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Mirasys hit by growth challenge while entering 2011

Mirasys experienced a year of significant growth in 2010 and has recorded a great start to the year 2011.

Last year, the revenues of Mirasys showed an annual growth of 18%, which was a good result during the challenging state of recession in many of the company’s key market areas, and higher than the expected growth of 15% on the global VMS market. In January 2011, the revenues of Mirasys exceeded the numbers of January 2010 by 70%. However, the fast growth has also brought us some delivery problems.

“While we feel that Mirasys has made a tremendous start to the new year, we have to admit that it hit us by a surprise. Therefore, we have not been able to supply all the hardware orders with the delivery times our partners have learnt to expect from us. The Q4/2010 growth rate was already higher than 25%, and the current year seems to be accelerating very fast,” said Jukka Riivari, the CEO of the Mirasys Group. “We increased our inventory levels all the way during Q4 but despite this, we seemed to be all the time behind the tremendous growth of demand. Now we have decided to take a bigger step forward to make sure our delivery time becomes one week as promised instead of two weeks as experienced during the November to January period.” 

2010 was good for Mirasys not only because of the huge growth of revenues, but also because all business regions contributed evenly to the results. The previous year Mirasys opened three new European sales offices last year: Mirasys Italy, based in Milan, started operations in January 2010. Two other sales offices were opened in the fall: Mirasys Baltic in Tallinn, targeting the Baltic States, and Mirasys DACH in Frankfurt, covering Germany, Austria and Switzerland. All of these country organizations have already during their first year of operation established a significant position on their respective video surveillance markets.

With the new year, the tempo of globalization of Mirasys sales is accelerating. Followed by the Indian sales office established in Q4, two new Mirasys sales offices have already been opened during January: Mirasys Sweden was opened in Stockholm, and Mirasys Middle East has started sales and service operations in the Gulf region. There are several others to follow. At the same time, Mirasys has announced the availability of version 5.11 of its Carbon Video Management System (VMS). Designed to provide vast scalability, performance, intelligence and integration features, Carbon VMS offers tailored solutions and system support for large distributed video surveillance applications with video analytics and system-wide capabilities.

“The growth we experienced in last year would not have been possible without the excellent sales and support work done by our distributor, integrator and installer partners. We thank you all heartily for your efforts and will do our best in helping you to do good, growing and profitable business with Mirasys products during this year,” says Marco Ylä-Kojola, Sales Director of the Mirasys Group. “I also wish to thank our regional and country organizations, whose role and importance of are growing constantly.”

Mirasys News
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