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Seeing Machines
- BY: Andrew Hore |
- POSTED: 21/07/2010 |
- COMMENTS: Add yours
For a long time Seeing Machines was a frustrating business with good technology and little in the way of revenues but now it is difficult to keep up with all its new contracts.
It has won two more contracts to fit DSS driver monitoring equipment at two North American open pit mines. They are with an existing client and cover 45 haul trucks. These are some of the orders that the company had said were delayed and now fall into the year to June 2011.
Seeing Machines designs integrated software and digital camera technology that tracks facial movement and reactions. DSS systems are devices fitted in vehicles to assess driver distraction and drowsiness.
House broker Daniel Stewart forecasts a profit of A$1.4m on revenues of A$9.4m in 2010-11. Seeing Machines has made a profit in the past but this will be the first substantial profit.
At 3.12p a share, Seeing Machines is valued at £12.7m.
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