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News

Reduced 1Q sales forecast from Vicon Industries

Vicon Industries : 31 December, 2009  (Company News)
Physical Security Information Management System supplier is lowering its outlook on first quarter sales due to a continuation of weak markets
Vicon Industries has announced that first fiscal quarter sales are expected to be off significantly from year ago levels. Vicon Chairman and CEO Ken Darby said sales for the December 31, 2009 first fiscal 2010 quarter are expected to be down 25-30% due to continuing weak market conditions. The Company also anticipates the lower sales to result in a net loss in the range of $600,000 to $800,000 (or $.13 to $.17 per share) for the first quarter. "Capital expenditures for construction and other projects incorporating electronic security systems remain sluggish worldwide. Throughout fiscal year 2009 incoming order levels declined each quarter reaching a low of $13.1 million in the September 2009 quarter. New orders for the December 31, 2009 quarter are anticipated to be similar at approximately $13 million. The nature of our project oriented business is such that we trail a decline in economic activity and most likely will trail the recovery," said Mr Darby. The Company expects to announce its first quarter results on or about February 5, 2010.
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