SAI REPORTS ITS Q1 FINANCIAL RESULTS; CITES $2.2 MILLION LOSS
ARLINGTON HEIGHTS, Ill.
Security Associates Int’l Inc. (SAI) announces its financial results for the quarter ended March 31. Revenue for the quarter was $5.4 million; net loss for the quarter was $2.2 million, or 29 cents per share.
“During the first quarter, we continued our central station consolidation efforts designed to increase operating margins by increasing the average number of accounts monitored by our central stations,” says James Brannen, president of SAI. “In addition, we reduced our attrition rate to less than one-half of 1 percent, down from 2000’s almost 7-percent attrition rate. Improving these areas of our business, combined with offering more products and services to our dealer network, will enable SAI to significantly increase its operating flow.”
SAI provides security alarm monitoring services to residences and businesses, including more than 375,000 subscribers.
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