• The revenues decreased by 14.5% year over year to NT$340 million during the first quarter of 2018.
• Gross profit were NT$132 million and the gross margin remained at 39% compared to the first quarter of last year. The newly launched products such as AI face recognition cameras and helped increased and maintained a positive gross margin by product mixes.
• Operating expenses increased 2% to NT$166 million due to the increase on operating cost and sales & marketing expenditure.
• The operating loss amounted to NT$34 million for the first quarter due to the decreased revenues and increased expenses.
• The appreciation of TWD to USD led to a loss of NT$26 million on foreign currency exchanges.
• Net losses amounted to NT$55 million which represented the loss per share of NT$0.62 based on the current capital of NT$894 million.
• GeoVision attended a recent press conference at ISC West 2018, organized by the Taiwan External Trade Development Council (TAITRA), Taiwan’s foremost trade promotion organization. In the conference, GeoVision demonstrated a new facial recognition IP dome camera with cutting-edge AI. It can recognize 8 human faces in 1.5 seconds simultaneously, making possible identification of authorized versus un-authorized personnel, creation of blacklists for restricted personnel, and VIP lists to improve relationship management.

GeoVision Financial Results: