GeoVision Inc. Announced Financial Results for the First Half Year 2016

August 8, 2016–The Board of Directors of GeoVision Inc. (TWSE: 3356) announced the audited financial reports for the first half of 2016 today.

The First Half Year 2016 Ended June 30th:

• Consolidated revenues were NT$996 million, decreased 5% year-over-year.
• Gross margin was 47%, down 5% from 52% the same period last year, due to sales increase in lower-margin Target-series IP cameras.
• Expenses increased 2% YoY compared to the same period in 2015.
• Operating profit was NT$148 million which represented a 15% of operating margin.
• Losses from unrealized foreign exchange during the first half year amounted to NT$20 million.
• Pretax profit was NT$120 million, declined 38% compared to the same period in 2015.
• Net profit attributable to owners of the parent company was NT$100 million. Based on the current capital of NT$775.4 million the EPS was NT$1.30, declined 38% compared to the same period in 2015.
• The Board of Directors also approved the proposal of reinvestment in a security equipment distributor company in Shanghai China, planning to broaden GeoVision’s sales channels and strengthen its involvement and visibility in China security markets through the cooperation with the reinvestment company.

GeoVision Financial Results:

The following are the highlights of the company financial results for the first half year ended June 30, 2016.