Financial Information
AlarmForce Announces Record-Breaking Third Quarter Results
AlarmForce, Canada's largest manufacturer and installer of live two-way voice home alarms systems, is pleased to announce results for the nine months ended July 31, 2004, achieving record levels for revenue, cash flows and earnings per share: .
| July 31, 2004 (9 months ended) | July 31, 2003 (9 months ended) | Change (Over same period) | |
| Revenue | $11,023,000 |
$9,185,000 |
+ 20% |
Cash flow from Operations |
$5,655,000 | $3,995,000 | + 42% |
Income before taxes |
$2,261,000 |
$1,549,000 |
+ 46% |
Net income |
$1,249,000 | $910,000 |
+ 37% |
Diluted net income |
$0.115 |
$0.095 | + 21% |
Cash flow/share* |
$0.548 |
$0.444 |
+ 23% |
(* on a diluted basis)
Joel Matlin, President and CEO, said that, "The company is right on track to beat the previous annual record this year. Currently our base of monitored subscriber accounts measures approximately 46,000 accounts in Canada. As previously announced, our entrance into the US market is planned for October, and we are highly optimistic about our growth performance in 2005 and beyond."
Mr. Matlin added: "With a foothold in the US, we intend to replicate the solid success of our two-way voice system, and deliver the AlarmForce consumer brand value across the US mass market. Starting with a base in North Carolina and rolling out to as many as twenty-five cities in the next few years, AlarmForce will offer its advanced technology including the AlarmPlus line-cut feature, at the same superior value that consumers have grown accustomed to and trust Canada."
"We have chosen our first base outside of Canada to exploit the untapped potential of AlarmForce's unique business model in the US market, from years of extensive study and market analysis pursuant to our long-range strategic plan. The timing of our initiative could not be more propitiously designed to maximize the profit potential and leveraging of our back-office facilities with accompanying economies of scale. We are uniquely positioned to leverage our back-office and administrative infrastructure at minimum incremental costs. This will allow us to expand with a minimum fixed overhead structure, ensuring that our initial financial investment is confined to the most cost-effective marketing channels and a faster pay-back on our investment."
"Our strategy, which continues to differentiate our consumer value, service and technology from other alarm companies, will be to create new accounts at aggressive rates of growth without duplicating our current structure."
AlarmForce is Canada's largest manufacturer and installer of two-way voice home alarms systemswith ,headquarters and central station based in Toronto and 30 offices across Canada.
For further information, contact:
Investors Relations Dept.
Tel: 416-445-2001 ext#225
Fax: 416-445-9381
E-mail: investor@AlarmForce.com
