Avigilon reports significant growth in 2012
Vancouver-based Avigilon recently posted its year-end and Q4 2012 results, reporting a dramatic increase over 2011 results.
According to the company, revenue in 2012 was $100.3 million, an increase of 67 per cent over 2011 results. Net income was $7.2 million compared to $3.8 million in 2011. In the fourth quarter, revenue was $32.6 million, up from $18.8 million in Q4 2011.
“We are very pleased with our 2012 performance,” said Alexander Fernandes, president and chief executive officer at Avigilon, in a statement. “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.”