Avigilon Accounting Issues Alert

Author: John Honovich, Published on Aug 05, 2014

An independent investment research firm which specializes in forensic accounting has issued an Accounting Alert for Avigilon, calling out specific risks factors.

In this note, we examine them and explain the potential impact of these risks.

** *********** ********** ******** **** ***** *********** ** ******** ********** has ****** ** ********** ***** ***********, ******* *** ******** ***** *******.

** **** ****, ** ******* **** *** ******* *** ********* impact ** ***** *****.

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

*** *******,*******, ****** *** ********* ******* **** ** **** *** ** page ******:

  • ** *** ****, *** *** “**********” ****** **** ***** ********** the ******** ****** ***** *** ******* ******** *** ********* ******* recognition.
  • ** ******* ***** ** * ******-****-******* **** ** ******** ******* recognition *** ** **** ********** ********, **** ************* *** ************* between*********** *** ******* **************, ******* ** ******* *********** *********** *** uncommon ******* ****** *********.

** ***** *** ********* **** ** *** ****** ** ** the ****** ** ***** ***** ********** ******, **** **:

  • ****** ** ******* *********** ******
  • ******** ** ********
  • **** ** ********* ******
  • ********* ***** *******

*** *** *** **** ** *** ****** *** *** ******* that ********* *** ******* * *** *** ** ********* ******** ********** ******** ****** ***** ******** *** *****.

Channel ********

*** **** ******* *** ******* ******* ****** *** *** **** of******* ********, ***** ** *** ******* ** ***** * ******* "******** its ***** ******* ** ******* **** ******** ******* * ************ channel **** *** ******* ** ******* ** ******* ** *** world ** *****."

********, ** ** ********** *** **** *********, ** ******* ** growth. *** ******* ******** ************ ****** *****.

** ************ ** *** ************ ******** *** **** * ***** and **** ********** ******* ** ******** ** **** ********* **** the ********** ** ** ** ** **** ******* **. *** with ***** ********** *********** *********, **** *****, ** **** ******, push ******* ** *********** **** ** *** *********** ****** *** sale ** *** *****.

**** ****, ******* ***** ****** **** ******* **** **** **** of ******* ******** ** ***** ******* ** **** *************, ********** at *** *** ** ******** ** **** / **** *******.

******

******* ** *** ******** ******* ******, ******* *** ******** *** competitively ****** *** **** ********* (** ***** ** *** ***** and ********** ******* ** ******** ********). **** ** ** ******** is *** **** ** ******.

**** ******* *** ********* ** *** *******. ** ******* ******** was ***********, **** ***** **** *** **** ****** **** *** notably *****. ***************, **** ***** ****** **** **** *** ******* are ***** (******* ** ***** ***** ***** ***** ** *** same **** *****).

********* **** ***** ****** *** ******* **** ***** ***** ******, often ************ **.

**** ********************* **** *** ***** **** ** *** ***** ***** **** the **** *** ***** (********* ******* $***+ ******* ** **** acquisitions *** **********), * **** ** *** ***** ***** ***** create *********** *********** ******** *** *** *******.

Trust *** *******?

*** **** **** *** ******** *** **** ** ***** ** how ****** *** ****** ******* ***, ******** **********'* ******* *** internal ********.

*** ******* ******, ****** **** * ********* *********** **** ************ in ******** **********, ***** * *** *** ******* ******* ** Avigilon's *********, ***** *** *******, ***** ****-**-**** **** ********, *** coming ***** ********** ********.

