LONDON (ShareCast) - Vislink returned to profit in 2012 as the technology group achieved strong performance in the broadcast and surveillance sectors.

Adjusted operating profit came to £31.1m in the year ended December 31st 2012, compared to a loss of £0.2m in 2011.

Revenue came to £57.2m, an 13.7% increase from the prior year’s £50.3m.

The group remained debt free, with net cash of £8.1m.

The company, which supplies video technology to the broadcast and surveillance markets, said the two segments delivered growth, particularly in the US and Western Europe.

During the period, the company reduced its costs while maintaining investment in sales channels and research and development.

Gigawave, technology for broadcast television, live streaming, motorsport and security applications, was fully integrated into the business throughout the year and its product range benefited broadcast and surveillance.

While the order intake fell 5.1% to £50.1m, the firm believes the pipeline in 2013 looks promising following the development of new products including lightweight satellite terminal, MSAT and cellular based product, LiveGear.

"[Last year] was a year of sustained profitable growth for the group," said Executive Chairman, John Hawkins.

"We achieved our objective of improving profitability with cost reductions whilst continuing in our investment in sales channels and research and development.

"We have increased revenues in both broadcast and surveillance and delivered a substantial increase in profit over 2011."

Shares fell 5.30% to 31.25p at 11:13 Monday.

RD

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