IndigoVision Group PLC ("IndigoVision" or the "Company")
At IndigoVision's Annual General Meeting being held at 10.00am this morning, Hamish Grossart, Chairman, will make the following statement:
"We reported along with our annual results, released on 29 September 2010, that sales for the first few weeks of the current financial year were comfortably ahead of the corresponding period last year with mixed performance across the regions. This pattern has continued for the first quarter, which is encouraging, and sales for the three months to 31st October 2010 were some one third higher than the corresponding period last year. Whilst this level of growth is most satisfactory, it should be borne in mind that the comparison with last year is flattered by last year's slow first quarter, and therefore this level of growth is not a reliable indicator for the current year as a whole.
First quarter gross margins are expected to be similar to the corresponding period last year, and overheads are expected to be higher, reflecting the planned continued extra spend on product development and engineering. However, given the increased sales, we expect the first quarter's net operating performance, when finalised, to show a healthy improvement over last year."
For further information please contact:
IndigoVision Group plc
Oliver Vellacott (CEO)
Marcus Kneen (CFO)
+44 (0)131 475 7200
Brewin Dolphin Limited (NOMAD)
+44 (0)131 225 2566
Pelham Bell Pottinger
+44 (0)207 861 3112
+44 (0)7802 442 486
Notes to Editors
IndigoVision is a leading manufacturer of end-to-end IP video security solutions for airports, ports, rail, traffic, cities, retail, banking, mining, education, casinos, police, prisons and government. These enterprise class systems improve organizations' operational efficiency, enhance public safety and enable timely emergency response. IndigoVision operates from six regional centers in New Jersey, Sao Paulo, Singapore, Dubai, London and Edinburgh, each with training facilities, demo suites and local stocking. With sales and support staff in 23 countries, IndigoVision partners with some 300 authorized system integrators to provide local system design, installation and service to end users.
This information is provided by RNS
The company news service from the London Stock Exchange