IndigoVision Continues Strong Growth

IndigoVision has announced its half year financial results. The company reported an increase in sales revenues of 25% to £15.0m ($24.0m) for the 6-month period ending 31 January 2011, with operating profits up by 15% to £1.4M ($2.2m). Significant investment in research and development continued and the strong balance sheet enabled the payment of an interim dividend for the first time.

IndigoVision has continued to focus on product development with a number of significant projects coming to fruition in the last 6 months. The company is currently undertaking its worldwide launch of ONVIF-conformant ‘Control Center' Video Management Software and Network Video Recorders (NVRs). IndigoVision is already an Open System for storage, access control, analytics and other security systems. So ONVIF is truly ‘the final piece of the jigsaw' for IndigoVision's open architecture in that it extends freedom of choice to third party cameras. The company has also extended its integration capability with a number of new features in ‘Control Center' and updates to access control integration modules.

Commenting on the results Oliver Vellacott, IndigoVision CEO said "These results represent sound progress against a mixed economic backdrop and we are pleased to be paying an interim dividend for the first time. Our ONVIF development marks the culmination of our journey to becoming what we believe is the most open IP security system in the world. It gives our customers the best of both worlds: the easy installation and low service calls they've come to expect from our end-to-end solution, coupled with the freedom of choice that comes from a truly open system. This strengthens IndigoVision's position in the market."

IndigoVision continues to be strong in major infrastructure projects in the airport, rail and government sectors. The 3700+ camera system at Delhi International Airport, India, which is believed to be the largest single installation of an IP Video system anywhere in Asia, is typical of the major airport projects that have benefited from IndigoVision's technology. Cardiff International Airport, UK, is the most recent win in this sector, taking the total number of airports worldwide that use IndigoVision to over 40. Another strong performing sector has been cities, where the need for a server-less distributed architecture is vitally important. Chihuahua State in Northern Mexico has installed an IndigoVision system to centrally monitor 9 cities covering an area of over 100,000 square miles. The number of cities deploying an IndigoVision solution in Latin America alone is now over 40.

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 300 partners now authorised worldwide. The company completely develops its technology in-house, including a rich suite of hardware products and 'Control Center' its flagship Video Management Software. The full results statement is available from www.indigovision.com/investors_financeinfo.php