In September 2008, GE Security CEO projected 2011 revenue of $3 Billion USD. Even at that time, the implied annual growth rate of 15% seemed unrealistic (GE Security reported 2007 revenues of $1.8 Billion).
Now, UTC is disclosing GE Security's revenue for 2008 and expected revenue for 2009.
- 2008 revenue was $1.5 Billion.
- 2009 revenue is expected to be only $1.2 Billion.
That's a 33% drop in just 2 years - bad even after factoring in the general impact of the recession. [See Slide 8 of UTC presentation
Furthermore, the acquisition price of $1.8 Billion is 1.5 times revenue which is significant for a business in such steep decline.
ADT Stock Drops 50% Since IPO
on May 17, 2018
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Arecont CEO And President Resign
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July 2018 IP Networking Course
on Jun 16, 2018
The last chance to save $50 on registration is this Thursday, June 21st. Register now and save.
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