March Networks Revenue Plummets
In March's investor's call presentation [link no longer available], they disclosed that a massive fall in US revenue of 37% drove the decline. This was partially offset by a robust 56% growth rate in Latin America. The much publicized 'loss' of the Wal-Mart account did not drive the revenue decline. Indeed, Wal-Mart revenue was a higher percentage this quarter than a year ago (16% this quarter vs 11% a year ago).
March is not alone with accelerating declining revenue. In the last quarter, revenue declines increased for Tyco's security products group and Axis. On the contrary, DVR supplier Techwell's revenue decline diminished relative to earlier in the year.