News & Media
Visonic Audited Annual Results
March 12 2008
Visonic (LSE: VSC.L; TASE: VSC.TA), the international developer and manufacturer of electronic security systems (alarms) and home management systems, announces its audited Annual Results for the year ended 31 December 2007. The full text of the 2007 Annual Report and Accounts is available at: www.visonic.com/financials
Highlights
- Group sales up 13% to $74.4 million (2006: $65.8 million)
- Visonic's core business sales up 14% to $68.1 million (2006: $59.9 million)
- Margins continue to be affected by weakness of the US$ against the Israeli Shekel together with the increase in R&D and Sales & Marketing spend
- Provisions of $2.4 million for decrease in value of financial assets reduced profits; no operational cash flow impact
- Profit before tax $0.2 million (2006: $6.0 million)
- Profit after tax $0.4 million (2006: $5.2 million)
- Earnings per share 1 cent (2006: 12.6 cents)
- Balance sheet remains strong - positive operating cash flow in the second half
- 24 products launched, including PowerMax®Pro
- Maintained dividend of £0.01 per ordinary share
- 2008 has started well with 2008 sales (January and February) up 21% against the comparable period in 2007.
- Major new supply contract signed in Feb 2008 – expected $4 Million additional sales over the next two years
