2 Avigilon Finance Directors Out, In Addition to CFO

By: John Honovich, Published on May 13, 2014

Avigilon's stock has dropped more than 25% despite earnings meeting analyst estimates in the 3 days after Avigilon announced their CFO's exit.

Moreover, two Avigilon Finance Directors, in addition to the CFO, have also exited the company in the previous month.

In this note, we review these exits and the concerns that investors are raising about this.

********'* ***** *** ******* more **** **% ******* earnings ******* ******* ********* in *** * **** after ******** ********* ***** ***'* exit.

********, *** ******** ******* Directors, ** ******** ** the ***, **** **** exited *** ******* ** the ******** *****.

** **** ****, ** review ***** ***** *** the ******** **** ********* are ******* ***** ****.

[***************]

2 ********* ***

*** *** ********* ********* out *** ******** ** ********* ******** and ******** *** ****** *** ******** ** ******* ****** Viray, **** ****** ***** exits ** ******** *****, respectively, ** ****** *** 14 ****** ** *** company.

CFO "******" *********** **********

********, **** *** *** believing *** *** '******' explanation, ********* ** ******** we **** ************ **** and ******* ******.

***?

  • *****'* **** ** *********** explanation *** *** ***'* exit, *** ** *** announcement, *** *** ********'* call *** *** *** ** *********, ******* ******* ********* being ******.
  • *** **** ***** **** was **** ** *** "** ********** **** * ******** ****** *****." The '** ********** ****' phrase ** *** ***** (was *** ****** ***** the ***** ** *** exit ******?) *** ***** be **** ** * *** *******.
  • ** *** *** ****** to **** ** *** Avigilon ****** ** ****** him, **** ** ** had * ****** *****, they ***** **** ****** put *** ** ***** / **********.
  • ** *** ****** ***** was ****** **** *** to ***** ** ********* exit, ** ***** ** sensible *** *** *** ** make a ******** / ***** statement ** *** ********'* call ** ** ********* (such ** "** **** Brad **** ****** ****, etc.") **** ** **** to **** ********'* **** better. *******, **** *** happened.
  • ********, ** *** *** was ******* ** **** terms, *** ******* ***** be ******* ** ******* a ********* **** *** (like "********'* * ***** company *** * **** been ***** ** **** here"). ******* ** ********* being ****, *** *** did **** **** ** ****** *** ******** *******.
  • ********** *** *** **** the *** ****** *** earnings **** **** **** many ******** ** *** exit *** ******* ** the ********* ****** ******.

Investor ********

***** *** ****** ** the *** ****, *** lack ** ********** ******** for *** *********** *** the * ******** ********* directors *** ****** ****** the **** ****, **** has ****** *********** ******** concerns.

*** *** ****** ******* Avigilon's ***** ***** ***** run ** *** **** few ***** *** **** their *** ****** ****** rate **** *** ********.

*** ******* ** **** are ***** ********* ******** Avigilon’s ********* *******, ** light ** **** *********. Did * ******** ****** financial ******** ***** ** a ***** ******* **** were ****** *** **** enough, ******* **** ***** other ************* ** ** there **** ******* **** the ********** ********? ** is *** ****** **** that ******* ** ** weighing **** ********’* ***** price.

******

**********, ******** *** ******* products, ** ***** ** our*************************. *** *********, *** investors, ** ******* *** products / ******** ******** the ******* ****** ****** that ********* **** **** expecting *** ******** *** been *********.

*******, **** *** ******** people, ***** ***** *** the ********* ***** **** has * **** ******. One ** *** *** factors **** *** ************ Avigilon’s ****** ** ***** ******* to ***** ******* *** expansion, **** ** ********* *** ****** ** raises, ********* ***$*** ******* ************ ** ****. ***, those ****** ********* *** bought ** ~$**, *** down **%. ****, ****** employee ***** ******* *** underwater. ******* * ***** turnaround ****, ****** **** be ****** *** *** company.

******** *** *** ********** momentum ** ***** ***. Will **** ** *** turning ***** **, ** Avigilon’s *** **********, **** their ******* ******** ***** out *** ***** *** company’s ***** ** ******* in ***** *****?

 

Comments (8)

This makes one sick situation where anyone who holds onto their stocks dearly is also gunning for a former CFO man to be found somewhere 'under the weather'.

The further more farther under the better, you see, so others would flock to the stock like doves, because if we know that the CFO is really sick to death then he might be honest enough to not lie much after all. And this is the way a 'dead cat bounces' back for his tenth life.

There is so much that can be said about this entire affair, it is hard to find a place to start. I hear it from my rep all the time. buy buy buy. The stock is soaring. They are as interested in me buying the stock as they are the product. It sounds a little Amwayish to me when I hear it.

