Canadian Home Alarm Firm AlarmForce Says Profits Rose 37 Percent

AlarmForce, a manufacturer and installer of home alarm systems, has reported a nearly 40 percent increase in year-to-date profit, compared with a year ago, helped by higher revenue.

The Toronto-based company said Monday it earned $1.25 million or 12 cents per share for the nine months ended July 31. That compared with a profit of $910,000 or 10 cents per share for the same period a year earlier.

Revenue for the first nine months of the company's financial year was $11 million, up from $9.2 million a year ago. In a release, the firm did not provide a third-quarter breakdown.

``The company is right on track to beat the previous annual record this year,'' CEO Joel Matlin said.

AlarmForce said earlier this year it plans to expand in the United States later this year. The company plans to set up its U.S. head office in Charlotte, N.C., and use that base to expand into 15 to 25 U.S. communities over the next 36 months.

AlarmForce (TSX:AF) calls itself Canada's largest manufacturer and installer of two-way voice home alarms systems. Shares in the company were down three cents to $3.25 in trading on the Toronto stock market.