March Networks, a video surveillance solutions provider based in Ottawa, Ontario, has seen a strong second quarter of its 2006 fiscal year.
Revenue for the quarter ended at CDN $19.8 million (all dollars amounts are in Canadian dollars), which puts the company up 79 percent over the same quarter in the 2005 fiscal year. Net earnings reported in at $5.1 million, and diluted earning per share at $.30 in the quarter.
According to a statement from March Networks, the financials "significantly exceeded" predictions. President and CEO Peter Strom credited gains "across all targeted verticals" for the company's strengthening financial results.
The year to date earnings for the first two quarters of the 2006 fiscal year log in at $7.9 million, up from $1.2 million in the same six months of the previous year. Diluted share earning for the first six months of fiscal 2006 are at $.47 per share.