After Element Labs completed the 274sq.m City of Dreams casino project in Macau in June, Cobra has sold into numerous other applications around the world, including Times Square in New York. In addition, Element Labs has experienced increased demand for its industry standard products such as Stealth and Versa Tubes.
Element Labs products have recently been deployed for Britney Spears' Circus tour, the Bay Adelaide Centre in Toronto, the Eurovision Song Contest Moscow 2009, the Hard Rock Café in Orlando, the New Orleans Essence Music Festival 2009 and the 2009 Grammy Awards. Fixed installation projects include corporate headquarters, theatres, casinos, cruise ships, sports stadiums, restaurants, mobile trailers and retail store fronts. A popular segment around the world is TV studios, where Element Labs has seen a wide range of its products being deployed.
Total revenue in Q3 quadrupled compared to Q2, and bookings for the first month of Q4 exceeded those for all of Q3. New business in the last couple months has come from rental agencies in the US, Canada, Belgium, UK, Italy, Denmark, Germany, Japan and Mexico. To extend its market channels the company has signed distribution agreements in the US, Canada and Australia with LEDSource, SF Marketing and Bytecraft respectively.
"We've seen a great response to Cobra. As the lightest, thinnest and easiest to deploy video platform in the market, it is extremely well-suited to many applications in rental, architecture and digital media. The fact that it consumes a fraction of the power of any competitive product and eliminates the need for fans or air conditioning is extremely important in fixed installations and achieves customers' commitments to green alternatives," says Marc van Eekeren, VP of sales and business development. "Cobra's V8 virtual pixelisation gives customers the benefit of superior video quality. Complemented by Cobra C11, customers have a choice if they want the higher resolution - both at very competitive prices," he adds.
"C11 has gotten a strong response in the entertainment market where we're starting to book very large orders" said Barbara Nelson, President and CEO. "We're also seeing an increased demand for our Helix product especially in architectural installations, such as the voestalpine AG Headquarters, where customers want the creative lighting flexibility combined with powerful pixel-level mapping. The strong market acceptance of our new products was an important consideration in Expansion Capital's continued financial support."
(Lee Baldock)
