Financial Information
6. SUMMARY OF QUARTERLY RESULTS
The following table sets out selected financial information for the Company for the eight most recently completed quarters up to October 31, 2008, prepared in accordance with Canadian GAAP and expresed in Canadian currency:
| Oct 2008 | Jul 2008 | Apr 2008 | Jan 2008 | |
| Change in subscriber base | 3,500 | 2,100 | 2,800 | 3,400 |
| $ | $ | $ | $ | |
| OPERATIONS: | ||||
| Total revenue | 853,713 | 7,577,109 | 7,317,399 | 7,098,867 |
| Income before taxes | 1,222,236 | 839,217 | 764,216 | 1,060,071 |
| Net income | 852,866 | 553,926 | 523,722 | 680,071 |
| Basic earnings per share | 0.07 | 0.05 | 0.04 | 0.06 |
| Fully diluted earnings per share | 0.07 | 0.05 | 0.04 | 0.06 |
| FINANCIAL POSITION: | ||||
| Total assets | 29,311,049 | 26,889,711 | 26,414,026 | 25,975,553 |
| Shareholders’ equity | 19,582,560 | 18,729,694 | 18,175,768 | 17,519,746 |
| Oct 2007 | Jul 2007 | Apr 2007 | Jan 2007 | |
| Change in subscriber base | 4,300 | 3,500 | 2,700 | 2,400 |
| $ | $ | $ | $ | |
| OPERATIONS: | ||||
| Total revenue | 6,662,915 | 6,447,655 | 6,177,635 | 5,847,920 |
| Income before taxes | 641,545 | 129,278 | 433,167 | 901,101 |
| Net income | 358,626 | 81,278 | 274,167 | 566,101 |
| Basic earnings per share | 0.03 | 0.01 | 0.02 | 0.05 |
| Fully diluted earnings per share | 0.03 | 0.01 | 0.02 | 0.05 |
| FINANCIAL POSITION: | ||||
| Total assets | 25,251,571 | 25,825,876 | 24,712,357 | 23,421,288 |
| Shareholders’ equity | 16,839,675 | 16,481,050 | 16,361,972 | 16,087,805 |
7. DISCUSSION OF FOURTH QUARTER 2008
In the fourth quarter, total revenues amounted to approximately $7.9 million up by 19% from the 2007 corresponding quarter.
Income before taxes in the fourth quarter amounted to an increase of $1,222,000. This increase again reflects the consistent growth in the subscriber account base. Operating results for the fourth quarter were impacted by the same factors as the full year, which mainly consists of rapid growth plans of the Company, tight controls over cost of sales and prudent management of marketing expenditures.
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Testimonials
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"I am writing this as a relatively new customer to AlarmForce. Previously we had a "big name" company for our alarm service. When that company's equipment failed to meet our needs on a couple of different levels, including raising the monitoring prices yearly, we decided it was time for a change. I had heard the commercials on the radio for AlarmForce and decided to give them a try. The technician that came out to install was great! I was not home but my wife could say enough about the technician. Everything was installed to our satisfaction and works great! Hopefully we won't have to ever use the system in an "emergency" sense, but it's nice to know that it is there. Thanks for a great service at a great price!"
-John, Maplewood MN -
It is very assuring to know there will be a live voice on the intercom if something goes wrong. Thank you for your service.
-Darcy, ON -
Installation was excellent and very knowledgeable about questions and options.
-William, OH -
Thank you for your efficient service. Your live voice helped minimize damage and speedy police response - within 5 minutes! Congratulations
-A business, ON -
Even if I ever relocate I will remain with AlarmForce.
-Jurgen, ON -
No difficulties for the past four years, thank you. I enjoy the 2-way communication and also enjoy the calls prior to dispatching of emergency services. Avoids extra cost due to false alarms.
-Ken, ON -
Wonderful, informed, courteous staff - a credit to your company.
-Jago, ON -
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
