IndigoVision expected to report operating loss

SP&T Staff
Wednesday November 29, 2017
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According to a notice posted on stockmarketwire.com, Edinburgh, Scotland-based surveillance provider IndigoVision reported last week that its results “will be below forecasts and that it will report an operating loss for the year ending 31 Dec.”

Company CEO Marcus Kneen has resigned from the board and has been replaced by interim CEO Pedro Simoes. Simoes was appointed as senior vice-president, global sales, on Oct. 2.

According to a statement, U.S. sales teams are “showing continued signs of delivery,” but there were “unforeseen delays” related to other large contracts stemming from difficult trading conditions in the Middle East.

However, gross margins are still expected to be ahead of last year.

Read the full statement here.

The BBC also reports here.

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