2010 Annual Results: Record Growth in Milestone Systems as Global Expansion Continues

COPENHAGEN, April 12, 2011 /PRNewswire/ --

- Milestone Systems, the world's leading producer of software for video surveillance, once again sets records on all levels: The 2010 annual results show a 56 percent increase in revenue to DKK 217.2M (EUR29.2M) and earnings increased to DKK 21.5M (EUR2.9M) from DKK 3.9M (EUR0.5M) in 2009. Milestone, which exports 96 percent of its sales, expects to maintain high growth rates in 2011.

Danish Milestone Systems A/S today released its 2010 accounts, which show a 56 percent increase in revenue to DKK 217.2M (EUR29.2M) from DKK 139.4M (EUR18.7M) in 2009. EBITDA more than doubled to DKK 54.1M (EUR7.3M) from DKK 24.4M (EUR3.3M) in 2009, with earnings of DKK 21.5M (EUR2.9M) compared to DKK 3.9M (EUR0.5M) in the previous year.

"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:

"Today we see the results of the strategy we implemented during the challenging years. We took some strategic decisions and expanded, even though it was tempting to do the opposite. Now Milestone Systems is very well positioned to maintain and expand its market position," says CEO Lars Thinggaard.

More than 100,000 Milestone installations worldwide

In 2010 Milestone Systems' staff expanded to an average of 246 employees from 181 in 2009, thereby continuing the company's steady growth since its founding in 1998.

"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 CEO Lars Thinggaard.

The global market for video surveillance is growing steadily. Year after year Milestone Systems has expanded its representation worldwide through dealers, distributors, partners and its own offices.

String of new products

In June 2010, Milestone Systems introduced XProtect(R) Essential, which is an advanced, yet simple and user-friendly software for smaller video surveillance installations. August saw the introduction of XProtect Go, an optimum "beginner product" for smaller companies and private users offered free to introduce analog users to IP technology. And in January 2011, Milestone launched version 4.0 of its flagship product, XProtect Corporate, with brand new features to satisfy even the highest demands for performance, flexibility, reliability, security and stability, designed for the largest multi-site needs within areas such as municipal surveillance, airports and railways.

Jesper Balser appointed new chairman of the board at Milestone

In 2010, Milestone Systems thanked chairman of the board Ole Stangegaard for nine years of service. The new chairman of the board, Jesper Balser, formerly held senior executive positions at Navision and Microsoft Business Solutions.

Milestone Systems expects the security market to maintain the positive trend in 2011 and future years, a view shared by most industry analysts. Milestone Systems is well positioned for the future.

    Annual results, Milestone Systems DK: 1 January - 31 December 2010

    Milestone Systems
                                       2010          2009      2009 to 2010
    amount (DKK and Euro millions)
    Revenue

                                   217.2/EUR29.2 139.4/EUR18.7     56%

    Operating profit                21.5/EUR2.9   3.9/EUR0.5    451%/480%

    Average number of employees         246           181          36%

About Milestone

Founded in 1998, Milestone Systems is the worldwide industry leader in open platform IP video management software, according to IMS Research six years in a row. Milestone XProtect(R) products have been installed in thousands of customer installations, sold through authorized and certified partners in more than 100 countries. With support for the widest choice in network hardware and integration with other systems, XProtect provides best- of-breed solutions to 'video enable' organizations - managing risks, protecting people and assets, optimizing processes, and reducing costs. http://www.milestonesys.com

SOURCE Milestone Systems