Avigilon, a Canada-based manufacturer of video surveillance solutions, announced last week that 2012 was a record-setting year for the company as it topped $100 million in revenues for the year, a 67 percent increase from $60 million in revenues in 2011.
According to the company’s year-end and fourth quarter 2012 results, Avigilon also saw increases in its gross margin (49 percent, up from 46 percent in 2011), EBITDA (earnings before interest, taxes, depreciation and amortization; a 92 percent improvement over $6.6 million in 2011) and net income ($7.2 million, an 87 percent increase compared to 3.8 million in 2011).
The company also had a particularly strong fourth quarter with revenues of $32.6 million, an increase of 73 percent over Q4 2011 and $3 million in net income, an 88 percent increase over the same time period during the previous year.
In a statement, Avigilon President and CEO Alexander Fernandes said the company was able to achieve this growth while simultaneously investing in their future.
"We are very pleased with our 2012 performance," he said. "We delivered substantial top line improvements and nearly doubled both EBITDA and net income, while also strategically investing in the business to support our ongoing growth plans. There are significant growth opportunities in the worldwide surveillance market. As such, we remain highly focused on further expanding our global sales team, continuing to deliver innovative products and investing in marketing to build more brand awareness."
In a previous interview with SIW, Fernandes credited the company’s growth to the successful execution of their strategy following an initial public offering on the Toronto Stock Exchange in November of 2011. This three-fold strategy included expanding sales efforts, increasing brand awareness and accelerating product development.
Click here to read a press release detailing the company’s recent financial results.