Viscount Reports 3rd-Quarter Results
BURNABY, British Columbia, Canada
Viscount announces its third-quarter results ending Sept. 30. Net income improved from a loss of $256,609 in the second quarter to a loss of $25,769 for the third quarter. This represents a reduction of 90 percent.
According to Viscount, Revenue was $1.132 million compared to $1.318 million for the third quarter the previous year. The lower revenue represents a decrease of legacy Enterphone® sales from $626,596 for third quarter 2005 to $339,155 for third quarter 2006.
This was partially offset by continued growth of MESH products to $254,556.
“The future of Viscount is MESH™. The first nine months of 2006 reflected lower sales of obsolete Enterphone technology and the planned transition to MESH. Looking forward we are forecasting sales to increase 50 percent in 2007 and to increase by 300 percent in 2008 compared to 2006. This improvement is based on a number of factors,” says Steve Pineau, Viscount president and CEO.
MESH accounts for more than 25 percent of Viscount’s total sales.
“We have a large backlog of projects booked in the early commercial stages of MESH in 2004-2005 and these will be shipping in 2007. With the release of MESH V5, the average dollar value per order has also increased,” says Pineau. “The recent release of MESH Enterprise completes the transition from voice panels for multiresidential projects to full facility security for commercial, industrial and government facilities. Our Enterprise literature is available at www.viscount.com/Pdf/new_brochure/mesh.pdf.”
The strengthening position of the Canadian dollar also helped impact total revenue.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!