IASG Says It Has Doubled Revenue, Halved Net Loss
Integrated Alarm Services Group (IASG), the parent company of alarm monitoring company Criticom Int’l, has announced its final earnings numbers for 2004. IASG says its revenues more than doubled while its net loss was halved in 2004. IASG had delayed releasing the earnings because of what it said were accounting difficulties that needed to be resolved. That has resulted in IASG’s temporary delisting from the NASDAQ stock exchange.
The security firm says it had a net loss of $11.7 million in 2004 compared to a $22 million loss in 2003. Meanwhile, revenues were up to $80.4 million in 2004 compared to $40.9 million the year before.
IASG made several acquisition moves last year, including the purchase of National Alarm Computer Center (NACC) from Tyco in November.
“The addition of the NACC central station operating assets from Tyco permits IASG to embark on a top to bottom review of operations, and where appropriate, restructure our business,” says IASG Chairman and CEO Timothy McGinn. “This will enable us to more efficiently and effectively serve our alarm customers.”
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