Locks and Security News: your weekly locks and security industry newsletter
17th April 2024 Issue no. 701
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Record growth in Milestone Systems as global expansion continues
Milestone Systems, a world leader of open platform IP video management software, once again sets records on all levels: The 2010 annual results show a 56 percent increase in revenue to DKK 217.2M (€29.2M) and earnings increased to DKK 21.5M (€2.9M) from DKK 3.9M (€0.5M) in 2009. Milestone, which exports 96 percent of its sales, expects to maintain high growth rates in 2011.
"A strong focus on establishment of additional sales offices around the world, certification of partners and recruiting many new employees form the basis of the positive figures we can present today. Milestone Systems is stronger than ever in terms of market share and financial position and we expect this to continue in the coming years," says Milestone Systems CEO Lars Thinggaard.
While the financial crisis raged in 2008 and 2009, Milestone Systems made significant investments in building new markets. These investments paid off in 2010.
"The reason for Milestone Systems' growth is our leading software. We have invested nearly DKK 250M in product development, which is one of the reasons we are the world leader in our business area. Today there are more than 100,000 Milestone systems installed and there are several thousand new customers monthly," says Thinggaard.
11th May 2011