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IndigoVision Posts Strong Financial Results and Boosts R&D Investment

IndigoVision, the leading supplier of complete IP Video security solutions, has announced its half year financial results. The company reported an increase in sales revenues of 12% to £12.0m ($18.0m) for the 6-month period ending 31 January 2010, with operating profits of £1.2M ($1.8m).

Commenting on the results Oliver Vellacott, IndigoVision's CEO said “These results are encouraging in a challenging economic climate, with sales comfortably ahead of last year and the second quarter stronger than the first. Whilst business and economic risks remain in the short term, we continue to have a high level of confidence in the long term future of IndigoVision.”

IndigoVision has continued to focus on R&D with a 30% increase in engineering spend in the current financial year. This has resulted in the development of a number of new products, including the addition of a high-performance PTZ dome; High-Definition (HD) IP camera range; and a family of standalone ‘Green’ Network Video Recorders (NVRs), which deliver much lower costs per Terabyte of storage than centralised recording servers. The company recently unveiled a technology preview of ‘Control Center’, its Security Management Software, displaying live video from ONVIF-compliant IP cameras. IndigoVision are active members on a number of the ONVIF working groups and are totally committed to providing a complete standards-compliant end-to-end IP security solution.

IndigoVision systems are employed across 20 different market sectors, with strong presence in casinos, rail, government, retail and city-wide surveillance. The transport sector has been particularly strong for the company with major wins in both rail and airports. These include the 775 camera system for the Santiago Metro in Chile, a surveillance upgrade to Eurotunnel’s French passenger terminal and the 2,800 camera solution at Delhi Airport’s new terminal 3. March 16th will see the official opening of the new 250,000 m2 passenger terminal at Shanghai’s Hongqiao International Airport, ahead of the World Expo in May. The terminal is being protected by a 1,880 camera IndigoVision system that is fully integrated with other security and airport systems.

IndigoVision’s route to market is through its local partners – systems integrators and installers – who receive comprehensive training from IndigoVision and who provide local system design, installation and support. IndigoVision continues to widen its channel to market with over 373 partners now authorised in over 76 countries. The company completely develops its technology in-house, including a rich suite of hardware products and 'Control Center' its flagship Security Management Software.

The full results statement is available from www.indigovision.com/investors_financeinfo.php.

About IndigoVision:
IndigoVision is a leading manufacturer of complete end-to-end IP video security solutions. IndigoVision is widely chosen for applications in airports, city centres, retail, ports, mining & petrochem, road & rail systems, education, finance, casinos, law enforcement, government and the military. These enterprise-class systems improve organisations' operational efficiency, enhance public safety and enable timely emergency response. IndigoVision has extensive reference sites including 7 rail networks, 2 of the world's top 5 banks, 28 airports, 27 casinos and two Olympic Games. IndigoVision is headquartered in Edinburgh UK, with its own local sales and support people in 21 countries across the world. IndigoVision partners with some 290 authorised system integrators and installers in 64 countries to provide local system design, installation and service to end users.