Viscount has reported its Q1 2005 financial results, with a highlight being a 25 percent increase in overall revenue, making Q1 2005 the best revenue quarter yet for Viscount.
Sales for the three months ending March 31, were $1,094,366 ($1,323,745 Canadian) compared to $875,612 ($1,148,190 Canadian) for the same three months of 2004. MESH, the company's access control software system, represented 20.1 percent of the overall revenue, driving the company's results.
Viscount (www.viscount.com)reported that Selling General and Administrative expenses were down by $95,994 (13.7 percent) for the first quarter over the same quarter 2004.
"Our Q1 is traditionally a slow quarter," said CEO Stephen Pineau, "so the fact that Q1 2005 was a record for any quarter is a very positive indicator that MESH will be the growth engine we anticipated. In Q1, 2005, we began to see the results of our plan. In 2004, we greatly increased our promotional budget and recent revenue growth can be almost entirely attributed to MESH."