Samsung GVI Security has returned to profitability, said Steve Walin, CEO of the company at a media address this morning.
Walin, who became CEO of the company in 2006, said that GVI has recently seen four quarters of profitability; that string of profit, said Walin, signified a full financial turnaround for the firm.
"We declare victory for the turnaround of the company," said Walin.
At the same time, the company announces that it was receiving investments from Samsung to the tune of approximately $1.5 million between now and early 2009. That funding, said Walin, will be used to support GVI's growth strategy, which is to double the firm's market share within three years. Much of the funding will be used to expand the company's sales and marketing channels. At the same time, the company is following through on continued product launches and product advances.
Here at the ISC West tradeshow in Las Vegas, the company introduced three new IP cameras, including a megapixel offering, a fixed IP camera and an anti-vandal IP dome offering. The three new camera models tie in dual stream formats (MJPEG and MPEG4), allow for D1 resolution at 30 fps, and can include storage cards for localized storage.
Also from the company is the new video management solution which can support 250 devices, allow access to the in-camera SD cards over the network, and allows streaming.
With a strong product offering, new funding and a return to profitability, Samsung GVI Security is clearly back on track for the future of video surveillance.