Consolidated Statement of Retained Earnings For the years ended Oct 31, 2006 and Oct. 31, 2005
| 2006 | 2005 | |
| $ | $ | |
| Retained Earnings, beginning of year | 1,681,642 | 871,428 |
| Net income for the year | 1,492,336 | 810,214 |
| Retained earnings, end of year | $3,173,978 | $1,681,642 |
Consolidated Statement of Income For the years ended Oct 31, 2006 and Oct. 31 2005
| 2006 | 2005 | |
| $ | $ | |
| Sales | 20,964,877 | 17,227,494 |
| Cost of Sales | 4,506,042 | 3,688,697 |
| Gross Profit | 16,458,835 | 13,538,797 |
| Expenses | ||
| Selling | 7,611,097 | 5,966,172 |
| General and administrative | 3,630,579 | 3,202,301 |
| 11,241,676 | 9,168,473 | |
| Income from operations before other expenses | 5,217,159 | 4,370,324 |
| Other expenses: | ||
| Amortization: | ||
| Property, plant and equipment | 1,821,279 | 2,185,598 |
| Deferred charges | 9,591 | 9,592 |
| Intangible assets | 754,173 | 752,577 |
| Interest (Note 8) | 82,072 | 96,850 |
| Foreign exchange | 40,347 | 35,145 |
| 2,707,462 | 3,079,762 | |
| Income before income taxes | 2,509,697 | 1,290,562 |
| Income taxes (Note 9) | 1,017,361 | 480,349 |
| Net income for the year | $1,492,336 | $810,214 |
| Basic earnings per share, ( Note 12) | $0.12 | $0.07 |
| Fully diluted earnings per share, ( Note 12) | $0.12 | $0.07 |
See accompanying notes to financial statements.
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Testimonials
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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 -
Installer was very. very helpful. Made sure I knew how to operate system. Questions answered.
-William, OH -
From the first person I spoke to when I made my initial inquiry to the installer Neil - I found professionalism and courtesy. Kudos!
-Karen, ON -
AlarmForce provides the exceptional services. I made a couple mistakes for false alarm. They responded in really professional way. Plus the two way communication technology is great. We feel much safer now when we got AlarmForce.
-Peng Z. - Calgary, AB -
Installation was excellent and very knowledgeable about questions and options.
-William, OH -
AlarmForce is great protect house if it is break in or forgot to turn alarm off that they will come in that's make sure to check it that's very safety. When I was wrong to click button "alarm on" for alarm off then I never noticed signal alarm until security police came in my house and asked me if it is alarm. I thought it is alarm off; I realized to notice it signal light red flash, I guess I was wrong to click button alarm on then turned off alarm. I am thank you to alarm force to safety for me. AlarmForce is very security every houses if I would recommend AlarmForce to my friend about it. My friend will plan to get AlarmForce next January when they will move in new house.
-Tim P. - Calgary, AB -
Set off by mistake. Response was very quick and expertly carried out.
-Robert, OH -
I just changed my batteries for the first time and I had to call the customer care department to make sure everything was ok and they were very helpful.
-Paula, BC
