AlarmForce Reports Third Quarter 2014 Results| Reuters



Thu Sep 11, 2014 4:36pm EDT

* Reuters isn't responsible for that content in this press release.

TORONTO, ONTARIO--(Marketwired - Sep 11, 2014) - AlarmForce Industries Inc. (TSX:AF), Canada's largest maker along with installer of live two-way voice residence alarm systems, can be pleased to announce results for the nine several weeks ended July 31, 2014

Three a number of months ended

Nine weeks ended

July 31, 2014

July 31, 2013

Change

July 31, 2014

July 31, 2013

Change

($ throughout thousands, except for each share along with subscriber amounts)

Total revenue

$

13,153

$

12,453

6

%

$

39,291

$

36,479

8

%

Net income

$

1,552

$

148

948

%

$

5,730

$

2,842

102

%

Shares outstanding, diluted



11,900

12,276

-3

%

https://www.youtube.com/watch?v=Vzfcam2MEMs

11,802

12,276

-3.9

%

Diluted net income per share

$

0.13

$

0.01

1205

%

$

0.49

$

0.23

111

%

Cash flows coming from operations

$

2,821

$

3,495

-19

%

$

8,446

$

7,154

18

%

EBITDA*

$

3,310

$

1,430

132

%

$

11,699

$

7,582

54

%

Adjusted EBITDA* (before advertising expenses)

$

6,331

$

4,599

38

%

$

20,766

$

17,352

20

%

Adjusted EBITDA* per diluted share

$

0.53

$

0.37

42

%

$

1.76

$

1.41

24

%

Recurring month-to-month revenue (RMR)

$

4,145

$

3,865

7

%

$

4,145

$

3,865

7

%

Total subscribers

144,400

139,400

4

%

144,400

139,400

4

%

*EBITDA is truly a non-IFRS financial measure and can be also defined in the disclosure section accompanying this press release.

AlarmForce reported net earnings elevated for you to $5.7 million over the particular nine a handful of months ended July 31, 2014, a rise associated with 102% more than the comparative period associated with time associated with 2013. Diluted income per talk http://www.homesforsale.net/ about increased in order to $0.49 reflecting a new 111% increase from the comparable time period involving 2013.

Total income increased to become able to $39.3 million year to date, a growth involving 8% more than the particular comparative period of 2013. Recurring income which composed 92% associated with total income grew by simply 7% in order to $4.2 million. This specific had been primarily driven simply by annualized subscriber growth involving 4% for you to 144,400 subscribers as well as an boost in ending typical revenue per subscriber (ARPU) to become able to $28.71 through $27.73 in the comparative period.

Stronger operational performance and value efficiencies drove EBITDA for you to improve to be able to $11.7 million within the first nine weeks regarding 2014, up 54% more than 2013. while marketing expenses decreased simply by $0.7 million in contrast with the comparative period associated with time in 2013, your Organization expects for you to maintain exactly the same marketing devote such as 2013. Excluding the actual impact of those marketing and also advertising expenses, adjusted EBITDA for the nine month period increased simply by 20% via $17.3 million to $20.8 million.

Cash flows from operations increased for you to $8.4 million via $7.2 million, an increase of $1.2 million or even 18%. The Business plans to continue funding almost all growth and item development from your Company's internal money flows inside 2014.

On may 20, 2014, the quarterly dividend involving $0.03 had been paid additionally to end up being able to a particular one-time dividend regarding $0.60 per widespread share. An Additional quarterly dividend regarding $0.03 for each discuss was declared about July 8, 2014, that was subsequently compensated about August 20, 2014. over your nine month period, your Organization repurchased a total regarding 314,600 shares regarding $3.3 million, in an average talk about price of $9.93.

Mr. Anthony Pizzonia, interim President and CEO, said that "While general ARPU with the entire subscriber base increased in order to $28.71, a relatively higher ARPU is actually associated along with new subscriber additions. ARPU for new subscribers extra within the nine a handful of months of 2014 increased to $30.83. This will be the direct results of the take rates upon our add-on services like VideoRelay and Cellwave."

He continued with the actual aid of that, "Subsequent for the third quarter, the actual Business launched AlarmForce Connect, its most recent innovation regarding system interactive services. AlarmForce Connect permits the actual subscriber to monitor as well as control their house security system within realtime utilizing a mobile device. The Particular enhanced capabilities regarding this feature contain remote arming as well as disarming, receiving e-mail notifications, and viewing system history or even system status. When combined using our standard system, it offers convenience and also control in order to remain remotely attached to any house or business. We expect in which AlarmForce Connect, such as VideoRelay along with CellWave, will drive growth in subscribers along with ARPU."

"Our efforts in the quarter reflect your progress we have been creating to place the Business regarding http://homes.timesfreepress.com/ long term growth as we possess been committed in order to purchasing innovative residence automation and also interactive services which will drive growth. We may also still concentrate our attention on offering the subscriber by getting an integrated client experience that will boost living with the subscriber minimizing customer attrition."

About AlarmForce

AlarmForce provides security alarm monitoring, individual emergency reaction monitoring, video surveillance and also associated solutions to residential along with commercial subscribers throughout Canada and in addition the United States. more info in regards for you to the Company's services and products are available from www.alarmforce.com.

Disclosure

EBITDA is defined as earnings prior to interest expenses, income taxes, depreciation along with amortization. EBITDA is really a crucial measure used in the safety business to assist in knowing and looking at operating results and it is frequently referred for you to simply by our competitors. Management views EBITDA as a measure to assess the actual operating performance of the Company. Yet, since it will not have any kind of standardized meaning defined by simply IFRS, it might certainly not be considered in isolation regarding IFRS measures for example net income/loss or cash flows, as being a measure associated with liquidity. The Particular Company, however, utilizes these measures in making operating decisions along with assessing its performance. Management believes in which it allows your Business to assess its ongoing business with out the particular impact associated with depreciation or even amortization expenses. Since EBITDA is actually not truly a defined term under IFRS, it is certainly not likely to be comparable to end up being able to comparable measures presented by simply various other issuers.

http://www.reuters.com/article/2014/09/11/idUSnMKWPlrKga+1e4+MKW20140911



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