AlarmForce rings in higher Q2 profit; reports 6% increase in subscribers

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TORONTO – AlarmForce Industries Inc. (TSX:AF) enjoyed a big increase second-quarter revenue and earnings as the home and commercial security company reported Thursday a six per cent year-over-year increase in subscribership.

AlarmForce said after markets closed that net income in the period ended April 30 was $1.8 million or 15 cents per diluted share, up from $1.3 million or 11 cents in the same prior-year period.

Revenue rose to $13.2 million from $12.1 million as its total number of subscribers rose to 143,800 from 135,600 at the end of April 2013.

“Our vertical integration and competitive cost structure enable us to compete favourably on both price and service, resulting in a better customer experience and higher retention of accounts created through organic growth,” interim president and CEO Anthony Pizzonia said in a statement.

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.

On the Toronto Stock Exchange, AlarmForce shares closed up 25 cents, or 2.29 per cent, at $11.15 on Thursday.

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