TORONTO – Lorex Technology’s third-quarter revenue was US$21.2 million, up 29 per cent from a year earlier, the Toronto-based video surveillance company said Tuesday.
Lorex (TSXV:LOX) had US$1.6 million, or three cents per diluted share, of net income in the three months ended June 30. A year earlier it had US$920,000 of net income, or two cents per diluted share, with US$16.5 million of revenue.
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It has had record high revenue and EBITDA (earnings before interest, taxes, depreciation and amortization) in the first nine months of fiscal 2012.
EBITDA was $6.6 million in the nine-months ended June 30, including $2.4 million in the fiscal third quarter. A year earlier, the comparable numbers were $3.9 million and $1.5 million.
“We were able to continue to grow the business in spite of a slow economy and its associated competitive business pressures,” Lorex chief executive Reuben Klein said in a release.
“We were also able to overcome cost increases that resulted from the worldwide hard disk drive shortage caused by the flooding in Thailand.”
Lorex Technology provides businesses and consumers with video surveillance security solutions that include wired, wireless and IP security surveillance and monitoring equipment including cameras, digital video recorders and all-in-one systems.
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