ASX-listed security surveillance company Spectur has posted a solid 149 per cent lift in sales revenue for the first two months of the year driven by a lift in camera rentals and a successful east coast expansion. The Perth-headquartered security tech play, which now has over 1,100 cameras deployed in the field, says it is also supplying its HD4 camera system to a new tier-one critical infrastructure client.
ASX-listed security surveillance company Spectur has delivered a solid lift in revenue for the first two months of the calendar year, with total revenues for January and February jumping 149 per cent when compared to the same period last year.
In a market update this week, Spectur said it posted over $416,000 in sales revenues for the first two months of the third fiscal quarter of the 2018 financial year, despite the first two months of the year being a traditionally quieter time of the year.
The company produces high-definition security camera networks that are solar powered and work wirelessly in any location where 3G or 4G mobile access is available.
Spectur’s cameras are mostly targeted at the commercial, industrial and government sectors.
According to management, the impressive top line growth for January and February was the result of company’s recent east coast expansion, ongoing growth strategy and a pick-up in camera rentals.
In a recent market update, the company said; “The number of camera units rented is increasing at a faster rate than direct camera unit sales with 59 new rental units deployed in January and February alone,”
“Rental systems provide the company with greater returns on investment and higher gross margins. The company is actively targeting increasing the volume of rentals because of these factors.”
Spectur has also started to supply its HD4 camera system to a new critical infrastructure client who operates throughout NSW and Victoria, with the tier one client set to trial the system on two new sites.
The company’s HD4 security camera system is Spectur's lead product offering.
The HD4 is a solar powered and battery backed-up security system that can be remotely accessed. It works using mobile technology linked to a cloud-based platform.
Spectur is also well advanced in developing a unique thermal camera detection system that uses state-of-the-art heat-based imaging technology that can reliably detect people and vehicles up to 300m away in the dark, with ranges of up to 2km said to be possible in some settings.
The latest update is further evidence of strong growth in sales and rentals at the recently listed Spectur with revenues across the first seven months of FY18 already surpassing total revenues for the previous financial year.
Since listing on the ASX just last year, Spectur has established operations in four states, delivered sales to national tier-one firms in the transport, construction and critical infrastructure sectors and it now has more than 1,100 cameras deployed in the field.