Newspaper article The Canadian Press

AlarmForce Completes Financial Statements, Posts $500K Loss for 2016 Fiscal Year

Newspaper article The Canadian Press

AlarmForce Completes Financial Statements, Posts $500K Loss for 2016 Fiscal Year

Article excerpt

AlarmForce completes financial restatements

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TORONTO - AlarmForce Industries issued its 2016 financial report and restated results for previous periods on Tuesday following a review of its prior handling of service cancellations for some of its customers.

The Toronto-based company (TSX:AF), which provides home alarm services in various North American markets, says it had $56.4 million in revenue and a $500,000 or four cents per share net loss in fiscal 2016.

That compares with a restated $55.2 million in revenue and $4.42 million or 38 cents per share of net income in fiscal 2015.

AlarmForce originally reported $56.1 million in revenue and $4.98 million or 43 cents per share of net income for fiscal 2015.

The company also restated its results for the first and second quarters of its 2016 financial year. …

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