Just two days before the announcement that Ascent Media Corporation acquired Monitronics International Inc., Frost & Sullivan recognized Monitronics with the 2010 North American Frost & Sullivan Award for Company of the Year. Based on its recent analysis of the alarm monitoring residential security market, Frost & Sullivan cited Monitronics’ consistent growth based on its industry-leading qualities in the face of a global financial crisis and downturn in the security industry as the crowning achievement for this recognition.
“Monitronics has been able to overcome critical factors such as cost, scalability, coverage, and jamming issues,” said Frost & Sullivan senior research analyst Neelima Sagar. “The company’s key differentiators are flexibility, reliability, enhanced customer service and responsiveness.”
The company’s revenues grew from $207.7 million in 2008 to $234.4 million in 2009, a growth rate of 12.5 percent. The company expects to report continued strong sales growth and to increase its international reach and strengthen its position as the leader in the security market. The company’s most recent endeavor is the False Alarm Control Team (FACT), which targets false alarm reduction. Since its inception, the team has decreased false alarms by 16.8 percent.
“In the North American alarm monitoring market, fast response time, excellent customer service, and stringent quality are the primary factors that decide a company’s success,” says Mitch Clarke, vice president of marketing at Monitronics. “Monitronics has gained a keen understanding of customers’ needs and has found an effective and efficient method to support more customers and grow the business.”
Each year, Frost & Sullivan presents this award to the company that has demonstrated great growth strategies and implementation. The award lauds the recipient’s innovation in business processes, products and/or technologies to garner leadership in customer value and market penetration.