Burnaby's Extreme CCTV Inc. (TSX:EXC) has reported a 57% jump in revenue for its fiscal year ending September 30, 2007, as it increased to $42.6 million compared with annual revenue of $27 million in 2006.
Strong North American sales and revenue from the company's August 2006 acquisition of U.K.-based Forward Vision contributed to this year's stronger results.
The fiscal year was also the company's third year of profitability as net income rose 36% to $2.4 million from $1.8 million in 2006.
Extreme CCTV recently announced it was being acquired by Robert Bosch GmbH for $93 million. The Stuttgart, Germany-based company hopes the deal will strengthen its market share in the U.K., the U.S. and Canada.
Extreme CCTV, which employs 74 people in B.C. and more than 140 worldwide, will become a subsidiary of Bosch Security Systems, which employs 10,300 people at 45 locations worldwide.
Extreme CCTV's share price range during the past week: unchanged at $3.90; 52-week high: $4.40; 52-week low: $2.75.