IndigoVision, the UK-based manufacturer of IP video solutions, has seen significant sales growth and product revenues, according to a statement issued by the firm earlier this month.
According to the company’s most recent financial results, product revenues for the year ending July 2009 grew by 43 percent to a record $43.7 million, with operating profits increasing to $5.4 million. Despite a depressed global economy, the firm also saw sales growth across the board with the Americas leading the way with a 103 percent increase, followed by the Asia-Pacific region at 50 percent, and the European/Middle East/ Africa market at 10 percent.
Casinos, along with airports and rail providers continue to be strong verticals for the company as well. The Canada Border Services Agency recently decided to purchase IndigoVision HD IP cameras and the company’ products have also been chosen for deployment in several prestigious hotels located in Europe and the Middle East.
“These are great results achieved in a difficult economic climate,” said IndigoVision CEO Oliver Vellacott. “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 analog systems to IP, 90% of this transition has still to take place, giving IndigoVision a clear opportunity.”
Vellacott added that the company will be increasing spending on research and development to prepare for its next growth phase.
IndigoVision’s full financial result can be found at http://www.indigovision.com/investors_financeinfo.php