ADI Gross Profit Margins "Very Strong", Q1 Results + Hikvision Risk

By John Honovich, Published May 05, 2022, 11:15am EDT (Research)

******* *** ****** ********* ********* ******* bolstered ************ ** ********* ** ***.

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**** *******, *** ******* ********* ***** profit ******* ** *** ** ** "very ******" ***** ******** ****** ** private ******* *****.

****** **** ****, ** ******* ***** financials, ****** ****** *** *** **** (plus *************) **** *** *** ** the ******** ******* **** *** ** Hikvision.

Gross ****** ******* Up * ******

***'* ***** ****** ******* **** ** 2 ****** **** **** ****, ***** is ***** **********:

*** ***** ****** ****** ** *** first ******* *** * **** ****** 19.2%, ** **** **.*% **** ****, reflecting ******** ******* **** ******, ********* private ****** ************ *** *** ****** pricing ***********.

"****** ******* ***********" ********* ******* **** a ****** ** **** ** ************ pass ***** ***** ********* ** *********, though *** *** *** *********.

Private *********

** *** ********'* ****, ******* ******* emphasized *** ********** ** ******* ******** for ******* *** *******:

*** ********* ** ****** *** ******* brand *********, *********** **** ** *** SKUs ** *** *******, **** ** extensive ******* ** ****** *************. ******* brand *******grew **** **% compared with first quarter 2021 at very ********* ******

***'* ******* ******* **** *%, ** private ****** **** ** ** **** level. *******, *******/*** *** *** ****** out **** ********** ** ******* ***** from ******* ********.

*** "**** ********* ******" ***** **** private ******* ****** *** ********** ******* far ** ****** ** ***** ******* 19.2% ******, ****** *** *** *** disclose *** ******** ******. *** ***** reasonably ** ********** ** ** **% gross ******* ** ***** ******* ******* products.

**** ** ****, **** ******* **** ******, **** emphasize *** ********** ** ******* ********:

*** *** *** **** ****** ** 25%-35% ***** **** **** *** **-***** brand.

**** *******'* ******* **** **** *** is ********* **** ****** ***** **** set * ***** ***.

W-Box *** *** *******

**** ** ****, *** ******* **** "W-Box", *.*., *** *****-******* *****, *** more ******** *** ******** ** "*******". ADI *** ***** ************, *********, *********** ***** ********* *** ***** ********.

Hundreds ** ******** ** ******* ***** *****

** ******** **** ** ***** ******** of ******** ** ******* ** ****** sales *** ******* ******** ******** ** ADI. *** *******, ***'* **** ****** revenue *** $*.* *******.

*** ********* ** ********** ** ********* smaller ******* **** **** ** *** for *** ****** *** **** ************. Delivering **** ***** *** ******* ******* products ** ********** ** **** *** delivers ************* **** ******* **** ***** manufacturing ********.

Hikvision ****

*** *****-**** **** *** ***** ** from *********, ***** *** **'* ****** report ** * ********* **** *** on *********. **** ***** ******* *** of ***'* ******* ******** *** ****** Hikvision ** **** **** *** ********* and ******* *** *** **** ****** of ********* *** **** ********* ** buy ********* ** *** **** *** years, ***** *** ******* ****** ** restrictions.

** *** ******** ****, ** ********* was ** *********, **** ***** ** an ********* *********** *** *** ** steer ******* ***** ** ***'* *** white-labeled ******** ** *** ***********.

*******, *** ******* **** *** ********* these ******* ***** ***** ** ****-**** support *** ******. ** ** *** thing ** **** ****** ** ********** white *******, ** ** ******* *** systems **** **** ******** ********, ***-**** support ******, ***. ** **** ** interesting ** *** *** **** ********** contribution ******* *** ********* ****** ******-**** support *** ******** ****** **** ****.

Backlog ** *****

******* **** ********* **** ***** ************ backlog ** * *******:

******* ** ** *** *********** ** a *********** ******** ** *******, ************ in *** ***** ************ ********.

**** *** *** ******** ***** ******* but ** ** ****** **** **** is *** ***** ****** ** **** as **** *** ************ *********** ****** while ********* ***** ****** ** ******* availability.

E-Commerce **********

*** ******* **** **** ********* ** e-commerce:

*-******** ***** **** ** **% ****-****-**** accounting *** **% ** ***** *** revenue

**** ******* ** ******* ****** ** overall ******* *** ** **** **% percentage, ******* **** **** $*** ******* in *** ***** **** **** **** be **** *** *-********.

*** ****-**** ********* ***** ** ** see *** **** *-******** ******* *** local ****** ********. ** ******* **** even ** ******* ***** ********* *** order ******, **** ******* **** **** find ***** ******, ** *** **** day ** *** ****** ** ** a **** *********** *********.

************

**** **** ********* *********** ******:

*** ***** ************ **** **’** ********* at *** ***** *** ********* ** 2021 ***** ************* *** ***** ****** to ******* ****** ** *** ***** quarter.

**** ***** *** ** ******* ~$*** million ** ********** ******* *** *** year **** ***** ************. *******, ******'* ******** *********** **** ********.

**** **** ************ *** ******:

** **** **** ** ****** ** strategic *********** *** **** *** ********** opportunities ** ****** ******* ******* ************ as ** *** ** *** ***** quarter **** ***** *** ***** *****.

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