Financial Information
OPERATING RESULTS BY BUSINESS SEGMENTSThe company operated primarily in only one reporting segment in Canada, which is the monitoring of residential security systems.
RELATED PARTY TRANSACTIONSThe company did not have any related party transactions as defined in the CICA recommendations.
SUMMARY OF QUARTERLY RESULTSThe following table sets out selected financial information for the company for the eight most recently completed quarters up to October 31, 2004, prepared in accordance with Canadian GAAP and expressed in Canadian currency:
| October 2004 |
July 2004 |
April 2004 |
January 2004 |
October 2003 |
July 2003 |
April 2003 |
January 2003 |
|
| $ | $ | $ | $ | $ | $ | $ | $ | |
| OPERA TIONS: |
||||||||
| Total revenue | 3,818,535 | 3,692,787 | 3,521,384 | 3,417,423 | 3,094,526 | 3,075,518 | 2,968,996 | 2,968,996 |
| Income before taxes | 511,845 | 492,310 | 914,578 | 599,021 | 584,176 | 337,979 | 556,656 | 461,560 |
| Net income | 131,617 | 210,186 | 587,474 | 346,709 | 493,892 | 155,969 | 373,372 | 278,276 |
| Basic earnings per share | 0.011 | 0.020 | 0.056 | 0.034 | 0.047 | 0.017 | 0.041 | 0.039 |
| Diluted earnings per share | 0.010 | 0.019 | 0.054 | 0.033 | 0.042 | 0.016 | 0.039 | 0.037 |
| FINANCIAL POSITION: | ||||||||
| Total assets | 24,896,782 | 24,097,717 | 20,037,491 | 19,571,252 | 17,007,331 | 16,375,643 | 15,719,197 | 15,132,024 |
DISCUSSION OF FOURTH QUARTER
2004In the fourth quarter, total revenues rose by $3.8 Million to $14.5 Million up by 36% and gross profit as a percentage of total revenue also increased by $3.2 Million or to 77 % from 75%. The increase in gross margin is primarily due to the increasing volume of net subscribers resulting in greater economies and efficiencies.
General and administrative expenses also increased by $1.2 Million or 57% in the fourth quarter. They were affected by the share-based compensation expense arising out of share options granted under the new accounting policy adopted in 2004. Certain start-up costs in the amount of $79,000 relating to the US operation were also incurred in the fourth quarter
This resulted in a decrease in income of $184,000 compared to previous quarters in which no such expense was recognized. The net income (after income taxes) in the fourth quarter was affected by the adjustment to reflect the actual cumulative income tax provision applicable for the 2004 fiscal year.
Ask a Question
Testimonials
-
Installer was very knowledgeable, helpful and polite. Very satisfied with all aspects of service!
-Glenn, BC -
AlarmForce is our best choice because it is completely wireless and there is contact with your security instantly if needed. We use AlarmForce all the time and really like the feature of protection when we go to bed on the second floor of our home we can move around upstairs but we know we are secure with the perimeter secure. We have had very good experience with all of your staff and when I first bought the service I had the minimum security but since then I have upgraded with more motion detectors and a fire alarm which is just great. We have a beagle and he has full access in the house when the alarm is on which is very satisfying. I have recommended AlarmForce to my neighbors and two alarms were activated one was for Health Security. When the alarm is on all is well.
-Roy Z. - Alberta -
AlarmForce gives me a no-nonsense protection that is not matched by other competitors. While cars outside our home have been tampered with and had contents stolen, no one has ever touched our home. Perhaps it is the name, perhaps it is the consistent reminders on your commercials, but the crooks seem to leave us alone now that we have AlarmForce.
-Art V. - Calgary, AB -
Hi my name is Maryanne, we have had AlarmForce in our home for around 5 years , a few years back my husband was out of town and it was my birthday and a few friends took me out on the town to celebrate and one girlfriend stayed the night with me in the house we turned the alarm on and went out after many glasses of wine we went back to my house my girlfriend and I walked in the house and never turned the alarm on ,Well, the alarm goes off and the operator says " AlarmForce identify yourself " I say ( very inebriated ) " It's Me!!" lol this went on till my friend intercepted and asked me "what's your password"!!! Thank God that gentleman operator was patient, kind and obviously had a sense of humor and shut the alarm off and enough compassion. Not to call the police and embarrass myself further was a blessing. Recently another alarm company wanted us to switch I said "No, they know me at AlarmForce"!!!
-Maryanne T - Okotoks, AB -
I am very satisfied with the prompt appointment and quick, easy installation. Simple to use - it even talks.. something that I think should be put on the website that it gives voice prompts. I accidentally set off the system somehow and all of a sudden I hear Attention this is the AlarmForce central station, identify yourself. I was just sitting on the couch playing with the phone features, so not sure what I did. It was so simple that I didn’t get a phone call, I just talked directly to the voice that came on. My old system that I had after the system went off or an silent alarm went off it could take up to 10 minutes to get a phone call. This was within 2 minutes that someone was there. I felt safe in my home but now I feel a lot safer and the installer put the motion detector up right the first time (I have a 60 lb dog and it took 3 trips for my old system before they got it right. Thanks AlarmForce and the best thing is the basic system is free so you only pay for the month of service and any extras that you need. That was a huge relief in the time of need. being tight on money with all the rising costs. The cost for my other system came to $52 a month and now I only pay $26 – another great thing with such a powerful alarm.
-Dustin, OH -
Mark was very helpful, Neil the installer was knowledgeable, patient and efficient with our needs.
-Rosanne, ON -
Absolutely awesome service! I have signed up 2 friends so far and look forward to adding more! Keep up the good work and low prices!
-Lori, ON -
I wouldn’t hesitate to recommend AlarmForce for your service and price
-Patricia, ON
