Seeing Machines (AIM: SEE) results as anticipated as ramp up continues, let’s hope they succeed
Following last week’s news of its significant deal with Caterpillar, the operator monitoring Group has announced results for the year to 30 June 2015 broadly in line with expectations. The anticipated big ramp up in development spending probably exceeded the market’s expectations but we remain of the view that this business needs to push on with the commercialisation of its technology, rather than meander along and watch their potential be snatched from them, which seems to be the case with many AIM businesses. They have the funding in place so need to spend it!
The full Annual Report is worth a read to gain a better understanding of the Group’s positioning and current focus http://www.seeingmachines.com/investors/ although there are a few too many glossy pictures and a bit too much ‘management speak’ for us, and we aren’t sure a whole page should be devoted to ‘Company Values’! The Group’s products enhance operator performance and safety through real-time monitoring and intervention which are enabled by intelligent sensing technologies and vehicle integration. Putting things more bluntly their technology saves lives. The technology clearly has huge potential across a vast number of sectors and applications having now proven…