Issue Date: October 29th, 2015

GeoVision Inc. announced the results of the third quarter and the first three quarters of 2015 approved by the Board of Directors at the meeting.

GeoVision reports consolidated revenue of NT$542.4 million, net profit of NT$128.7 million, and earning per share of NT$1.67 for the third quarter ended September 30th, 2015. Consolidated revenue of NT$1,586.2 million, net profit of NT$290.2 million, and earning per share of NT$3.77 for the first three quarters of 2015.

The third quarter results represented a 6% increase in revenue, a 55% increase in net profit and 40% increase in EPS compared to the second quarter 2015. For year-over-year results, the third quarter revenue decreased 2% while net profit and EPS both increased 17%. For the first three quarters results of 2015, revenues decreased 5% and net profit and EPS both decreased 20%.

Gross margin for the third quarter was 47%, operating margin was 15%, and net profit margin was 24%. Gross margin for the first three quarters was 50%, operating margin was 19%, and net profit margin was 18 %. Gross margin was coming down gradually quarter over quarter owing to the shipment increase in budget Target-series IP cameras. Due to the expansion on global marketing activities and R&D expenses, the operating expenses for the first three quarters increased 8% year-over-year.

The company reported a comparatively great sum of foreign currency exchange gains in the third quarter, due to both favorably strong US dollars and Euros exchange rate to Taiwan dollars. Based on the capital stock of NT$775.6 million after ex-rights, the earnings per share were NT$1.67 for the third quarter and NT$3.77 for the first three quarters.

GeoVision debuts the world's first Panoramic PTZ IP camera at ASIS held in California USA in September 2015. GeoVision’s Panoramic PTZ IP camera, model of GV-PPTZ7300, is an IP camera equipped with two lenses in a single dome closure. It is the first Panoramic network camera with a 5MP fisheye lens and an additional 2MP pan/tilt/zoom (PTZ) 10x zoom lens module, giving a 360° full coverage with zoom-in capability. This model has been granted patent by United States Patent and Trademark Office recently.

GeoVision Financial Results:

The following are the highlights of the company financial results for the first three quarters ended September 30, 2015.