Investor Relations
AlarmForce Industries Inc. 2009 Annual Report
ALARMFORCE INDUSTRIES INC. is a manufacturer and supplier of monitored alarm and personal emergency response systems, providing service across Canada and in selected areas in the United States. Since its inception in 1988, the Company’s primary focus has been to sell and monitor affordable, state of the art security to the residential market. AlarmForce is listed on the Toronto Stock Exchange under the symbol AF.
Contents
- Financial Highlights
- President's Message
- AlarmForce in 2010
- Management's Report
- Auditor's Report
- Consolidated Balance Sheets
- Statements of Income
- Statements of Retained Earnings
- Statements of Cash Flows
- Notes To Financial Statements
- Management Discussion & Analysis
- Corporate Information
Subscribers Increased By 12%
Revenue Increased By 14%
Net Income Increased By 45%
Financial Highlights
| 2009 | 2008 | 2007 | |
| Subscriber base | |||
| 102,400 | 91,000 | 79,200 | |
| $ | $ | $ | |
| Operations: | |||
| Total revenue | 34,133,361 | 29,942,385 | 25,136,125 |
| Gross margins | 26,101,301 | 23,346,082 | 20,005,802 |
| EBITDA** | 9,057,490 | 7,218,372 | 4,962,351 |
| Income before income taxes | 5,673,140 | 3,885,740 | 2,105,091 |
| Net income | 3,780,061 | 2,610,585 | 1,280,172 |
| Cash flow from operations | 6,467,452 | 6,812,715 | 2,737,038 |
| Earnings per share | 0.31 | 0.22 | 0.11 |
| Diluted earnings per share | 0.31 | 0.22 | 0.11 |
| Diluted EBITDA per share | 0.74 | 0.61 | 0.39 |
| Financial position: | |||
| Total assets | 33,072,558 | 29,311,049 | 25,251,571 |
| Total long-term debt*** | 1,179,168 | 1,454,167 | 1,759,369 |
| Shareholders’ equity | 23,743,081 | 19,582,560 | 16,839,675 |
| Debt/equity ratio** | 0.05 | 0.07 | 0.10 |
| Debt*** per subscriber account | 12 | 16 | 22 |
** Earnings Before Interest Tax Depreciation and Amortization is a key performance indicator 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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AlarmForce is a very good basic home system at a low price. The price is lower than the previous provider I was using. I do not get the same coverage in the house. The house remains wired for that coverage, but AlarmForce is not capable to use the existing wiring. I am happy with the service I am getting. The installation went very well and the tech was very helpful in allowing us to decide on where to mount motion detectors and which doors to alarm. I will continue to use AlarmForce. It was my brother that recommended AlarmForce to me.
-Scott E. - Okotoks, AB -
Unfortunately at this point my girlfriend and I can only afford the bare minimum and so we live in one of the worst parts of the city in Calgary. Our neighborhood is full of drug deals, prostitution, stealing and constant fighting. We have a dog but even still we are so grateful to have Alarm Force. AlarmForce makes us feel safe and we know that if we are out of town our house will be protected. The system is easy to use and makes us feel better when we are not at home. Thanks AlarmForce!
-Stephen V - Calgary, AB -
We have used your services for over 4 years now and we have always received excellent responses as well as superb service. We are extremely pleased with your service.
-Brian, BC -
Thankfully the system is very user friendly. As for any time we' ve spoken to the Central Station, they have been very professional. Love it! And when the alarm kept going off they were very quick to respond and extremely helpful.
-Diane, AB -
I am a realtor in Columbus, Ohio and have had several listing where the residence was vacant throughout the time it was listed for sale. One of the residences suffered extensive vandalism which included having all of the copper plumbing ripped put of the home. After repairs and renovations were completed, new appliances were purchased and delivered. Several friends warned me of the high probability that the appliances could be stolen. I contacted AlarmForce and learned that their system was not only portable but did not require a landline telephone to operate. I ordered the system and have had no attempts by vandals to break into the home. When the property is sold, I will move the system to the next vacant home that I list for sale. I may actually purchase another system. I recommend all realtors to consider using your system. Thanks, AlarmForce.
-J.S - Columbus, OH -
We have always been impressed with every contact we have had with AlarmForce representatives. Thank you to all.
-Clark, GA -
Wonderful, informed, courteous staff - a credit to your company.
-Jago, ON -
"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
