IndigoVision released its half-year financial results, with a revenue of US$24.2 million (￡16.1 million) for the six-month period ending January 31. During the same period, revenue growth accelerated from 6 percent in the first quarter to 15 percent in the second, and significant investment was made in sales staff, senior management and new technology development to continue this momentum.
IndigoVision released its half-year financial results, with a revenue of US$24.2 million (￡16.1 million) for the six-month period ending January 31. During the same period, revenue growth accelerated from 6 percent in the first quarter to 15 percent in the second, and significant investment was made in sales staff, senior management and new technology development to continue this momentum.
IndigoVision also announced a 10-percent higher interim dividend of $0.08 per share, and continues to be cash-generative without debt. “We set ourselves the task of returning the business to better rates of growth, and accelerating sales indicate that we are on target to achieve that,” stated Marcus Kneen, CEO. “We currently expect record sales for the year as a whole. Notwithstanding lower margins and the additional spend on sales and new product development, we also currently expect the operating outcome for the year as a whole to better last year's strong result.”
New product releases are contributing to the revenue growth and giving IndigoVision a foothold in new markets, including a camera range designed for the mid-end market. The company also released new cameras targeting the high-end security market, where it traditionally has a strong presence. IndigoVision continued to make significant investments in staff, including a number of new additions to its sales team as well as new appointments in senior management. Strong investments were also made in R&D, with a record number of new hardware and software products scheduled for release by the end of the current financial year.