Dallas, Texas 09/27/2013 (Financialstrend) – ClearOne Incoprorated (NASDAQ:CLRO) stock has managed to show 100% appreciation in its value compared to one year back. The company has grown from strength to strength on the back of strong sales which has increased quarter or quarter leading to a steady cash flow which is allowing the company to post healthy margins of close to 58% gross margin and profit margin for the trailing 12 months. The increased sales of CLRO are directly related to the aggressive market expansion plan that it has been pursuing over the past year.
Its August 21 announcement was one such example. It has tied up with Enkay Technologies to execute a new distribution agreement through which the company will be able to offer its top of the drawer video conferencing solutions to the ever expanding Pan India market. The company believes that through this agreement, they will get quick access to multiple verticals of the Indian Market and get their solution ported on other third party applications
The Indian Information Technology sector which has business interests across the globe has started to leverage the advantages of video conferencing in a big way over the past few quarters. As per a Gartner 2012 report which CLRO has sighted, the pan India demand for video conferencing infrastructure has grown by an average of 39% over the past couple of years. ClearOne is focused on gaining a significant market share of this rapidly increasing market by taking on entrenched competition like Polycom Inc (NASDAQ:PLCM) which has cornered a 50.2% of market in India as of 2012. (latest Frost & Sullivan report).
ClearOne solution focuses on providing an integrated and seamless platform which will weld together its professional audio with video technology as an “any time, anywhere” video conferencing solution which is compatible on mobile devices as well as desktops.