Strong Q1 2010 GrowthBy John Honovich, Published on May 17, 2010
For the first 3 months of 2010, Mobotix generated strong growth - continuing a rebound from a near growth stall experienced in 2009. Q1 2010 (calendar year) revenue was up nearly 30% from 10.5 Million Euros to 13.6 Million Euros. Compare this to calendar Q4 2009, revenue was up only 8.7% year over year. Calendar Q3 2009 was the worst quarter for Mobotix with revenue up less than 3%. Prior to the recession, Mobotix growth rate was in the 40% range.
Mobotix's quarterly report provides more details on their performance:
- Domes (including the Q24) continue to drive growth, growing 3x as fast as fixed camera sales.
- Growth rate outside of Europe was double that of inside Europe (reflecting growing international expansion).
- The US subsidiary experienced especially high growth (with 40% gains over the last 9 months, compared to 15.3% growth for the entire company)
- Mobotix's guidance for future performance was bullish