Vicon Industries, Inc. (VII) saw its loss narrow to $1.90 million, or $0.20 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $7.66 million, or $0.82 a share. Revenue during the quarter dropped 24.94 percent to $6 million from $8 million in the previous year period. Gross margin for the quarter expanded 442 basis points over the previous year period to 37.41 percent.
Operating loss for the quarter was $1.84 million, compared with an operating loss of $8.44 million in the previous year period.
Vicon’s chief executive officer John Badke said, "The Company’s results for the quarter reflect an expected reduction in revenues, driven primarily by decreased sales of our legacy product offerings. However, we were pleased to launch our new Valerus video management system (VMS) platform in the quarter, which has received very positive feedback from the market. Significant enhancements to this platform, as well as to the Company’s camera line, were featured at the security industry’s largest annual trade show in early April and will be available for release by the end of June 2017. We believe that Valerus is the next generation enterprise level VMS platform that embodies the ease of use, openness and flexibility the market will come to demand from their overly complicated legacy systems. We have also ramped up our sales and marketing activities in anticipation of increasing market demand for our new solutions."
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