Avigilon Corporation, the Canadian high-definition (HD) surveillance product firm, announced its financial results for the three and nine months ended September 30, 2013. In Canadian dollars its third quarter 2013 revenue was $51.1m, an increase of 101 per cent over Q3 2012 revenue of $25.5m. Gross margin was 53pc, up from 51pc a year earlier.
Net income rose to $8.6m, a 298pc increase from net income of $2.2m in Q3 2012.
Alexander Fernandes, president and chief executive officer at Avigilon, said: “Demand for our systems worldwide continues to grow rapidly, which is clearly reflected in our financial performance for the third quarter as we reached a milestone of more than $50 million in quarterly revenue. Our strategies are working, and we will continue to invest to expand our global sales team, expand our product portfolio, and increase marketing efforts. Combined with healthy underlying growth in the high-definition surveillance market, these strategic investments position us well to deliver sustainable long-term growth.” For the results in full visit the company’s website.
