IndigoVision Posts ‘Record' Growth of 43 Percent for Fiscal Year 2008

Financial Highlights
  • Revenues up 43 percent to a record US$42.1 million
  • Operating profit up 59 percent to a record $5.2 million
  • Adjusted basic earnings per share up 59 percent to $0.54
  • Net cash more than doubled to $5.6 million at 31 July 2009
  • Maiden dividend of $0.08 per share

Oliver Vellacott, Chief Executive, said, “These are great results achieved in a difficult economic climate. I am especially pleased to be announcing our first ever dividend to shareholders.”

In its financial report, IndigoVision increased its product range for high-definition network cameras and boosted its NVR performance. Its video products comply with ONVIF and PSIA network video standards, integrating with ALPR and access control systems.

“The financial results achieved are a direct result of the strength of our product range and its powerful supporting technology, the talented group of people which we have worldwide, and the strong market position which we have built based on the needs of customers,” Vellacott said. “The long term market potential for IndigoVision's offering continues to be attractive, the sales force is well developed, distribution and service centers are working well and finances are sound. Although the security market is moving from older analogue systems to IP, 90 percent of this transition has still to take place, giving IndigoVision a clear opportunity.”

IndigoVision solutions have been installed in 20 vertical markets worldwide, according to its financial report. They include 11 casinos, US-Canadian border crossings and pipelines. Other installations include airports in the U.S., India and China.

The British company will invest in more R&D. “In the current year we will be stepping up spend on research and product development to prepare IndigoVision for the next phase of growth,” Vellacott said. “We expect the short term economic background to continue to be difficult, but believe that IndigoVision can meet this challenge.”
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