Vicon Industries, a designer and producer of physical security information management systems, announced that first fiscal quarter sales are expected to be off significantly from year-ago levels.
Vicon Industries, a designer and producer of physical security information management systems, announced that first fiscal quarter sales are expected to be off significantly from year-ago levels.
Vicon Chairman and CEO Ken Darby said sales for the Dec. 31, 2009 first fiscal 2010 quarter are expected to be down 25 to 30 percent, due to continuing weak market conditions. The company also anticipates the lower sales to result in a net loss in the range of US$600,000 to $800,000, or $0.13 to $0.17 per share, for the first quarter.
“Capital expenditures for construction and other projects incorporating electronic security systems remain sluggish worldwide,” Darby said. “Throughout fiscal year 2009, incoming order levels declined each quarter reaching a low of $13.1 million in the September 2009 quarter. New orders for the Dec. 31, 2009 quarter are anticipated to be similar at approximately $13 million. The nature of our project oriented business is such that we trail a decline in economic activity and most likely will trail the recovery.”
The company expects to announce its first quarter results on Feb. 5, 2010.