IndigoVision, the leading supplier of complete IP Video and Alarm management solutions, has announced its half-year financial results. The company reported an increase in product revenues of 48% to £9.18m ($18.6m) for the 6-month period ending 31 January 2008, with operating profit increasing by 269% to £1.29m ($2.62m). This follows a similar trend in previous years, where IndigoVision outperformed similar companies in the increasingly important IP Video Security sector.
Commenting on the results Oliver Vellacott, IndigoVision's CEO, said: "Having invested significantly in the management and worldwide sales teams during the last financial year, the last six months have seen this start to feed through in higher levels of profitability."
"Our investment in R&D has seen a number of new products been introduced including additions to our IP camera range, integration support for third party access control systems and major enhancements to our Network Video Recorder (NVR) range. This development will continue with a number of exciting new products scheduled for release in the coming year, ensuring we maintain our technology lead."
IndigoVision has seen significant growth in a number of markets, particularly in retail, education, oil & gas and casinos. The casino industry requires the best CCTV technology to ensure Gaming Board compliance. IndigoVision has now upgraded 13 casinos worldwide to fully digital CCTV surveillance, establishing the company's complete IP Video solution as the benchmark for the gaming industry.
IndigoVision has over 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.
To see the full results statement, please click here