In late February I wrote an article entitled, "Increase in Terrorism and Violent Crime Boosts Demand for Video Surveillance Provider".
One of the most emotional issues facing the United States now is homegrown terrorism and rampant violence. Recently we witnessed mass shootings in Chaleston, San Bernardino, Orlando and Dallas along with increased violence between civilians and law enforcement. Although its sad to see the state of affairs and unrest, astute investors should realize the growth of video surveillance which has doubled in size over the past five years is now reaching $30 billion in 2015.
There is a company I highlighted in that February article Gatekeeper Systems (GSI.V or GKPRF) which I believed would see great demand for their video products. Today they announced news that they saw a huge boost in profit and revenue in the 3rd Quarter. Their stop arm camera business is beginning with its first five year revenue sharing contract with the Jones County School District in Georgia. The first citation was already issued "Gatekeeper will receive 50% of the revenue from each citation issued with 25% shared with the school district and 25% shared with Jones County. Stop-arm violation fines in Georgia are $300 USD for first time offence, $750 USD for second time offence and $1,000 USD for each subsequent offence. The Company anticipates receiving proceeds from ticket citations prior to the end of the current fiscal year." This could be a huge growth area as there are around 14 million stop arm violations annually and 13 states have already passed legislation that allows video enforcement.
Doug Dyment, President and CEO commented, “The third quarter revenue increase and profitability are indicators that we are successfully executing on our business strategy. During the third quarter we continued to allocate more resources to our base business in an effort to achieve profitability while at the same time we continued to move forward finalizing software features for our Jones County revenue sharing contract in Georgia. The Jones County project is our first five-year revenue project. We executed on our plan to begin issuing citations before the summer break. We currently have 20 additional stop-arm camera projects in the evaluation phase, and are in the process of negotiating several revenue sharing contracts.”
Dyment also added, “During the third quarter we were successful at executing delivery of products caused from the large backorder, which is directly attributed to the efforts of all Gatekeeper employees who have showed a strong commitment to the Company for many years. On behalf of management and our shareholders we thank them for their efforts and look forward to growing the Company together.”
See the full news release on Gatekeeper's (GSI.V or GKPRF) by clicking here...
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