TORONTO, ONTARIO--(Marketwired - Dec. 11, 2013) - AlarmForce Industries Inc. (TSX:AF) today reported that it added 25,800 new subscribers for the fiscal year ended October 31, 2013. This brings the total number of ending subscribers to over 141,000 reflecting an annualized net subscriber growth rate of 5%. Canadian subscribers grew by 2% to 107,600 subscribers and in the US, by 18% to 33,600 subscribers. The adoption rate for VideoRelay service was 18% and the Company currently has 6,600 subscribers using VideoRelay services, of which 3,800 are in Canada and 2,800 in the US.
Recurring monthly revenue, which accounts for over 90% of total revenue, was up by 11% to $ 3.8 million in the fiscal year ended October 31, 2013. Recurring revenue growth was driven by an increase in net subscriber additions and an increase in ending average revenue per subscriber derived from VideoRelay and Cellwave services.
AlarmForce's Interim Chief Executive Officer, Anthony Pizzonia, noted that "AlarmForce is an industry leader in providing affordable home security with a widely recognized brand and a strong value proposition. As the market continues to adopt home automation technologies, we will continue to grow leveraging our competitive strengths to further accelerate growth."
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. More information about the Company's products and services can be found at www.alarmforce.com.