IndigoVision, a supplier of IP video security solutions, announced its half-year financial results. The company reported an increase in sales revenues of 12 percent to US$18 million for the six-month period ending Jan. 31, with operating profits of $1.8 million.
Oliver Vellacott, IndigoVision's CEO, said "These results are encouraging in a challenging economic climate, with sales comfortably ahead of last year and the second quarter stronger than the first. Whilst business and economic risks remain in the short term, we continue to have a high level of confidence in the long term future of IndigoVision."
IndigoVision has continued to focus on R&D with a 30-percent increase in engineering spend in the current financial year. This has resulted in the development of a number of new products, including the addition of a high-performance PTZ dome; HD network camera range; and a family of stand-alone green NVRs, which deliver much lower costs per terabyte of storage than centralized recording servers.
The company recently unveiled a technology preview of Control Center, its security management software, displaying live video from ONVIF-compliant network cameras. IndigoVision are active members on a number of the ONVIF working groups and are totally committed to providing a complete standards-compliant end-to-end IP security solution.
IndigoVision systems are employed across 20 different market sectors, with strong presence in casinos, rail, government, retail and city-wide surveillance. The transport sector has been particularly strong for the company with major wins in both rail and airports. These include the 775-camera system for the Santiago Metro in Chile, a surveillance upgrade to Eurotunnel's French passenger terminal and the 2,800-camera solution at Delhi Airport's new Terminal 3. March 16 will see the official opening of the new 250,000 square-meter passenger terminal at Shanghai's Hongqiao International Airport, ahead of the World Expo in May. The terminal is being protected by a 1,880-camera system that is fully integrated with other security and airport systems.
IndigoVision's route to market is through its local partners, systems integrators and installers, who receive comprehensive training from IndigoVision and who provide local system design, installation and support. IndigoVision continues to widen its channel to market with more than 373 partners now authorized in 76 countries. The company completely develops its technology in-house, including a rich suite of hardware products and Control Center, its flagship security management software.