LOQ31 Oct 2012 13:02
Operational achievements
This year has seen Lo-Q deliver on a number of important operational milestones. Strong sales momentum has continued, particularly in new product areas and with new customers. The Company has also made further progress in securing the partnerships and trials that will support its future expansion in to new markets and verticals.
The Company's Q-band water park product, for example, has now been successfully installed in 11 water parks in North America and has seen encouraging increases in customer adoption during the summer as park guests became increasingly familiar with the product and its benefits.
Progress with Q-smart - the Company's new smartphone-based system - has also been encouraging for two reasons. First, this year has seen Lo-Q secure its first Q-smart customer in the shape of an installation at Walibi Holland, one of The Netherlands' top theme parks. Secondly, this particular Q-smart agreement has opened the door to a new, top-tier customer relationship for Lo-Q with Compagnie des Alpes: the park's owner and a major player in the tourism and leisure industries in Europe.
This new relationship is one example of the good progress Lo-Q has made this year both in building and converting its sales pipeline, particularly within large global operators. A further example came earlier this month in the shape of an initial deal signed between Lo-Q and a new, significant US theme park operator customer. The Company continues to believe that in many cases it has a significant, long-term opportunity to expand its footprint within this global operator community.
Lo-Q has also continued to focus this year on the opportunity open to it in the Asian market place: the fastest-growing theme and water park market globally. To that end, in April Lo-Q signed a landmark partnership agreement with Sanderson Group - an Australian multi-national corporation with over 23 years' experience in delivering high quality, themed tourist attractions - that will see both firms collaborate on the promotion, sale and support of Lo-Q's products in the region.