IndigoVision expects substantial improvement

IndigoVision expects to report a profitable outcome for the year to 31 December which, it says, would represent a substantial improvement over the 2015 full year operating loss of $0.7m.

The group says it successfully launched its tiered 'Control Center' video management software as planned on 1 November. This expansion of the software range is expected to widen the available market opportunities for the Group and reduce, over time, the volatility arising from larger, project-related sales. An update says: "As anticipated, the second half of the year to date has seen higher revenue than in the first half and second half revenues are running ahead of the corresponding period in 2015, with camera volumes up 20% year on year largely offset by lower selling prices. Price competition has had limited impact on IndigoVision's gross margin as a result of the change in hardware strategy made at the start of 2016. Overheads remain well controlled and materially below last year.

"As a result of these factors IndigoVision is trading profitably in the second half, after losses in the first half, and expects to report a profitable outcome for the year to 31 December 2016 as a whole. This would represent a substantial improvement over the 2015 full year operating loss of $0.7m."