Hikvision’s 2017 Annual Report Confirms 31 Percent Revenue Growth
Final numbers are in, and Hikvision’s 2017 annual report confirms solid year-over-year (YoY) revenue growth for 2017 of 31.22 percent.
Sales revenue is up from $5 billion (RMB ¥31.9 billion) achieved in 2016 to $6.6 billion (RMB ¥41.91 billion) in 2017. Operating profits increased 26.77 percent, per the Hikvision press release. Additionally, EPS (earnings per share) increased 25.43 percent in the reporting period, to $.16 (RMB ¥1.03) in 2017 compared with $.13 (RMB ¥0.822) in 2016.
Investment in R&D systems and processes, customized solutions for vertical industry sectors, and innovative technologies are cited as drivers for the company’s robust earnings.
In a prior announcement of preliminary 2017 numbers, Jeffrey He, president of Hikvision USA Inc. and Hikvision Canada Inc. said, "Hikvision is expanding in North America due the efforts of our extensive network of sales and engineering professionals, who are dedicated to working hand-in-hand with integrator partners to win business. With knowledgeable support in local markets, backed by Hikvision technological advances, we anticipate continued growth in 2018.”
To read the entire press release, click here.