IndigoVision, the leading supplier of IP Video and Alarm management solutions, has announced its half year financial results. The company reported an increase in product revenues of 148% to £6.2m ($12.1m) for the 6-month period ending 31 January 2007, more than doubling revenues in each region. This follows a similar trend in 2006, where IndigoVision continues to far outperform similar companies in this increasingly important sector of the security market.
Commenting on the results Oliver Vellacott, IndigoVision's CEO said: "This has been another excellent period for IndigoVision's business with healthy revenue growth, improved product gross margins and an operating profit matching that achieved for the whole of the previous year. Our investment in innovative new products, key appointments and continued development of our partner relationships gives IndigoVision an excellent platform from which to continue this outstanding growth for the coming year."
These figures reflect a number of significant wins for the company. At the end of 2006 IndigoVision was awarded its largest ever US contract, supplying an integrated 550 camera IP Video system for the new casino complex at the Mardi Gras Racetrack and Gaming Center in Florida. Recently the company won 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 - reflecting IndigoVision's continued success with infrastructure projects in the transport sector.
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 and 28 airports. IndigoVision completely develops its technology in-house, including a rich suite of hardware products and 'Control Center', its flagship Video and Alarm Management software.
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