www.seeingmachines.com
Seeing Machines is an award winning technology company with a focus on vision based human machine interfaces. Seeing Machines technology platform is based on world-leading computer vision processing technologies that allow machines to see and track human faces and certain facial features. These technologies enable the development of new cutting edge products and applications, ranging from devices that improve road safety & save lives, to those that help manage eye disease and prevent loss of eyesight.
The company’s focus is on deploying its computer vision technologies, worldwide, in:
- Driver/operator safety products for transport markets through the DSS product range;
- The TrueField Analyzer® (TFA) product for vision testing devices for healthcare markets;
- New products in a range of markets including sports, entertainment, robotics and security through our faceAPI product; and
- Human performance measurement through our faceLAB® product.
Seeing Machines shares rise 12 per cent as it unveils two new deals for driver safety system
Seeing Machines (LON:SEE) shares jumped 12 per cent after the company revealed it has been awarded contracts to install its DSS driver monitoring equipment in the haul truck fleets at two North American open-pit mines.
The deal is for the fit out of 43 vehicles for an existing client. There were no other details.
Nick Cerneaz, CEO of Seeing Machines, said: "We are very pleased to be announcing these two new DSS contracts in North America.
“Our DSS pipeline continues to grow and includes opportunities in a number of countries across North and South America, Africa and Asia-Pacific and we will announce further deals at the appropriate time."
The DSS, or driver safety system, monitors the driver of a vehicle for signs of distraction and fatigue that can lead to accidents.
It is also the product that will lead the company’s drive towards profitability in the current financial year.
Mining giant BHP Billiton (LON:BLT, ASX:BHP, NYSE:BHP & BBL) is a customer of Seeing Machines, as is America’s Freeport McMoRan (NYSE:FXC).
“The DSS is what’s transforming our business,” chief executive Nick Cerneaz told Proactive Investors recently.
“The contracts we are getting are driving a very big change. In the first month of this new financial year we had exceeded the revenue for the entire previous year for the DSS business.
“This is a fairly transformational change. And it really is driving our belief that this year is going to be quite different to last year.
“What it comes out to be, well only time will tell. But it is a transformational year.
“Using last year’s numbers as a guide to this year is going to leave people lacking in detail.
“It is a different year and a different business now. The business is moving along very well.”
The company’s broker Daniel Stewart says revenues for the 12 months to June 30 2011 will jump US$5.2 million to US$9.2 million. This would give a pre-tax profit of US$1.4 million compared with a loss US$1.7 million.
At 9am, the shares were up 0.38p at 3.38p.
