Foreign sales spurred strong fiscal 2007 second-quarter results for Vicon Industries Inc. (AMEX: VII); in response, shares soared as high as 20 percent in Friday afternoon trading, settling at $11.65 at the closing bell.
Net sales for the second fiscal quarter 2007 increased to $16.9 million, up 38 percent from last year’s first quarter results of $12.2 million. Net income was reported at 16 cents per diluted share, or $802,000 – a significant jump from a loss of $848,000, or 19 cents per share, in the same period for 2006.
Ken Darby, Vicon CEO said, in a press release, sales in the U.S. grew 33 percent to $8.8 million. Foreign numbers took center stage and the credit for combined sales growth, as the company reported an increase of 44 percent to $8.1 million. Shipments in the Middle East and Europe climbed 55 percent.
Founded in 1967, Vicon specializes in the development, production and sale of video and surveillance systems in over 40 countries. Vicon has made recent relationships with ViconNet for video management application and Kollector to provide its users with enhanced capability.
The company offers an array of products, from digital video transport and storage systems to monitors and time-lapse recorders. Vicon products are used in the gaming, industrial, education, healthcare, transportation and energy industries, as well as correctional facilities.
Vicon representatives were unavailable for comment as of Friday afternoon; MN1 will continue to follow Vicon and publish articles as additional information becomes available.
