- Seeing Machines expects to achieve record revenue for the year to 30 June 2015. With a particularly strong Q4 sales result, FY revenue is expected to be about A$18.9m, up 12% on the year.

This figure excludes other income research and development tax credit of AUD 2.1 million as previously reported in the Company's half year results.

This revenue was based largely on sales of products and services to the mining industry, with some sales of the Company's new Fleet product in the fourth quarter. The Company expects Fleet sales to become a much more significant component of ongoing sales revenue in the new financial year.

In the year to 30 June 2015 the Company shipped approximately 1,700 units, across the mining and Fleet products (FY2014: 1,059 units), another record for the Company.

In parallel, heavily driven by automotive and aviation sector opportunities, the Company made major advances in core technology performance and its commercial position in both fields.

The Company expects to report financial results for the full year in line with market expectations. Consistent with its past practice, the Company expects to release unaudited financial results by the end of August and audited accounts in September.

In order to continue to drive sales, the Company is pleased to announce the appointment of Mr Mark Penman as the Company's new Senior Vice President, Sales.

Story provided by