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AlarmForce Industries

Financial Information


Consolidated Statement of Retained Earnings For the years ended Oct 31, 2007 and Oct 31 2006


  2007 2006
  $ $
Retained earnings, beginning of year $3,173,978 $1,681,642
Net income for the year 1,280,172 1,492,336
     
Retained earnings, end of year $4,454,150 $3,173,978
See accompanying notes to consolidated financial statements.

Consolidated Statements of Income For the years ended Oct 31, 2007 and Oct 31, 2006


  2007 2006
  $ $
Sales $25,136,125 20,964,877
Cost of Sales 5,130,323 4,506,042
Gross Profit 20,005,802 16,458,835
     
Expenses    
Selling 10,949,615 7,611,097
General and administrative 4,308,286 3,630,579
  15,257,901 11,241,676
Income from operations before other expenses 4,747,901 5,217,159
     
Other expenses:    
Amortization:    
Property, plant and equipment 1,922,644 1,821,279
Deferred charges 9,591 9,591
Intangible assets 822,767 754,173
Interest (Note 8) 102,258 82,072
Foreign exchange (214,450) 40,347
  2,642,810 2,707,462
     
Income before income taxes 2,105,091 2,509,697
Income taxes (Note 9) 824,919 1,017,361
Net income for the year $1,280,172 $1,492,336
     
Basic earnings per share, ( Note 12) $0.11 $0.12
Fully diluted earnings per share, ( Note 12) $0.11 $0.12
See accompanying notes to consolidated financial statements.


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