90% of the revenues are recurring in nature; Operating within a moderate growth industry; and Internal sales force. Second tier position in a highly competitive and fragmented market; Highly leveraged profile; Weakening housing/rental markets; and Overall high attrition rate. Standard&Poor's Rating Services expects flat to slightly decreased revenue performance and flat to moderately improved margins over the next few quarters, reflecting lower but more profitable wholesale revenues and additional savings from facility consolidation. We expect the net outcome of these factors to result in only moderate EBITDA driven leverage reduction over the next four quarters for Protection One Alarm Monitoring Inc. (PONE). PONE provides electronic security alarm monitoring services to residential, commercial, and wholesale markets. About 90% of
