- Subscriber base has reached 48,700 accounts, an increase of 19%
- Assets totalled $24,896,782, an increase of 46%
- Total revenues reached $14,450,129, an increase of 21%
- EBITDA rose to $6,595,255, an increase of 27%
- Income before taxes increased to $2,517,754, up by 30%
- Cash flow from operations increased to $7,906,761, up 51%
- We protect over 150,000 people across North America
- Over 20 years experience in the industry
- One of the few alarm companies to manufacture our own technology
- You deal directly with AlarmForce at all times
- Lowest prices and best value in the business
Financial Information
AlarmForce Industries Inc. 2004 Annual Report
Alarmforce Industries Inc. is Canada’s leading installer of two way voice home alarm systems. Innovative products and a strong commitment to customer satisfaction form the foundation for the company’s strong annual growth since it’s inception in 1988. Today our mission remains to provide technologically advanced, affordable alarm systems & home security systems to the residential marketplace while strengthening our operations, expanding our reach and providing value to shareholders.
| Restated* | Restated* | ||
| October 31 | 2004 | 2003 | 2002 |
| $ | $ | $ | |
| Subscriber base | 48,700 | 40,800 | 34,000 |
| Annual increase (%) | 19% | 20% | 17% |
| Operations: | |||
| Total revenue | 14,450,129 | 11,986,089 | 9,899,341 |
| Gross margins | 11,186,236 | 8,814,604 | 7,120,792 |
| EBITDA** | 6,595,255 | 5,203,087 | 3,849,754 |
| Income before income taxes | 2,517,754 | 1,940,371 | 1,197,381 |
| Net income | 1,275,986 | 1,301,509 | 787,381 |
| Cash flow from operations | 7,906,761 | 5,251,930 | 4,320,259 |
| Earnings per share | 0.12 | 0.14 | 0.11 |
| Diluted earnings per share | 0.11 | 0.13 | 0.11 |
| EBITDA per share** |
0.57 | 0.57 | 0.43 |
| Diluted EBITDA per share |
0.60 | 0.54 | 0.45 |
| Operating cash flow per share |
0.68 | 0.57 | 0.49 |
| Shares outstanding | 11,574,888 | 9,139,303 | 8,895,403 |
| Financial position: | |||
| Total assets | 24,896,782 | 17,007,331 | 14,563,480 |
| Shareholders’ equity | 16,439,057 | 9,061,190 | 7,489,698 |
| Debt/equity ratio | 0.135 | 0.445 | 0.480 |
| Debt/total assets ratio | 0.09 | 0.24 | 0.27 |
* Restated to reflect adoption of new accounting policy ** EBITDA (Earnings before interest, income taxes, depreciation and amortization) EBITDA is a key performance measure in the security industry and should not be interpreted as GAAP earnings. |
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The following key performance indicators showed significant increases from the prior year:
