The high-definition surveillance systems provider has reported its financial results for the three months ending June 30 2013.
Revenue in the second quarter was C$39.92 million, up 61 per cent or C$14.8 million year-on-year. Avigilon cited a “strong rise” in product sales worldwide, penetration of new markets and sales of new products as key factors behind the increase in revenue.
Gross margin was 53 per cent, up from 48 per cent a year earlier, while earnings before interest, taxes, depreciation and amortisation (EBITDA) was C$5.4 million in Q2 2013, an increase of 159 per cent compared to C$ 2.1 million in the second quarter of 2012.
The year-on-year improvement in EBITDA reflected the company’s increased revenue and improved gross margin, according to Avigilon, along with “lower than expected personnel expenses in certain areas” due to delays in planned hiring during the quarter.
Alexander Fernandes, president and CEO at Avigilon, claimed the success in the second quarter was testament to the company’s growth strategies and a “rapid rise in demand” for high-definition surveillance systems.
He said: “We continue to expand our sales and product development teams aggressively and invest in marketing to increase brand awareness – efforts we believe will allow us to maximise revenue growth and long-term profitability.”
“Innovation is a hallmark of Avigilon, and in the second quarter we built on our track record with the introduction of the world’s smallest HD dome camera and the release of our Avigilon Control Center (ACC) 5.0 software,” added Fernandes.
“We also acquired RedCloud Securit., which has developed highly innovative web-based, physical and virtual access control systems. This acquisition provides complementary technology and an entry point to the growing access control market.”