IndigoVision, a leading supplier of IP video and alarm management solutions, has doubled its sales for the third consecutive year, far outperforming similar companies in this increasingly important sector of the security market. In its preliminary year end results the company has reported an increase in product revenues of 92% to US$26.8m for the year ending 31 July 2007, with operating profits increasing by 81 percent. In anticipation of continued growth IndigoVision has invested significantly over the last year with key appointments to the senior management team and a major expansion of its North American sales operation.
IndigoVision has invested in strong management this year with three important new appointments; Chief Marketing Officer, Joanna Brace, Group Sales Director, Gavin Richardson and Group HR Director, Carol Scambler. IndigoVision has also undertaken a significant expansion of the global sales team and the establishment of an operations hub in the USA and Singapore. The company has made a major investment in the US market, with the recent promotion of Paul Murphy to VP Sales USA and the expansion of the US sales and support team, including additional specialists for vertical markets worldwide such as casinos. The recently opened operations hub in New Jersey is providing distribution and customer support for the whole of North America.
Commenting on the results Oliver Vellacott, IndigoVision CEO said "This has been another excellent year for IndigoVision with strong growth across all territories and in multiple sectors of the market, especially rail and casinos. The appointments to the senior management team, continued R&D investment and further development of our partner network gives us an excellent platform from which to continue the companyâ€™s outstanding growth for the coming year."
These results reflect a number of significant wins for the company, particularly in the transport and gaming sectors. In July 2007 IndigoVision was awarded its largest ever US contract to supply a fully digital 1,100 camera system to two casinos in Tucson, Arizona. This followed on from the company winning a prestigious contract for TransLink in Vancouver, Canada to upgrade the 880 camera CCTV system on SkyTrain, the world's largest automated light rapid transit system.
IndigoVision has over a 1000 major installations worldwide including two Olympic Games, the 2006 Soccer World Cup, 7 major rail networks, 2 of the world's top 5 banks, 28 airports and 5 casinos. IndigoVision completely develops its technology in-house, including a rich suite of hardware products and 'Control Center' its flagship Video and Alarm Management software. The full results statement is available from www.indigovision.com/investors_financeinfo.php.