- Revenue forecast implies full-year sales of $3.73 billion
- Rally follows third-quarter profit that exceeded estimates
ADT Corp., the provider of security services for residences and small businesses, jumped the most in more than three months after predicting growth in its subscriber base for the coming year.
Revenue for fiscal 2016 will rise as much as 4.5 percent, ADT said Tuesday. That implies sales of as much as $3.73 billion, compared with the $3.72 billion average of analysts’ estimates compiled by Bloomberg. The current fiscal year will end Sept. 30, spanning 53 weeks as the company shifts to the new concluding date.
ADT’s 2016 outlook included a projection for “subscriber base to increase above 2015 levels,” without saying what the change might be. Fourth-quarter profit excluding some items was 51 cents a share, topping the average estimate of 48 cents.
The stock climbed 4.4 percent, the biggest rally since July 29, to $33.99 at the close in New York. That pared ADT’s decline this year to 6.2 percent. ADT hasn’t posted an annual gain since the Boca Raton, Florida-based company was spun off from Tyco International Inc. in 2012.