Locks and Security News: your weekly locks and security industry newsletter
24th April 2024 Issue no. 702

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Another good year for Milestone Systems

Milestone Systems, the open platform company in IP video management software, has delivered strong results for 2011 and continues impressive growth with profitability and investments in research and development.

Despite the continued slowdown in European markets, Milestone has recorded revenue growth of 22 percent to USD 46.89M against USD 38.3M in 2010.

Operating income before depreciation (EBITDA) reached DKK 44.8M (USD 7.9M) and net income reached DKK 10.3M (USD 1.8M). The number of employees grew by 26 percent, from on average 246 in 2010 to 310 employees globally in 2011.

"We are proud of what we have achieved in 2011. Especially the US region has shown very good results in 2011. Milestone also opened offices in Brazil and Bulgaria," says President & CEO Lars Thinggaard, Milestone Systems.

In 2011, Milestone invested DKK 50.2M (USD 8.9M) in product development and millions in employee development and leadership training.

"We believe that we will achieve the best results with long-term investments. Therefore, we have continued to invest in growth in 2011. We want to develop leading software that improves business performance and increases security through managing and distributing digital video data regardless of time or location. This requires world-class research and development and a deep understanding of our user's needs. We spent DKK 50.2M (USD 8.9M) on R&D in 2011. The investments support our efforts to win an even larger share of the growing global market and strengthen our position as the world's leading producer of open platform IP video management software," says Lars Thinggaard.

Milestone has great expectations for continued growth in the global market for IP video surveillance. In 2012, Milestone will continue to invest in expansion of the product portfolio and in employee and management development, as well as training of the sales channel and opening offices in new markets. Today Milestone has more than 10,000 certified partners worldwide and in 2012, Milestone will host more than 20 partner conferences globally.

16th May 2012