Last $30.22 USD
Change Today -0.22 / -0.72%
Volume 1.6M
As of 4:15 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

adt corp/the (ADT) Key Developments

The ADT Corp. Offer to Exchange New Registered Notes for the Outstanding Unregistered Notes

The ADT Corp. announced on April 4, its offer to exchange new registered notes for the outstanding unregistered notes that it issued in October 2013 in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. According to a release, under the exchange offer, the company is offering to exchange up to $1,000,000,000 aggregate principal amount of its outstanding $1,000,000,000 6.250% Notes due 2021 for a like principal amount of its new $1,000,000,000 6.250% Notes due 2021. The sole purpose of the Exchange Offer is to fulfill ADT's obligations under the registration rights agreement with holders of the unregistered notes. The company will not receive any proceeds from the issuance of the Exchange Notes. The Exchange Offer will expire at 5 pm ET on May 5, unless extended.

The ADT Corporation Announces Executive Changes

The ADT Corporation announced the appointment of Jerri DeVard to the position of senior vice president, chief marketing officer. DeVard, who most recently served as executive vice president, chief marketing officer of Nokia Corporation, will report directly to Naren Gursahaney, ADT's president and CEO. She will assume her post effective March 31, 2014. DeVard succeeds Tony Wells, who is leaving the organization after two years of service as ADT's chief marketing officer. Wells will stay with the company for several months to ensure a smooth transition of responsibilities.

The ADT Corporation Announces Quarterly Cash Dividend, Payable on May 21, 2014

The ADT Corporation announced its Board of Directors has declared a quarterly cash dividend of $0.20 per share of common stock. The dividend will be paid on May 21, 2014 to stockholders of record as of the close of business on April 30, 2014.

The ADT Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 27, 2013

The ADT Corporation reported unaudited consolidated earnings results for the first quarter ended December 27, 2013. For the period, the company reported net income of $77 million or $0.39 diluted per share on revenue of $839 million against net income of $105 million or $0.44 diluted per share on revenue of $809 million a year ago. Operating income was $165 million and income before income taxes was $120 million against operating income of $186 million and income before income taxes of $168 million a year ago. Net cash provided by operating activities was $335 million against $409 million a year ago. Capital expenditures were $12 million against $13 million a year ago. EBITDA was $411 million against $417 million a year ago.

ADT Corp Seeks Acquisitions

The ADT Corporation (NYSE:ADT) is looking for acquisitions. Michael Geltzeiler, Senior Vice President and Chief Financial Officer of ADT, said, "Being that our leverage target is 3 times, we have balance sheet flexibility as we continue to pursue a flexible, balanced capital allocation plan, including investing in organic growth, making acquisitions, and returning capital to shareholders in the form of dividends and share buybacks."


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Price/Earnings 16.6x
Price/Sales 1.8x
Price/Book 1.7x
Price/Cash Flow 14.2x
TEV/Sales 0.3x

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