Vizrt Reports Record First Quarter in 2007

Norway-based Vizrt Ltd. is reporting another record for revenue in its first quarter of operations in 2007.

The company's business soared to $19.9 million, compared to $12 million during the first quarter of 2006. This amounts to a 66 percent increase in revenue, of which 41 percent was organic growth, according to the Vizrt.

Company president and CEO, Bjarne Berg, said that Vizrt's media asset management products had been well received at the recent NAB and that the firm was working on revamping other company products to provide better small screen looks in connection with mobile video and IT-based applications.

"The outlook for Vizrt is dependent on how well we manage to integrate the MAM products (Ardendo) into the existing salesforce and to get enough specialists hired to answer to the worldwide demand," Berg said. "If we manage to do that, we believe that we will continue to grow in an existing pace."

For the quarter, ending March 31, net profit of $3.7 million was up 63 percent, compared to $2.3 million in the first quarter of 2006.