Company Posts 700 Percent Revenue Growth Over Four Years
OTTAWA, Oct. 2 /CNW Telbec/ - March Networks(R) (TSX: MN) announced today that it has been recognized as one of the top 50 fastest-growing technology companies in Canada in the 2009 Deloitte Technology Fast 50(TM) listing. The ranking reflects the company's success establishing itself as a global leader in the rapidly growing market for intelligent IP video surveillance solutions.
In fiscal 2008, March Networks recorded sales of $94 million, which represents 700 percent revenue growth since fiscal 2004. According to Deloitte, the company also ranks as one of the top five leading technology performers in the Ottawa-Carleton region, where the company is headquartered.
Building on its strong position providing networked video recording platforms to many of the world's largest financial, retail and transportation organizations, March Networks has dramatically expanded its addressable market through the development of an end-to-end portfolio of IP video management solutions. March Networks systems are used by leading organizations including Melbourne International Airport, US Bank, Walmart, the Toronto Transit Commission, HSBC Mexico, the University of Amsterdam, the City of Florence and Ras Al Khaimah (RAK) International Airport in the U.A.E.
During the past three years, the Company has also increased its global presence significantly by establishing new offices in Milan, Italy; Dubai, United Arab Emirates; and Sydney, Australia. This aggressive, geographic expansion contributed to the company attributing 45 percent of revenue to international sales in its most recent quarter.
"This award is really in recognition of the dedication and hard work of everyone at March Networks," said Peter Strom, President and CEO, March Networks. "We are very proud of this award and the fact that we surpassed $100 million in sales in our most recent 2009 fiscal year. We remain committed to becoming the global leader in our industry."
About March Networks
March Networks(R) (TSX:MN) is a leading provider of intelligent IP video and business analysis applications that enable organizations to reduce losses, mitigate risks and improve security and operational efficiency. The Company's advanced software suite includes enterprise-class video management, powerful analytics and comprehensive managed and professional services. Its software and systems are used by leading financial institutions, retailers, transportation authorities and other organizations in more than 50 countries. For more information, please visit www.marchnetworks.com.
This release contains certain forward-looking information, including expectations of future business. This information is based on the Company's current expectations and assumptions that are subject to a variety of risks and uncertainties that are difficult to predict and that may be beyond March Networks' control. Actual results could differ materially from those expressed in any forward-looking statements due to factors such as customer demand and timing of purchasing decisions, increased levels of competition, technological changes and the successful development of new products, dependence on third-party manufacturers, risks relating to intellectual property infringement claims, and other risks and factors identified in March Networks' public filings with regulatory authorities in Canada. March Networks assumes no obligation to update these forward-looking statements as a result of new information or future events.
* MARCH NETWORKS and the MARCH NETWORKS logo are registered trademarks
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SOURCE March Networks Corporation
For further information: For further information: Peter Wilenius, March Networks Corporation, (613) 591-8181, firstname.lastname@example.org