.1 million loss was recognized in the third
    quarter.
    - Third quarter gain on the sale of real estate in Venezuela ($7.2 million)
    - Third quarter impairment losses of $4.3 million on long-lived assets related to certain
    operations expected to be sold in the near term.
    To eliminate employee benefit settlement and acquisition-related severance losses (Mexico
(b) and Argentina). Employee termination benefits in Mexico are accounted for under FASB ASC
    Topic 715, Compensation – Retirement Benefits.
(c) To eliminate expenses related to U.S. retirement plans.
(d) To eliminate tax benefit related to change in retiree health care funding strategy.
    To adjust effective income tax rate in the interim period to be equal to the midpoint of
(e) the estimated range of the full-year non-GAAP effective income tax rate. The midpoint of
    the estimated range of the full-year non-GAAP effective tax rate for 2012 is 38.5%.


Amounts may not add due to rounding.



Page 10





The Brink's Company and subsidiaries
Non-GAAP Results Reconciled to GAAP (Unaudited)
(In millions, except for per share amounts)
                            Gains on                   Employee                Adjust
                    GAAP    Acquisitions   Belgium     Benefit     U.S.        Income  Non-GAAP
                    Basis   and            Settlement  Settlement  Retirement  Tax     Basis
                            Dispositions  Charge (b)  Losses (c)  Plans (d)  Rate
                            (a)                                                (e)
                  Third Quarter 2011
Operating profit:
    International $ 61.4    -              -           0.7         -           -       62.1
    North America   8.7     -              -           -           0.8         -       9.5
       Segment
       operating    70.1    -              -           0.7         0.8         -       71.6
       profit
    Non-segment     (7.6)   (9.3)          -           -           6.2         -       (10.7)
       Operating  $ 62.5    (9.3)          -           0.7         7.0         -       60.9
       profit
Amounts
attributable to
Brink's:
Income from
continuing        $ 31.5    (6.6)          -           0.5         4.4         (1.1)   28.7
operations
Diluted EPS –
continuing          0.66    (0.14)         -           0.01        0.09        (0.02)  0.60
operations
                  Nine Months 2011
Operating profit:
    International $ 132.8   -              10.1        1.7         -           -       144.6
    North America   25.9    -              -           -           2.3         -       28.2
       Segment
       operating    158.7   -              10.1        1.7         2.3         -       172.8
       profit
    Non-segment     (38.8)  (9.7)          -           -           18.6        -       (29.9)
       Operating  $ 119.9   (9.7)          10.1        1.7         20.9        -       142.9
       profit
Amounts
attributable to
Brink's:
Income from
continuing        $ 55.7    (9.6)          6.4         1.2         13.2        (2.4)   64.5
operations
Diluted EPS –
continuing          1.16    (0.20)         0.13        0.02        0.27        (0.05)  1.34
operations
    To eliminate gain recognized on the sale of the U.S. Document Destruction business, gains on
(a) available-for-sale equity and debt securities, gains related to acquisition of controlling
    interest in subsidiaries that were previously accounted for as equity or cost method
    investments, and gains on sales of former operating assets, as follows:

                              Third Quarter 2011           Nine Months 2011
       (In millions,          Operating                    Operating
       except per share                       EPS                       EPS
       amounts)               Profit                       Profit
       Sale of U.S.
       Document            $  (6.7)        $  (0.09)    $  (6.7)      $ (0.09)
       Destruction
       business
       Gains on
       available-for-sale     -               -            -            (0.05)
       equity and debt
       securities
       Acquisition of
       controlling            (2.1)           (0.04)       (2.5)        (0.05)
       interests
       Sale of former         (0.5)           (0.01)       (0.5)        (0.01)
       operating assets
                           $  (9.3)        $  (0.14)    $  (9.7)      $ (0.20)
(b) To eliminate settlement charge related to exit of Belgium cash-in-transit
    business.
    To eliminate employee benefit settlement loss related to Mexico. Portions
    of Brink's Mexican subsidiaries' accrued employee termination benefit were
(c) paid in the second and third quarters of 2011. The employee termination
    benefit is accounted for under FASB ASC Topic 715, Compensation –
    Retirement Benefits. Accordingly, the severance payments resulted in
    settlement losses.
(d) To eliminate expenses related to U.S. retirement plans.
(e) To adjust effective income tax rate to be equal to the full-year 2011
    non-GAAP effective income tax rate of 38.6%.
Amounts may not add due to rounding.



Contact:
Investor Relations
804.289.9709



SOURCE The Brink's Company

Website: http://www.brinkscompany.com
 
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