Seeing Machines

Press: 23.06.11: -0.62, (1.88) Press: Seeing Machines fell after a trading update disappointed investors, as it warned of a delayed... read more

Press: 23.06.11: -0.62, (1.88) Press: Seeing Machines fell after a trading update disappointed investors, as it warned of a delayed installation that will cause full year results to fall below market expectations. The timing of this set-back is particularly unfortunate, as current chief executive Nick Cerneaz is set to leave the firm next month. Despite the miss, Seeing Machines emphasised that it remains confident that it will deliver growth through the 2012 financial year ? helped by the receipt of delayed revenues as well as a series of orders won in the current period. Source - Mail

31.03.11 :-0.37, (3.38) Seeing Machines Ltd., which sells its driver monitoring system to the mining industry, hopes to begin supplying... read more

31.03.11 :-0.37, (3.38) Seeing Machines Ltd., which sells its driver monitoring system to the mining industry, hopes to begin supplying the much larger commercial road transport market within the next 18 months, the firm?s chief executive said. Seeing Machines has developed technology that tracks a person?s facial movements and is used to prevent accidents by monitoring the drowsiness and concentration of drivers. Revenue from the system, called DSS, rose sharply in recent months as major mining companies such as BHP Billiton PLC (BLT.LN) installed the technology in a growing number of heavy vehicles. For the six months to Dec. 31, DSS revenue was up more than seven times on the same period a year earlier, and at 2.60 million Australian dollars ($2.69 million) represented well over half of group revenue. CEO Nick Cerneaz expects revenue from the mining sector to continue to grow strongly, but said the transport industry offers the potential for volumes that "vastly exceed mining." Once DSS can be produced more cheaply the firm hopes to begin selling to the haulage industry, which has tighter margins and less cash than mining, Cerneaz told Dow Jones Newswires. The firm is investing heavily in research and development to bring the cost of DSS down, and Cerneaz said he expects the price to be right for the transport industry within roughly 18 months. "We have had plenty of experience of trying to sell into that market over the last two years, but the price point excludes us at the moment," Cerneaz said. In the meantime, Cerneaz believes the firm can sustain its growth in the mining sector, particularly by winning new customers in Latin America and southern Africa, where Seeing Machines currently has many pilot schemes for DSS.

Seeing Machines Ltd., a developer of technology that can track human facial movements, said it plans to significantly reduce the cost of... read more

Seeing Machines Ltd., a developer of technology that can track human facial movements, said it plans to significantly reduce the cost of its driver fatigue and distraction management system by fiscal 2012. "The target for us is a very significant reduction in product cost," Chief Executive Nick Cerneaz told Dow Jones Newswires. "Our efforts at the moment are on building a next-generation product and the camera part of the system is going through a lot of redesign," he said. Seeing Machines? current system typically costs about $10,000. It didn?t say what the new, lower price would be. However, costs will be saved on materials used to make the product, as the company is developing a small cylindrical camera to replace the current larger box-style format. The new design is in trial and Cerneaz said the smaller product--which will offer sturdier protection against things like liquid spillage--will also reduce the cost of fitting and servicing. "It gives us a much better opportunity to generate big margins," he said. The unit, which is built into the cabs of trucks, detects changes in the eye position of a driver. If it senses a driver is tired it sends a message to a central control room, which can contact the driver and take them off the road to prevent any accidents.

the developer of advanced computer-based imaging software systems reports maiden full-year pretax profit. For the year ended June 30... read more

the developer of advanced computer-based imaging software systems reports maiden full-year pretax profit. For the year ended June 30 2008, the company unveiled pretax profit of A$326,744, against a loss of A$466,953 last year. "The company is making encouraging progress, has generated substantial revenues and moved into profitability over the last financial year," says Michael Sawh, an analyst at house broker SVS Securities. "We expect further advancement in the top and bottom lines to be largely driven by the DSS product line," he adds. The Driver State Sensor (DSS) product uses face tracking techniques to deliver information on operator fatigue and distraction. In March, Seeing Machines signed a licence agreement with Dycom, a U.S. specialty contracting services company with a fleet of about 10,000 vehicles, for the use of the product.