Modest Growth 2nd Half 2009

JH
John Honovich
•Published Mar 13, 2010 00:00 AM
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Following monster growth in the last fiscal year, IndigoVision's revenue growth rate was positive but far more modest in the 2nd Half of 2009 [link no longer available] of 12% year over year. 

By contrast, the 1st Half of 2009 witnessed a 70.6% revenue growth rate year over year. Given the overall industry growth rate and this half's rate for IndigoVision, the previous achievement may be an aberration. Also, revenue decreased from the first 6 months of 2009 to the second (15.7 GBP in H1 2009 to 12M GBP in H2 2009) (note: technically, their fiscal year starts Feb 1).

In IndigoVision's discussion of their H1 2009 results, they provide some details, including:

  • "North America, Southern Europe and the Middle East performed at lower rates . . . primarily affected by the fall off in the construction market."
  • "Significant investment in product development in the current financial year. . . 30% increase in engineering spend to 1.3m (2009: 1.0m).

These results are consistent with the trends of IP video focused companies with positive growth including Axis and Mobotix.