Pinkerton’s Blames Loss on Repayment of Debt

Pinkerton’s Inc., a Van Nuys-based provider of security services, said it lost $574,000 in the second quarter because of a one-time, $2.8-million charge stemming from its repayment of debt.

The loss in the quarter that ended June 15 compared with net income of $1.34 million a year earlier, and came on a decline in Pinkerton’s revenue to $134.1 million compared with $140 million a year earlier.

Excluding the charge, Pinkerton’s latest second-quarter earnings totaled $2.22 million.

For the first half of its fiscal year, Pinkerton’s earned $205,000, compared with a profit of $2 million a year earlier. Its six-month revenue fell to $267.6 million from $279 million.