Financial Information
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
| 2005 | 2004 | |
| $ | $ | |
| Retained Earnings, beginning of year: | ||
| As previously reported | 4,528,147 | 3,252,161 |
| Restatement of consolidated financial statements (Note 3) |
(3,656,719) | (2,684,333) |
| As restated | 871,428 | 567,828 |
| Net income for the year | 810,214 | 303,600 |
| Retained earnings, end of year | $1,681,642 | $871,428 |
See accompanying notes to financial statements.
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
| 2005 | 2004 | |
| (Note 3) | ||
| Revenue | 17,227,494 | 14,393,779 |
| Cost of Sales | 3,688,697 | 3,320,404 |
| Gross Profit | 13,538,797 | 11,073,375 |
| Expenses | ||
| Selling | 5,966,172 | 4,812,790 |
| General and administrative | 3,202,301 | 3,210,444 |
| 9,168,473 | 8,023,234 | |
| Income from operations | ||
| before other expenses: | 4,370,324 | 3,050,140 |
| Other expenses: | ||
| Amortization: | ||
| Property, Plant and Equipment | 2,185,598 | 1,598,352 |
| Deferred charges | 9,592 | 10,404 |
| Intangible assets | 752,577 | 490,412 |
| Interest (Note 9) | 96,850 | 146,740 |
| 35,145 | ||
| 3,079,762 | 2,245,908 | |
| Income before income taxes | 1,290,563 | 804,232 |
| Income taxes (Note 10) | 480,349 | 500,632 |
| Net income for the year | $810,214 | $303,600 |
| Basic net income per common share, ( Note 13) | $ 0.07 | $ 0.03 |
| Diluted net income per common share, ( Note 13) | $ 0.07 | $ 0.03 |
See accompanying notes to financial statements.
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Testimonials
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On the occasions we have had to talk to Central Station, your representatives have always been very patient and courteous.
-Donna, AB -
Getting AlarmForce was one of the best things we ever did for our family. Last summer we were notified via cell phone of a potential break-in. We were 5 minutes away from our home and when we arrived an official AlarmForce security person was already at our home. Fortunately we believe one of our cats set the alarm off and it was a false alarm but the speed that AlarmForce used was incredibly comforting for us. Thank you. AlarmForce to us is a necessity not a luxury and gives us complete peace of mind. I also appreciate the "emergency" button on the control panel, especially when I have my elderly parents (both with health issues) staying with us. Being that they live out of town and do not know this area very well, if I leave them alone to run errands, etc. I simply remind them if there is a health issue, just press this button and the phone will ring within minutes (we are equipped for voip). Thank you again AlarmForce and continued success with your excellent products, staff and service!
-Gordon, ON -
We have had other alarm companies in the past and were very selective when choosing our alarm company on our last move. We checked out the local and national competitors. AlarmForce openly discussed the prices and service contract while others did not. AF also is one of the fewer companies that offer live voice through a speaker and can monitor any situation. This is great for our family and two children as it makes them feel safer knowing there is a LIVE person to talk to - or they can monitor what's really happening in our house. Sales staff is professional and never pushy.
-Jody S. - St. Albert, AB -
Still the best value in the industry!
-Dave, ON -
Thanks for being so nice when we accidentally set off the alarm.
-Sue, BC -
Doing a great job! Can't beat it for the money.
-Lonnie, NC -
I recently had some service done to our alarm system and after retelling the story my father had suggested that I email you about the experience. In fact, it really was no different then past service visits we have had with AlarmForce. The three guys I have seen over the last few years have all been fairly young and each of them has pleasantly surprised me with their professional demeanor. Each one of them has been courteous, friendly and organized. it starts with them showing up on time for the appointment, taking their shoes off without having to be asked, respecting their surroundings and always offering up advice or guidance with the system. In fact. even the service I receive on the phone from your central station has always been pleasant and professional. So all said, you've done an excellent job at training them to provide an exceptional customer experience. Anyways, I thought I'd share.
-Jamie, QC -
Your whole team is superb. We have highly recommended AlarmForce to anyone who asks. Keep up the great work!
-Spencer, ON






