LOREX Technology sees revenue growth

LOREX Technology, maker of video surveillance equipment under the LOREX and Digimerge brands, recently announced that its revenue for the first nine months of the 2011 fiscal year grew by more than 31 percent over the prior year.

According to a statement, for the nine month period ending on June 30, 2011, the company’s revenue grew by $10.6 million over the prior year to $44.1 million, compared to $33.5 in 2010.

LOREX Chairman and CEO Reuben Klein said that the company has updated its projections and that revenue is now expected to be in the $58 million to $60 million range for the fiscal year.

"We have been able to continue to grow our business in this competitive business environment," he said.