AlarmForce reveals record 2004 third-quarter results
TORONTO, Ontario- AlarmForce, a manufacturer and installer of two-way voice home alarm systems, has announced record level results for revenue, cash flow and earnings per share for the third quarter ending July 31.
Revenue for the period rose 20 percent over the same period last year. Cash flow was also up- rising 42 percent over the same period in 2003.
Earlier this year, the company announced its intentions to move into U.S. territory. Its first office in Charlotte, N.C., was expected to open in October.
Joel Matlin, AlarmForceÃ¢â‚¬â„¢s president and chief executive officer, said the company is on track to exceed the previous yearsÃ¢â‚¬â„¢ annual results.
SignatureÃ‚Â MediaÃ‚Â Group finalizes acquisitions
WOBURN, Mass.- Signature Media Group, a residential systems integration company here, has completed the acquisitions of Residential Systems Inc. and Advanced Audio Design.
Based in Wheat Ridge, Colo., Residential Systems was founded in 1987 to provide integrated electronics systems in custom homes. Sarasota, Fla.-based Advanced Audio Designs was established in 1988 and reported revenues of $10 million in 2003. Both companies will continue to operate under their designated names.
Microtec secures extension of credit
ST-AUGUSTIN, Quebec- Microtec Enterprises has secured another extension of its credit facilities until Dec. 31, 2004.
The extension with its lenders was approved due to the companyÃ¢â‚¬â„¢s current negotiations over an undisclosed proposal regarding its reorganization. The proposal was announced to the board of directors in August. It marks the fifth credit continuation for the company this year.
Microtec officials reported that the company may ask for a longer forbearance period as it finalizes its reorganization plan.