Financial Information
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
| 2004 | 2003 |
|
| $ | $ | |
| Retained Earnings, beginning of year as previously stated | 3,907,468 | 2,539,888 |
| Adjustments required in complying with EIC No. 142 | (655,307) | (589,236) |
| As restated | 3,252,161 | 1,950,652 |
| Net income for the year | 1,275,986 | 1,301,509 |
| Retained earnings, end of year | 4,528,147 | 3,252,161 |
See accompanying notes to financial statements.
CONSOLIDATED STATEMENT OF INCOME
| 2004 | 2003 |
|
| $ | $ | |
| Revenue | 14,450,129 | 11,986,089 |
| Cost of Sales | 3,263,893 | 3,171,485 |
| Gross Margins | 11,186,236 | 8,814,604 |
| Expenses | ||
| Selling | 1,297,205 | 1,075,557 |
| General and administrative | 3,293,776 | 2,535,960 |
| 4,590,981 | 3,611,517 | |
| Income from operations | ||
| before other expenses: | 6,595,255 | 5,203,087 |
| Other expenses: | ||
| Amortization: | ||
| Revenue equipment | 1,475,277 | 1,270,116 |
| Deferred charges | 2,135,928 | 1,612,350 |
| Intangible assets | 319,556 | 168,785 |
| Interest on long-term debt | 146,740 | 211,465 |
| 4,077,501 | 3,262,716 | |
| Income before income taxes | 2,517,754 | 1,940,371 |
| Income taxes (Note 11) | 1,241,768 | 638,862 |
| Net income for the year | 1,275,986 | 1,301,509 |
| Basic net income per common share, ( Note 14) | $ 0.12 | $ 0.14 |
| Diluted net income per common share, ( Note 14) | $ 0.11 | $ 0.13 |
See accompanying notes to financial statements.
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Testimonials
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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 happy with this service!
-Linda, AB -
Kenneth was professional, polite, patient. verbally skilled, helpful, i.e. excellent in every aspect.
-Caroly, Charlotte, NC -
The ease of mind with AlarmForce and the overall service I have received so far have been outstanding - thank you.
-Bettina, BC -
I am extremely satisfied when I am away and when I am at home. Your company goes the extra mile.
-Margaret, BC -
We've had a number of burglary issues in our community the past several months and my wife and young son were concerned about their safety when I was not home. As well, my job requires personal protection due to the nature of my business. Since having Alarm Force installed, it has brought peace of mind when at home and when away, especially on our recent vacation when I called to alert your team of my upcoming vacation and they set up the system and performed a system check at that time. Your people and service are top notch! The comfort and security it has brought my family is worth far more than the low installation and service costs!
-Terry, MN -
Your whole team is superb. We have highly recommended AlarmForce to anyone who asks. Keep up the great work!
-Spencer, ON -
Happy with the system - easy to use!
-Penny, BC
