MARCH NETWORKS - explosive growth from Digital CCTV

Crystalball, I agree, it is a good market to be in and there is more than enough room for several players.

Rather than me selling the share to you it would be worth your while having a skim through the thread (it's not that long), of particular interest should be the video links and, if they are still around, the webcasts from results to get a feel for the co. and the management.

I think the last results showing March's 9th consecutive double digit growth is probably one of the "key points", followed shortly after by the announcement of another major contract win.

Although the shares have risen very sharply I think this indicative of things to come rather than an initial spurt from a young company, the contracts March tends to win appear to be BIG, they have proved themselves in retail and banking (there main stay) with, if rumours are to be believed, Wal-mart as their main customer. Whoever the main customer is, they account for some 40% of revenues (I think or iro) which could be worrying but given the nature of the contract (replacing old equipment with ip networked solution) and the fact that they are only 15% deployed with this customer seems to suggest a healthy revenue stream for some time to come.

I also like the fact that March has not overplayed the significance of surveillance and it's link to the various terror acts worldwide, I believe the business they are making at the moment is outside of that sphere yet with the potential to capitalise on it when the decisions are made to upgrade equipment in the public sector, namely transport. The transport sector appears to be picking up for them (note recent contract with Union Pacific) and Europe has hardly been touched (been too busy at home! :O). Interestingly March is one the key exhibitors in the upcoming Railway Age security expo at the end of this month ( ) with keynote speaker Tim O'Toole MD of London Underground. I think this event could be very important for March in making some big gains in the transport sector and would be very suprised if another big contract were to not come at some point as a result.

March also seem to be looking beyond straight forward "surveillance", the package with UP allows for the monitoring of audio as well as throttle and brake usage etc. a kind of comprehensive insidious big brother type monitoring of the workforce and equipment, it is this kind of data gathering, control and deciphering through their own software which I think is/will be particularly attractive to customers updating or choosing new systems.

Finally, take a look at their website (address at top), there really is a wealth of information about their products and "case studies" for each sector with a selction of their (95% satisfied) customers.

I don't know where this will go short term nor am I particularly bothered and barring some unforseen bad news I wont be selling any throughout the next year.