MICROTEC REPORTS RISES IN REVENUES AND SUBSCRIBERS

SAINT AUGUSTIN, Quebec, Canada

Microtec Enterprises Inc. announces that its revenues for the third quarter ended Sept. 30 were $6 million, an increase of 6 percent compared to the same period in 1999. Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $3.4 million, compared to $3.2 million in the third quarter last year.

“As anticipated in our strategic plan, the number of new subscribers recruited by our authorized dealers continued to grow during the third quarter. This bodes well for our year-end results and our performance in 2001,” says Michel Gosselin, executive vice president and CFO. Raymond Gilbert, company president and CEO, adds, “Our efforts are now focused on our core business, that is conventional home security and automation services.”

Other highlights of Microtec’s third quarter included: a 40-percent increase in new subscribers vs. 1999; recurring monthly revenue per subscriber of $17.78, compared to $17.38 a year ago; and a $400,000 profit generated by the sale of Argus emergency medical activities. Microtec is a prominent Canadian provider of residential security services.

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