The Company is a distributor of video surveillance and access control equipment serving a customer base of security system integrators, alarm companies, access control and home automation installers, distributors and computer/electronics stores.The Company’s 900 accounts are distributed across North America and there is no customer concentration.
The year ended February 28, 2019 is forecasted to be the best sales year since inception, growing 10%, roughly $1.2 million,over the past year. This is supported by five months’ year-to-date sales of $5.4 million. Management expects 10-15% of year-over-year growth in FY 2019. The Company has enjoyed an increase in EBITDA during each year of the historical period. From 2015 to 2018 EBITDA grew at a CAGR of 47% (over 10% higher than top-line revenue).