AlarmForce reports Q2 results
Toronto-based AlarmForce Industries reported its Q2 2016 results this week.
According to the company, Q2 revenue was $14.5 million up from $14 million during the same period last year.
Recurring Monthly Revenue (RMR) of $4.5 million at the end of Q2 2016 was flat to both Q2 and Q4 of 2015. Gross profit totaled $9.9 million compared to $10.3 million or -4% over the same period in 2015. Net income grew 6% in the second quarter from the same period of 2015 to $1.8 million. The company says, these changes were driven by the decrease in selling and marketing expenses, partially offset by an increase in amortization and general and administrative expenses. Diluted earnings per share increased to $0.16 compared to $0.15 in the same period of 2015.
Year to date revenues totaled $29 million (up 5%), gross profit totaled $20.1 million (down 3%), EBITDA grew to $8.6 million (up 1%), net income totaled $4.2 million (up 5%) and diluted earnings per share grew to $0.36, up from $0.34 for the same period in 2015.
“During the second quarter we reduced marketing expenditures across our U.S. footprint and in advance of our launch of third-party product planned for late summer,” said Graham Badun, President and CEO of AlarmForce Industries Inc., in a statement. “We are executing on our more focused strategy including enhancing our information technology infrastructure in preparation for our launch of new third-party products and our refreshed brand which will position the company well to take advantage of the opportunities in the home security and personal emergency response markets. The company continues to achieve increased take-rates amongst enhanced services and we are excited by the prospects for the company and the ability to enhance our value proposition to both new and existing customers.”
In the first six months of the year the Company returned $1.0 million to shareholders through dividends paid.