AlarmForce announces record first quarter earnings
TORONTO - AlarmForce, a manufacturer and installer of home alarm systems, has announced that the companyÃ¢â‚¬â„¢s revenues for the quarter ending Jan. 31, 2004 increased $3.5 million.
The amount, up 20 percent from the same quarter in 2003, was due to an increase in the companyÃ¢â‚¬â„¢s monitored account base, which grew to more than 43,500 subscribers across Canada. Joel Matlin, president and chief executive officer of AlarmForce, noted that operating activities generated sufficient cashflow to finance equipment and marketing costs of new system installations and also reduced bank debt by $572,000.
The companyÃ¢â‚¬â„¢s net income also increased by 37 percent.
Tyco to stay incorporated in Bermuda
PEMBROKE, Bermuda - At Tyco InternationalÃ¢â‚¬â„¢s annual general meeting of shareholders last week, shareholders rejected a proposal to move TycoÃ¢â‚¬â„¢s incorporation to the United States. Approximately 93 percent of shareholders voted against the proposition.
Earlier this year, a government employee labor union filed a resolution for the conglomerate to reincorporate in the United States. TycoÃ¢â‚¬â„¢s board of directors urged shareholders to vote against the initiative.
Many large corporations, such as Tyco, have relocated offshore, where tax liability is divided among the locations where business is conducted.
Voxcom announces special meeting of shareholders
EDMONTON,Alberta - Voxcom Inc., a full-service provider of security systems, has called a special meeting of shareholders to consider an amendment that would allow the company to redeem all of its issued and outstanding common shares at a price of $1.03 per share. The meeting was scheduled to take place on May 7, 2004, after press time.
VoxcomÃ¢â‚¬â„¢s board of directorÃ¢â‚¬â„¢s has already approved the resolution.