| Avigilon reported revenue of $32.6 million, an increase of 73% over Q4 2011 revenue of $18.8 million |
Avigilon Corporation, a leader in high-definition (HD) surveillance systems, recently announced its financial results for the three and 12 months ended December 31, 2012. All figures are stated in Canadian dollars unless otherwise noted.
2012 Financial Highlights
- Revenue was $100.3 million, an increase of 67% from $60.0 million in 2011.
- Gross margin was 49%, up from 46% in 2011.
- EBITDA was $12.7 million, a 92% improvement over $6.6 million in 2011. (See "Non-IFRS Measures" below.)
- Net income was $7.2 million, an 87% increase compared to $3.8 million in 2011.
Fourth Quarter 2012 Financial Highlights
- Revenue was $32.6 million, an increase of 73% over Q4 2011 revenue of $18.8 million.
- Gross margin was 50%, in line with 50% a year earlier.
- EBITDA was $5.3 million, a 120% improvement over Q4 2011 EBITDA of $2.4 million. (See "Non-IFRS Measures" below.)
- Net income was $3.0 million, an 88% increase compared with net income of $1.6 million in Q4 2011.
"We are very pleased with our 2012 performance," said Alexander Fernandes, president and chief executive officer at Avigilon. "We delivered substantial top line improvements and nearly doubled both EBITDA and net income, while also strategically investing in the business to support our ongoing growth plans. There are significant growth opportunities in the worldwide surveillance market. As such, we remain highly focused on further expanding our global sales team, continuing to deliver innovative products and investing in marketing to build more brand awareness."