“Our third quarter results represent the second largest revenue quarter in corporate history,” said Jack Gin, President and CEO of Extreme.
He said the company had continued to follow its business plan and that two new products, REG-X and Black Diamond, had been launched this quarter with very encouraging results.
“CCTV is recognised to be a highly valued component of security and we continue to strengthen our position in an industry that is converging, consolidating and driven by the demand for high performance products,” he said.
“We are building on our global brand presence, engineering expertise and sales channels. All of these factors bode well for Extreme CCTV.”
Despite the encouraging growth in revenues, Extreme’s spending has seen its cash position fall from $4.8 million on March 31, 2007 to $4.7 million on June 30, 2007.
The company’s rising sales and marketing expenses, which hit $3.5m for the nine-month period to June 30, are blamed on the expansion of its sales force and the acquisition of Forward Vision.
Forward Vision, which was acquired by the Canadian company in 2006, achieved sales of $3.1 million for the third quarter, a 7.1% increase over the same period of the prior year and a 35.1% increase on a year to date basis.
Extreme, listed as TSX:EXC, reported earnings of $0.02 per share basic and $0.02 diluted.