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TEL-AVIV, Israel, January 17 /PRNewswire-FirstCall/ --
- Results Expected to Exceed Expectations
The Board of Visonic (LSE: VSC), the international developer and
manufacturer of electronic security systems (alarms) and home management
systems, is pleased to make the following trading update prior to the Group
entering its close period.
Trading since the Interim announcement on 7 September 2005 has been very
positive and consequently Group turnover and profit before tax for the year
to 31 December 2005 are expected to exceed current City expectations.
While the Groups core products have continued to generate healthy
revenues during the period, Visonic has also successfully expanded into new
markets, as well as having obtained patent approvals for innovative
technological products.
This performance has been positively impacted by the ongoing success of
the Groups stated strategy of increasing sales through mass-market
distribution channels, developing and launching new innovative products and
offering customers flexible solutions with full support.
New Sales Agreements
During December, the Group signed an OEM agreement for the supply of its
products to a major North American security company, which is expected to
generate sales in the region of US$5m over three years. This agreement is of
particular significance as it is for the supply of Visonics products as an
OEM product for another security company. This brings the total number of
sales/distribution agreements reached during the year to 12.
Visonic Technologies (VT), Visonics subsidiary which manufactures real
time location systems for commercial and institutional use such as prisons
and hospitals, also achieved positive results during the year.
Commenting, Dr Avi Shachrai, CEO and President of Visonic, said:
"We are extremely pleased our results are likely to exceed expectations.
We have benefited enormously from the strategy we put in place a few years
ago and have been pursuing rigorously ever since. The Groups performance
over the last year demonstrates the strength of our business model, with our
core products performing extremely well, positioning us favourably in what is
a competitive environment."
"Gaining this new OEM distribution agreement with a leading North
American security company is another achievement for the Group. It clearly
demonstrates the acknowledgment our products have gained in the market place
as being of top quality and technologically advanced."
The Group intends to announce its Preliminary Results on March 22 2006.
CONTACT: Dr Avi Shachrai (President & CEO)
Shmuel Koren (CFO)
Ruth Grossman (Director of Investor
Relations)
Visonic
Tel: + 972-3-645-6718
Email: rutig@visonic.com
Website: http://www.visonic.com
Alistair
Mackinnon-Musson
Philip Dennis
Hudson Sandler
Tel: +44-(0)20-7796-4133
Email: visonic@hspr.co.uk
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