April 25 (Reuters) - Allegion ( ALLE ) reported

first-quarter profit above Wall Street estimates on Thursday,

helped by price hikes and strong demand for its security systems

in commercial buildings.

Steady demand from business clients in healthcare and

education institutions helped Allegion ( ALLE ) offset the weakness in

demand from residential buildings.

The company's price hikes for its locks, keys, and

electronic security systems also helped offset inflation-related

costs.

The Dublin-based company posted an adjusted profit of $1.55

per share, compared with estimates of $1.45 per share, according

to LSEG data.

The security product maker reported that its adjusted

operating margin for the first quarter rose to 21.2% from 20.8%

a year earlier.

Meanwhile, Allegion's ( ALLE ) first-quarter revenue fell 3.2% on a

reported basis to $893.9 million, hurt by slow demand for its

security systems in residential buildings; it was above

analysts' estimates of $884.2 million.

The company reaffirmed its full-year adjusted profit

expectations of $7.00 to $7.15 per share, total revenue growth

of 1.5% to 3.5%, and organic revenue growth of 1% to 3%.