For the third quarter ended July 31, 2015, AlarmForce Industries reported revenues of $14.1 million. Net income fell by 126% in the third quarter year-over-year, driven by one-time non-recurring items totaling $2.5 million. Diluted earnings per share fell to a loss of $0.03 per share in the third quarter of 2015 from $0.13 during the same quarter of 2014.
Total revenues for the first nine months of 2015 increased to $41.7 million vs. $39.3 million over the same period in 2014, or growth of 6% (3% in constant currency). Recurring monthly revenue (RMR) increased to $4.5 million at the end of Q3 2015 from $4.1 million at the end of Q3 2014, or 9% (6% in constant currency). Net income declined by 38% year to date from the same period of 2014. Year-to- date diluted earnings per share declined from $0.49 (2014) to $0.31 (2015) for the same nine-month period year-over-year. Cash flow from operations in the first nine months decreased from $8.5 million to $7.5 million, or 12% due to one-time items in the quarter, including costs related to the change in management, of $1.3 million.
“During the third quarter we saw an accelerated pace of growth in our gross subscriber base in both our Alarm and PERS business lines,” said Graham Badun, President and CEO of AlarmForce Industries Inc. “We’ve strengthened our senior management team with some great additions that position us well for future growth in the residential and commercial security industry.”