Seeing Machines
Seeing Machines is engaged in the research, development and production of advanced computer vision systems for research in human performance measurement, advanced driver assistance systems, transportation, biometric acquisition, situational awareness, robotics and medical applications. Seeing Machines most advanced product is called faceLAB and provides head and face tracking, eye, eyelid and gaze tracking for human subjects within a 3-dimensional volume using a completely non-contact, video-based sensor.
Seeing Machines Making Transition into a More Commercially Focused Company
At its AGM, Seeing Machines (AIM: SEE) highlighted its previously reported 19% increase in full-year revenues and said it is progressing in its transition to a much more commercially focused company. The computer vision systems developer held AGM earlier today in Canberra, Australia.
Aside from the company’s revenue growth, Seeing Machines CEO Nick Cerneaz acknowledged that 2009 has been a difficult year, but emphasised the technology company’s good pipeline of opportunities. Specifically Seeing Machines took the opportunity to update investors on three key commercial developments among the group’s product applications.
Firstly the company said its DSS (Driver State Sensor) technology has made progress in strategic mining and commercial transport sectors, with significant opportunities in the sales pipeline. Seeing Machines has focused on extensive marketing and business development efforts in these sectors through the financial year and generated sales through large scale pilot deployments within resource and industrial operations.
A second major development was the launch of the TrueField Analyzer (TFA), a device for ophthalmic vision testing initially focused on the glaucoma market. The TFA is available initially on limited release in the US.
The new faceAPI product represents the third area of development. Due to the extensive range of applications for the company’s head and eye tracking technology, Seeing Machines has developed a software development platform to enable third party developers to embed it’s technology in third party applications.
Seeing Machines said the software licensing and royalty based business model has exceeded its budgeted revenue expectations in its first full financial year since its release. The company is hopeful that it will convert a number of opportunities into new production licenses for the faceAPI and will announce further progress to the market in due course.
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Other Seeing Machines articles
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23/09/09 Seeing Machines seeing signs of recovery, full-year revenue rising
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05/06/08 Seeing Machines has profits in sight at last
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23/11/06 Seeing Machines eyes up big growth opportunities
Other Seeing Machines news
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08/02/10 Seeing Machines projects successful future for DSS, in discussion with distribution partners over TrueField Analyzer
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06/11/09 Seeing Machines names non-exec William Mobbs new chairman as Muir steps down
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26/10/09 Seeing Machines launches TrueField Analyzer glaucoma detection system as planned
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14/10/09 Seeing Machines discusses eye monitoring technology for drivers, and a glaucoma detection device
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21/05/09 Seeing Machines founders take over shares held by Jats Technology
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11/03/09 Seeing Machines makes maiden interim profit, to launch FTFA product mid-2009
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18/02/09 Seeing Machines restructures business to tackle downturn, but sees interim profit
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28/01/09 Seeing Machines confident about future, faceAPI product meets with substantial interest
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27/11/08 Seeing Machines well funded, has pipeline of promising products
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23/09/08 Seeing Machines reports maiden profit