Investor Relations
AlarmForce Industries Inc. 2008 Annual Report
Founded in 1988, AlarmForce Industries Inc. is Canada’s largest manufacturer of two-way voice burglar alarms. The Company installs and monitors its affordable, innovative security systems throughout Canada and in selected markets in the United States and has built a highly recognizable brand through its distinctive marketing.
In 2008, AlarmForce introduced AlarmCare, a Personal Emergency Response System which incorporates the Company’s proprietary two-way voice technology.
AlarmForce INDUSTRIES INC. is traded on the Toronto Stock Exchange under the symbol AF.
Revenue increased by 19% to $29,942,000
Earnings per share increased to 22 cents per share, a 100% increase
EBITDA increased by 56% to $7.4 million
Net income increased by 104 % to $2.6 million
Subscribers increased by 15% to 91,000
Financial Highlights
| 2008 | 2007 | 2006 | |
| Subscriber base | |||
| 91,000 | 79,200 | 66,300 | |
| $ | $ | $ | |
| Operations: | |||
| Total revenue | 29,942,385 | 25,136,125 | 20,964,877 |
| Gross margins | 23,346,082 | 20,005,802 | 16,458,835 |
| EBITDA** | 7,407,647 | 4,747,901 | 5,217,159 |
| Income before income taxes | 3,885,740 | 2,105,091 | 2,509,697 |
| Net income | 2,610,585 | 1,280,172 | 1,492,336 |
| Cash flow from operations | 6,812,715 | 2,737,038 | 4,945,232 |
| Earnings per share | 0.22 | 0.11 | 0.12 |
| Diluted earnings per share | 0.22 | 0.11 | 0.12 |
| Diluted EBITDA per share | 0.61 | 0.39 | 0.43 |
| Financial position: | |||
| Total assets | 29,311,049 | 25,251,571 | 23,880,550 |
| Total long-term debt*** | 1,454,167 | 1,759,369 | 1,256,062 |
| Shareholders’ equity | 19,582,560 | 16,839,675 | 15,521,703 |
| Debt/equity ratio** | 0.07 | 0.10 | 0.08 |
| Debt*** per subscriber account | 16 | 22 | 19 |
** Earnings Before Interest Tax Depreciation and Amortization is a key performance indicator in the security industry but should not be interpreted as GAAP earnings. *** Includes building loan and revolving term loans (see Long-term Debt section)
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Testimonials
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We feel very safe with our AlarmForce system. Any time we have called re: questions or assistance in changing the batteries, everyone has been very helpful. Thanks for the great service.
-Sharon, AB -
My name is Adey and we have been AlarmForce customers for 3 years and counting. As an Army wife my husband is constantly away on course or exercise so security is a huge issue in our house. While my husband was in Afghanistan it was AlarmForce that kept our house and children safe. Whenever I start to get nervous I just remember that I'm not alone and that someone else is helping to keep watch too. Thank you AlarmForce for being there for us when my husband can't!
-Adey R. - Wainwright AB -
We enjoy having AlarmForce in our home. It's a superior system that delivers on its promise of a much more affordable price than the other guys.
-Shane, AB -
We were victims of a home invasion in 2006. Wish we were AlarmForced then. Now we feel safe in our home. Thanks AlarmForce.
-Trina, BC -
I just wanted to write and let you know that I have an AlarmForce system in my home and yesterday someone broke in! I'm so pleased to say that the Alarm System worked....yeah!! I received a phone call right away and immediately knew that it wasn't a false alarm. I have a door with a glass window at the back - they smashed the window then walked through it ...... It was the sensor in the hallway that caught them! Nothing was taken from my home as the alarm system scared them away, as a matter of fact the police had to do a walk though before I could go in and they commented on how the alarm system scared them at first. I am so relieved to know that my home is safe and secure when I'm away.
-Maria, AB -
We have had our alarm system for many years now and have not had any problems. When we have set off the alarm, the reps I have dealt with have been wonderful.
-Bob, BC -
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 -
Very professional and nice technician.
-Andy, ON
