2 Avigilon Finance Directors Out, In Addition to CFO

Author: 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.

********'* ***** *** ******* **** **** **% ******* ******** ******* analyst ********* ** *** * **** ***** ******** ********* ***** ***'* ****.

********, *** ******** ******* *********, ** ******** ** *** ***, have **** ****** *** ******* ** *** ******** *****.

** **** ****, ** ****** ***** ***** *** *** ******** that ********* *** ******* ***** ****.

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

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

*** *** ********* ********* *** *** ******** ** ********* ******** *** ******** *** ****** *** ******** ** ******* ****** *****, **** ****** ***** ***** ** ******** *****, ************, ** months *** ** ****** ** *** *******.

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

********, **** *** *** ********* *** *** '******' ***********, ********* to ******** ** **** ************ **** *** ******* ******.

***?

  • *****'* **** ** *********** *********** *** *** ***'* ****, *** in *** ************, *** *** ********'* **** *** *** *** ** *********, ******* ******* ********* ***** ******.
  • *** **** ***** **** *** **** ** *** "** ********** **** * ******** ****** *****." *** '** ********** ****' ****** ** not ***** (*** *** ****** ***** *** ***** ** *** exit ******?) *** ***** ** **** ** * *** *******.
  • ** *** *** ****** ** **** ** *** ******** ****** to ****** ***, **** ** ** *** * ****** *****, they ***** **** ****** *** *** ** ***** / **********.
  • ** *** ****** ***** *** ****** **** *** ** ***** an ********* ****, ** ***** ** ******** *** *** *** ** make a ******** / ***** ********* ** *** ********'* **** ** TV ********* (**** ** "** **** **** **** ****** ****, etc.") **** ** **** ** **** ********'* **** ******. *******, none *** ********.
  • ********, ** *** *** *** ******* ** **** *****, *** company ***** ** ******* ** ******* * ********* **** *** (like "********'* * ***** ******* *** * **** **** ***** to **** ****"). ******* ** ********* ***** ****, *** *** did **** **** ** ****** *** ******** *******.
  • ********** *** *** **** *** *** ****** *** ******** **** have **** **** ******** ** *** **** *** ******* ** the ********* ****** ******.

Investor ********

***** *** ****** ** *** *** ****, *** **** ** supporting ******** *** *** *********** *** *** * ******** ********* directors *** ****** ****** *** **** ****, **** *** ****** significant ******** ********.

*** *** ****** ******* ********'* ***** ***** ***** *** ** the **** *** ***** *** **** ***** *** ****** ****** rate **** *** ********.

*** ******* ** **** *** ***** ********* ******** ********’* ********* numbers, ** ***** ** **** *********. *** * ******** ****** financial ******** ***** ** * ***** ******* **** **** ****** not **** ******, ******* **** ***** ***** ************* ** ** there **** ******* **** *** ********** ********? ** ** *** latter **** **** ******* ** ** ******** **** ********’* ***** price.

******

**********, ******** *** ******* ********, ** ***** ** ****************************. *** *********, *** *********, ** ******* *** ******** / business ******** *** ******* ****** ****** **** ********* **** **** expecting *** ******** *** **** *********.

*******, **** *** ******** ******, ***** ***** *** *** ********* stock **** *** * **** ******. *** ** *** *** factors **** *** ************ ********’* ****** ** ***** ******* ** ***** capital *** *********, **** ** ********* *** ****** ** ******, ********* ***$*** ******* ************ ** ****. ***, ***** ****** ********* *** ****** ** ~$29, *** **** **%. ****, ****** ******** ***** ******* *** underwater. ******* * ***** ********** ****, ****** **** ** ****** for *** *******.

******** *** *** ********** ******** ** ***** ***. **** **** be *** ******* ***** **, ** ********’* *** **********, **** their ******* ******** ***** *** *** ***** *** *******’* ***** to ******* ** ***** *****?

 

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

ADI's Financials Revealed + W-Box Growth Priority on Oct 15, 2018
  ADI is one of the most powerful distributors in the security industry but how big are they? How much profit do they make? How much do they sell...
Dahua Face Recognition Camera Tested on Oct 15, 2018
Dahua has been one of the industry's most vocal proponents of the value that AI creates: As part of this, Dahua has released a facial...
Amazon Touts Home Security Market Disruption on Oct 15, 2018
Amazon is coming for ADT and all of home security. Indeed, Amazon is advertising this as, in their own words, calling home security a: Inside...
Higher Power PoE 802.3bt Ratified, Impact on Security Products Examined on Oct 12, 2018
Power over Ethernet has become one of the most popular features of many video, access, and other security products. See our PoE for IP Video...
"New Zealand Govt Uses Chinese Cameras Banned In US", Considers Security Audit on Oct 12, 2018
Newsroom NZ has issued a report: "NZ Govt uses Chinese cameras banned in US": This comes after the US federal government banned purchases of...
Mysterious Patent Troll 'Secure Cam' Targets Industry, Sues Hanwha, Hikvison, JCI, Panasonic, More on Oct 11, 2018
A company named "Secure Cam," who is actively hiding their ownership, has acquired a slew of video patents and is systematically suing video...
Unfixed Critical Vulnerability In Millions of XiongMai Devices Disclosed on Oct 10, 2018
XiongMai, one of the biggest OEMs alongside Dahua and Hikvision, has suffered a critical vulnerability impacting millions of their devices. This...
Honeywell Hides Selling US Gov Banned Chinese Video Surveillance on Oct 10, 2018
Honeywell hides selling US government banned Chinese video surveillance as their own 'Honeywell' products, deceiving buyers and putting US security...
Door Hinges Guide on Oct 10, 2018
Some of the trickiest access control problems are caused by bad door hinges. From doors not closing right, to locks not locking, worn or warped...
Default Passwords Outlawed in California, US To Follow on Oct 09, 2018
UPDATES A new California bill aimed at improving security for connected devices has been signed into law. The law takes aim especially at...

The world's leading video surveillance information source, IPVM provides the best reporting, testing and training for 10,000+ members globally. Dedicated to independent and objective information, we uniquely refuse any and all advertisements, sponsorship and consulting from manufacturers.

About | FAQ | Contact