NAV revenue up 10 percent in 2012
BRICK, N.J.—North American Video, an integrator based here, reported a 10 percent revenue increase in 2012, a result of its resurgent gaming business and growth in some new verticals.
The company expects the trends to continue and to be led by gaming, a market that struggled periodically during the recession.
“Continued growth in our core gaming business is being driven by a combination of our expanded offerings and new jurisdictions as states approve or expand gaming to raise tax revenues,” Laurie Smock-Jackson, VP sales, North American Video, said in a prepared statement. “Many of the capital improvements earmarked for video surveillance and security system improvements were delayed during the height of the recession.”
NAV completed three marquee gaming projects in 2012. It installed a 400 IP camera/access control system at Valley Forge Casino Resort in Pennsylvania; an IP video surveillance and security system at the Capri Casino in Cape Girardeau, Mo.; and an 800 camera IP video/access control system at a Maryland casino.
Jason Oakley, president and CEO of NAV, said the company’s gaming business remains at “the heart of what we do.”
That reputation, he added, is in part responsible for the company’s success in branching out into other verticals. Almost half NAV’s revenue last year came from customers outside the gaming industry, in markets such as the commercial sector, banking and finance, higher education, transportation and government, the statement said.
Also behind NAV’s expansion beyond the gaming market is the company’s prowess in integrated systems, and its business with systems offering access control, perimeter security, license plate recognition, car counting, people counting and retail POS integration, according to the statement.
“More than 70 percent of NAV’s current projects include integrated technology offerings beyond video,” Oakley said.