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Vision Security

Security companies grow fast, again in 2012

Intelligent Access Systems, Vision Security, EP Technology among security companies featured on 2013 Inc. 5000 list
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08/22/2013

NEW YORK—The 2013 Inc. 5,000 list has been released and, again this year many security companies made the list, which ranks businesses based on self-reported growth data.

ADT adds 100,000 customers in fiscal 2013 and its Devcon buy boosts its RMR, but attrition climbs to 13.9 percent

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Wednesday, November 20, 2013

Just about one year after The ADT Corp. split from Tyco International and became a stand-alone, publicly traded company, the company reported today that its RMR climbed 4.7 percent in Q4 and that the rise was helped by its acquisition of Devcon Security this summer.

Boca Raton, Fla.-based ADT, which officially became independent Sept. 28, 2012, reported its Q4 and fiscal year 2013 results today. It added 100,000 subscribers in 2013, bringing its total customer based to 6.5 million, the company said.

ADT also reported average revenue per user (ARPU) had climbed to $40.31, an increase of 3.7 percent, and said that helped increase RMR. The company also said its ADT Pulse overall take rate was at 32 percent in Q4, up from 13 percent last year due to new customers and price escalations to existing ones.

In the earnings call, ADT CEO Naren Gursahaney said, "We recently passed the 500,000 mark with Pulse customers. Just to put that into perspective for you, if Pulse was a stand-alone business, it would be the sixth largest security provider in North America. While this a major milestone for us, it still only represents about 8% of our total customer base, so we still have a tremendous opportunity to further grow our Pulse customer base."

Gursahaney also said that in Q4, "Net attrition increased by 10 basis points sequentially and 40 basis points year-over-year to 13.9 percent, with more than 100 percent of the increase attributable to higher relocation disconnects as a result of the continued recovering in the housing markets." The company is launching new programs to address attrition, which it plans to announce soon, he said.

The company’s revenue increased in Q4 by 4 percent to $846 million from $812 million, higher than the $843.8 million analysts expected. EBITDA was $431 million in Q4,  up 7.5 percent compared to the previous year.

Much of ADT’s total revenue is recurring revenue, the report said. RMR was $777 million in Q4. The company also said small business RMR growth for fiscal 2013 was 7 percent, up from 3 percent in 2012.

Just before its Nov. 20 earnings report, ADT announced this week it was defending its turf by suing Utah-based Vision Security for the second time over Vision’s alleged deceptive sales practices. The new lawsuit comes shortly after Vision and Security Networks, of which Vision is an affiliate, “settled with ADT for $2.2 million and agreed to a permanent injunction [from] engaging in similar practices,” according to an ADT news release.

Vision told me it denies ADT's allegations and intends to fight them.

The AP reported ADT’s shares closed at $42.81 yesterday, Nov. 19. Shares are down 8 percent for the year to date, the AP said.

Gursahaney predicted positive results for fiscal 2014, with revenues and RMR climbing 4 percent to 5 percent. "I'm confident the momentum we have built, coupled with the improvement programs we have implemented to address our challenges, will position us for continued revenue growth and operational improvements in 2014," he said.

ADT sues Vision—again—over alleged deceptive sales practices

Vision says it 'vigorously denies the allegations' and plans to fight them
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11/18/2013

BOCA RATON, Fla.—Just months after settling one lawsuit with Utah-based Vision Security over what The ADT Corp. characterized as Vision's deceptive sales pitches, ADT announced today that it has filed a second lawsuit accusing Vision of similar practices.

Vision wages legal battle over negative posting on Ripoff Report

The Utah summer-sales company files lawsuit saying it has been defamed, but the site says it’s not responsible for what users post on it
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10/30/2013

OREM, Utah—Vision Security, a summer-sales home security/home automation company here, is suing Ripoff Report, charging that the website is refusing to remove false and defamatory statements about Vision even after the author of the posting has since stated they aren’t true.

ADT settles its lawsuits against Vision Security and Security One over deceptive sales practices

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10/10/2013

BOCA RATON, Fla.—ADT announced today that it has settled its lawsuit against Florida-based Security Networks and its Utah-based affiliate Vision Security, requiring those companies to pay $2.2 million in damages.

Vision Security gets new $35m credit facility, new president

Loan from The PrivateBank creates new opportunities for door-knocking company; CFO Dan Noble gets promotion
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04/17/2013

LAS VEGAS—Vision Security’s new $35 million credit facility will strengthen the company’s unique “hybrid” business strategy of being both Security Networks’ leading dealer and retaining some accounts in house, according to Vision founder and CEO Rob Harris.

Vision Security closes $35 million credit facility

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04/09/2013

OREM, Utah—Vision Security, a provider of home automation and monitoring services, recently secured a $35 million syndicated loan transaction with The PrivateBank and Trust, according to a Vision statement.

Vision Security promotes Noble to president

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03/14/2013

OREM, Utah—Dan Noble has been promoted from CFO to president at Vision Security, according to a company statement.

Westward ho! For Security Networks, Vision Security

The two companies renew affiliate agreement and expand to western markets
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04/19/2011

WEST PALM BEACH, Fla.—When a private equity firm acquired super-regional Security Networks last fall, president and CEO Rich Perry said the transaction would allow Security Networks to expand east of the Mississippi.

Pinnacle helps establish new Utah alarm management group

Industry association to share best practices, grow industry, and help expand Utah's economy
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03/03/2011

OREM, Utah—Pinnacle Security this week announced it is helping establish a unique industry management association in this state—one comprised of summer-sales model companies like itself.