In my very seasoned opinion, the product is over-priced for the mid-market consumer. Avigilon is not in touch with the buyer because they don't talk to integrators or dealers. They talk at them. Unrealistic sales projections and expectations, difficult certification process, and frankley, a measure of arrogance.

They have clearly reached a saturation point.

If you have been around for a while you have heard the old addage...if it is too good to be true, it probably is.

"...and frankley, a measure of arrogance."

Totally agree with you Mark. Avigilon sales did a dog and pony at our office hoping I would spec their product on a few upcoming large camera projects. When I requested they provide us with a camera for our 8-manufacturer camera shoot-out, they declined stating they don't participate in shoot-outs...something along the lines of it's not fair to their competition...blah, blah, blah. Acting like it was beneath them. Way too arrogant for me. My response, "If you won't participate in the shoot-out, you won't be included on the spec. or invited to bid." They seemed fine with that...and so was I. Now that I think of it, it's been a few years since they've called on me. Maybe those sales people are gone, or maybe they feel there are other engineering firms who will spec their product. Either way, 'Don't call me, Avigilon. I'll call you."

did the same at our office. same style of salesman

the [REDACTED] is one.

sad story really we liked their stuff and were ready to use them to replace the newly bought out Exacq due to TYCO being a direct competitor

the sales guy killed the entire deal........ like it was beneath him to "chase us"

we invited him to us... LAME!!!!!....... matter of fact if a sales guy is not willing to let the potential 300+ deployments a year take a look indepth at the product he is a waste of a pay check.

on the opposite side Arecont reps visit every quarter and take the sales team and the support staff out to a nice steak dinner..... total flip from i'm in it for the cash that Avigilon had.

too big too fast.............................

they can have the best product on the market and have poor finacial officers and kill the company.........

we looked hard at them for VMS and cameras and the Powers that be were hesitant to say the least over the rapid growth and shamless salesmen

in the end they may have had a preminition on this company..........

I really like thier stuff and the encoders are cheap and work well with the VMS

in the end with all the Finacial peeps leaving they look more right every day....

shame if this kills them..... they have huge potential.....

will watch them closely.

in the end with all the Finacial peeps leaving they look more right every day....

And once Sales completes its acquisition of Finance/Accounting it will 'look even more right', for a while... But is that a good thing?

Could finance folks from VideoIQ have replaced them?

I do not think that's related. Certainly not for the CFO where they are actively looking for a new one from the outside.

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Most Recent Industry Reports

Axis HD Analog Encoder Tested on Oct 11, 2019
Two years after declaring "Everything is IP", Axis has released their first HD analog encoder, the P7304, with support for AHD, CVI, TVI, and SD...
Dahua Celebrates PRC 70th Wearing Communist Party Hammer and Sickle on Oct 11, 2019
Dahua celebrated the PRC's 70th anniversary with a video of various Dahua employees wearing China Communist Party hammer and sickle pins as shown...
Last Chance - Register Now - October 2019 IP Networking Course on Oct 10, 2019
Last Chance - Register Now - Fall 2019 IP Networking Course. The course starts next week. This is the only networking course designed...
Network Optix NxWitness 4.0 Tested on Oct 10, 2019
Network Optix released Nx Witness 4.0, proclaiming new features like a deep learning analytics metadata SDK, increased H.265 support, and UX...
HID Fingerprint Reader Tested on Oct 09, 2019
HID has released their first access reader to use Lumidigm optical sensors, that touts it 'works with anyone, anytime, anywhere'. We bought and...
ONVIF Suspends Dahua and Hikvision on Oct 09, 2019
Dahua and Hikvision have been 'suspended', and effectively expelled, from ONVIF, immediately following US sanctions being placed on the 2 mega...
Hikvision And Dahua Sanctioned For Human Rights Abuses on Oct 07, 2019
In a groundbreaking move that will have drastic consequences across the video surveillance market, Dahua and Hikvision have been sanctioned by the...
Avigilon H5A Analytic Cameras Tested on Oct 07, 2019
Avigilon has released its H5A analytic cameras, claiming to "detect more objects with greater accuracy even in crowded scenes." We tested the...
Crisis At China's Largest VMS Provider, Netposa, Now State-Controlled on Oct 07, 2019
NetPosa, which bills itself as the PRC's largest VMS provider, is in a crisis. The firm is pursuing huge unpaid bills from clients, and its...
Knightscope Sells Just 1 Net New Robot In 6 Months on Oct 04, 2019
For the first half of 2019, US government records show that Knightscope has sold just 1 net new robots ('machines-in-network'), inching up from 52...