AlarmForce Industries boosts Q1 profits 75%; revenue improves 9% to almost $13M

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TORONTO – Home and commercial property security company AlarmForce Industries Inc. (TSX:AF) is reporting a big increase in first-quarter profits as revenue improved nine per cent.

The Toronto-based concern said net income totalled $2.4 million or 20 cents per diluted share in the three months ended Jan. 31, up 75 per cent from $1.38 million or 11 cents in the same fiscal 2013 period.

Revenue totalled just under $13 million, up from $11.9 million as its total number of subscribers increased to 142,400 from 135,600.

AlarmForce provides security alarm monitoring, personal emergency response monitoring, video surveillance and related services to residential and commercial subscribers throughout Canada and the United States.

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