Tag: Allegion
Allegion elevated as promoter and board member of Connectivity Standards Alliance
September 6, 2023SSN Staff
CARMEL, Ind.– Security products provider Allegion has been named a promoter member of the Connectivity Standards Alliance (the Alliance) and elevated to a seat on the Alliance Board of Directors.
Made up of more than 600 companies, the Alliance creates, maintains, and delivers open global standards for the Internet of Things (IoT). As a part of this organization, Allegion will help develop and promote those standards, which are expected to improve user experiences in smart home and smart...
Allegion Q2 results show continued momentum
July 26, 2023SSN Staff
DUBLIN – Allegion held its 2023 second quarter earnings call on July 26, and the results are a year of positive gain and increased expectations.
These results mirror a surprisingly well-padded first quarter that could not be dampened by the soft residential market. Now several months later Allegion is reporting revenues of $912.5 million, up 18% on a reported basis and up 5.6% on an organic basis in the second quarter of 2023.
“In Q2, strength across both residential and nonresidential...
Sentry Enterprises announces biometric authentication alliance with Allegion
June 20, 2023SSN Staff
WEST CHESTER, Pa.—Sentry Enterprises has announced an alliance with Allegion for customers seeking “trusted-identity” utilizing two-factor biometric authentication without an expensive infrastructure investment.
Allegion, with leading brands like Schlage, Von Duprin and LCN, specializes in security around the doorway and beyond, with products that help keep people safe and secure where they live, work, learn and visit. Sentry Enterprises is the creator and maker of the SentryCard,...
PSA Network announces 2023 P3 partners
April 3, 2023SSN Staff
WESTMINSTER, Colo.—The PSA Network, the world’s largest consortium of professional systems integrators, has announced the PSA Partner Program (P3) members for 2023.
The 2023 P3 provides technology partners with additional opportunities to connect with PSA members and owners. P3 technology partners are required to meet specific criteria that align with PSA’s strategic goals and offer the most advantages to PSA members and owners. These strategic partnerships empower...
Kaadas launches expansion into North America
January 5, 2023SSN Staff
LAS VEGAS – Chinese smart lock brand Kaadas showcased its line of smart lock solutions at CES 2023 in launching its expansion into North America.
The Kaadas Group announced in a release that the rapidly growing company is adding employees throughout North America, and that Kaadas North America will be operating a warehouse in Southern California with a complete, full product showroom. The branch is set to offer traditional electronic locks as well as Wi-Fi, Bluetooth,...
Allegion acquiring workforce management solution via plano group
November 7, 2022SSN Staff
DUBLIN – Global security product and solutions provider Allegion has signed a “definitive” agreement through one of its subsidiaries to acquire the assets of the plano Group and its SaaS workforce management solution.
The deal is expected to close sometime during the first fiscal quarter of 2023. Following that, plano will continue to serve advanced workforce management (AWFM) for customers within the Interflex portfolio. General Manager of Interflex, Bernhard Sommer, said that...
Allegion provides report on Q3 2022 financial results
October 27, 2022Ken Showers, Managing Editor
DUBLIN – Allegion plc released its third quarter fiscal 2022 financial results on Oct. 27, as well as a revised outlook for the remainder of 2022.
The company saw a net earnings per share (EPS) of $1.30 compared to $1.59 in 2021, with an adjusted EPS of $1.64, up roughly 5 percent from $1.56 in 2021. Allegion posted Q3 2022 revenues of $913.7 million, up 27.4 percent reported and 18.6 percent organically.
“Allegion delivered a very strong...
Allegion releases second-quarter financial results
August 2, 2022SSN Staff
DUBLIN – Allegion recently released its second-quarter financial results, with a healthy stable outlook for the rest of the year.
The global provider of security products and solutions posted Q2 2022 net revenues of $773.1 million and net earnings of $115.1 million, or $1.30 per share. Excluding charges related to restructuring, acquisition and integration expenses, debt financing, as well as non-operating investment gains, adjusted net earnings were $121.1 million, or $1.37 per share, up...
Allegion completes acquisition of Stanley Access Technologies
July 6, 2022SSN Staff
DUBLIN—Allegion plc, a global security products and solutions provider, has completed the previously announced acquisition of Stanley Access Technologies LLC and assets related to the automatic entrance solutions business from Stanley Black & Decker, Inc. for $900 million in cash.
Access Technologies is a manufacturer, installer and service provider of automatic doors in North America, primarily in the United States and Canada. Its diversified customer base centers on non-residential...
Allegion announces CEO succession
May 31, 2022SSN Staff
DUBLIN—Allegion plc, a leading global provider of security products and solutions, today announced that John H. Stone will succeed David D. Petratis as president and CEO, effective July 11, 2022.
Stone will also become a member of the company’s Board of Directors at that time, and Petratis will serve as executive chairman until his retirement, which is expected by Jan. 2, 2023.
Petratis has led Allegion since its spin-off from the former Ingersoll Rand in 2013, capping off a distinguished...