Avigilon announced its financial results for the fiscal year and three months ended December 31, 2011. All figures are stated in Canadian dollars unless otherwise noted.
Third Quarter 2011 Highlights: ?Revenue was $18.8 million in Q4 2011, an increase of 86 percent over Q4 2010 revenue of $10.2 million. ?Gross margin was 51 percent, compared to 46 percent in Q4 2010. ?EBITDA was $2.3 million, an...
Avigilon announced its financial results for the fiscal year and three months ended December 31, 2011. All figures are stated in Canadian dollars unless otherwise noted.
Third Quarter 2011 Highlights:
?Revenue was $18.8 million in Q4 2011, an increase of 86 percent over Q4 2010 revenue of $10.2 million.
?Gross margin was 51 percent, compared to 46 percent in Q4 2010.
?EBITDA was $2.3 million, an increase of $1.9 million from $0.4 million in Q4 2010. (See “Non-IFRS Measures” below.)
?Net income was $1.6 million, compared to a net loss of $0.2 million in Q4 2010.
Fiscal Year 2011 Highlights:
?Revenue was $60.0 million in fiscal 2011, an increase of 86 percent from $32.3 million in 2010.
?Gross margin was 46 percent, compared to 45 percent the prior year.
?EBITDA was $6.6 million, up 132 percent from $2.8 million in 2010.
?Net income was $3.8 million, compared to $1.0 million in 2010.
?In November 2011, Avigilon completed a $26 million financing transaction, raising gross proceeds of $21 million in an Initial Public Offering (IPO) and proceeds of $5 million in a Secondary Offering, and listed its shares on the Toronto Stock Exchange.
“Our strong growth is a testament to Avigilon's innovative and industry-leading technology in the growing global HD video surveillance market,” said Alexander Fernandes, President and CEO, Avigilon. "In keeping with the strategy we outlined during our IPO last fall, we are actively investing in sales, marketing and R&D in 2012 to accelerate our growth."