Financial Information
The Company acquired property consisting of land and building in March 2006 to facilitate growth and expansion and completed its relocation from a previously leased space into this newly acquired building in August 2006. This new location will support the Company’s continuous growth and expansion of subscribers in Canada and the U.S., and also house the AlarmForce central monitoring station and the Company’s manufacturing facilities.
4. ANNUAL INFORMATION
The following summary of selected audited financial information is derived from, and should be read in conjunction with, the Company’s audited financial statements, including the notes thereto, for the years ended October 31, 2006, 2005 and 2004:
| 2006 | 2005 | 2004 | |
| $ | $ | $ | |
| Subscriber base | 66,300 | 57,000 | 48,700 |
| OPERATIONS: | |||
| Total revenue | 20,964,877 | 17,227,494 | 14,393,779 |
| Gross margin | 16,458,835 | 13,538,797 | 11,073,375 |
| EBITDA*** | 5,217,159 | 4,370,324 | 3,050,140 |
| Income before income taxes | 2,509,697 | 1,290,562 | 804,232 |
| Net income | 1,492,336 | 810,214 | 303,600 |
| Cash flow from operating activities | 4,945,232 | 3,518,787 | 4,238,574 |
| Basic earnings per share | 0.12 | 0.07 | 0.03 |
| Diluted earnings per share | 0.12 | 0.07 | 0.03 |
| Diluted EBITDA*** per share | 0.43 | 0.37 | 0.28 |
| 2006 | 2005 | 2004* | |
| $ | $ | $ | |
| FINANCIAL POSITION: | |||
| Total assets | 23,880,550 | 20,389,283 | 20,716,830 |
| Total long-term debt** | 1,256,062 | 945,721 | 2,216,601 |
| Shareholders’ equity | 15,521,703 | 13,678,912 | 12,782,338 |
| Debt/Equity ratio** | 0.08 | 0.07 | 0.17 |
| Debt** per subscriber account | 19 | 17 | 46 |
* Restated to reflect the new accounting policies adopted in 2005
** Includes building loan and revolving term loans (see Long-term Debt section)
*** Earnings Before Interest Tax Depreciation and Amortization is a key performance indicator in the security industry and should not be interpreted as GAAP earnings.
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Testimonials
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Excellent service and a very knowledgeable representative. Many thanks.
-Allie, ON -
Your technician was very professional. After he was finished, I knew I made the right choice.
-John, OH -
Very happy with service, installation and operation of equipment . We now feel more secure in our home.
-Victor, ON -
My job requires me to travel quite a bit usually out of the country, and having Alarm Force allows my family to feel safe and gives me peace of mind knowing that they are safe even when I am away. But the best thing about Alarm Force is the fantastic customer service they provide. Setting up the system was quick and easy and they answered all our questions and concerns. They are a great company to have protecting our home and I am glad I switched.
-M.H - Gahanna, OH -
Even if I ever relocate I will remain with AlarmForce.
-Jurgen, ON -
We have only set our alarm off once by accident. Rep was great. As far as we know we have not had any attempted break-ins and have not been broken into since AlarmForce was installed.
-Ivan & Mary F. -
"My last alarm system was only an audible alarm and not monitored. It did not thwart burglars from entering my home. I feel so much safer with AlarmForce personnel ready to respond to any trouble at my home. The AlarmForce representative was very thorough in understanding my needs and installation was easy! I would recommend AlarmForce to my friends and neighbors."
-Jill, Ham Lake, MN -
I feel very comfortable with your alarm system. When testing and the alarm has gone off, they phone right away. My other alarm company waited 2-3 minutes before they phoned. I'm alone a lot and lot at night and feel very secure with AlarmForce. Thank you.
-Rod, AB