Comments (28)

Undisclosed

| 08/05/14 05:43pm

*** *** *** ***** *****, **** *** *****?

Undisclosed 1 Integrator

In reply to Undisclosed | 08/05/14 07:25pm

*** ******** **** *** ***** *****.

Undisclosed 2 Manufacturer

| 08/06/14 02:28am

*** *** ****** ******* ******* *********** **** ***** ** ******* programs?

*** ****** * *** ** **** **** *** **** ********* revenue ** ******* ******** ** * ******* *****. *** *******, if **** ****** $** ******* ** ******* ******** **** *****, they **** ** **** ** ********** *** ********* $* ******* per *****. ** **** ****** ** *** ********** *** $** million **** *** ** *** *****. ** **** ****** ** together ** *** ***** *** *** **** ******** ** *** on *** ****-***, ******** ***** ** ****** "***********" ** *** value/formulas ** ******* ** *******, ******* *** **** *** * forensic **** ** **** ****. **** ** *** *** * CFO *** ****** *** ***...

John Honovich

IPVM Admin | In reply to Undisclosed 2 Manufacturer | 08/06/14 02:45am

* ** *** ******* ******* ******** **** *********. *******, ***********, ******* / *********** ******* ** **** *****.

*** *** ******* ******, *********,**********. ****'* *** **** ********* ******** ***, ***** ******* **** when **** ***** **** ******:

** ********'* *******, ******** ***** **********, ***** ** **** ** the **** ******* *** ******* ********.

**** *** ********* ** *** ******* ******.

Undisclosed 3 Integrator

| 08/07/14 01:01pm

** ** * ******* **** *********? ******* ******** ***** ** forcing ******* ** *** ***********? ***** **** ** ** *** form ** "**** *** *** *******, ** **** **** ***?" Because * **** ***** ***** * ************ ** **** *** 100 ******* ** ** ********** ******* * ** ** *******. And ** **** ******** *******, ***** **** *** ** *******?

* *** **** ***, ******** *** *** **** ******* ** product *** ** ******...

John Honovich

IPVM Admin | In reply to Undisclosed 3 Integrator | 08/07/14 01:42pm

**** ** ******* ********, ***** *** ********* *** *** ********.

*** * ********** ****** ******* ******* ****** ** **-******* ** end *****.

***'* *** *********** ** ** *******. **************, **** **** $** million ** ******* ** *******. ******* ***** *** **, ****** to ******* *****. ****. ***** ****. *******. *** ***'* *** Anixter **** **** * ****** ** * **** ** **** off ***** *******. ****'* *** ***** *** *********.

** ********** ***** **** **** $** ******* ** *** ******* quarter (******* ** *** **** **** ** *******), ** ***** that ******* **** ****** ****, ******* ** ******* **** *** products **** *** **** ** *** ***** ***** **** ***** quarters. ** *******, ** ***** ******* *** ****** ******* **.

** ********** ******* ******* *** ****** *** ***** *******, **** different *******, ** ********* *******, **** **** ********, ***.

** ******* *** ******* * *** ** *********, **** ***** a ************'* ****** ******* *** ********.

****'* *** ******* **** / ******* ** ******* ********.

Undisclosed 3 Integrator

In reply to John Honovich | 08/07/14 02:07pm

***** ******** **** *** **** ******* ************, * ** ****** trouble ********* ***** ** * ***** ** *********** **** ******** of ********** ** ******* ** ******* ** * ***** ****** they *** **** * ***** **** ***. **** *** ******* of ***** ***** *** ** ****, *** *** ***** ********* would *** ***** ** ******.

Undisclosed 1 Integrator

In reply to Undisclosed 3 Integrator | 08/07/14 02:23pm

***** * ******* *** ****** * "*******" *******, ******* ***** integrator ** ***** ** **********'* ** ****** ** ******** * make ******* ******* *******, **** **** ******* ******** * ******** of *********. ** ***** ** * ****** ** ******* ******** with ******** ***** *** ********* *** ****** **** *** *** that *****'* ***** *** ************'* ********* ***** *** ******* ** actually *********...?

*'* *** ****** **** ** **** ** ***** ****, *** I ***** *'** ***** ** ***** ********* ***** ********* *******.

*'* ******* *** ** **** *** *** ******* ******** ** working **** ******* *****.

John Honovich

IPVM Admin | In reply to Undisclosed 3 Integrator | 08/07/14 02:31pm

******** ***** ******* ************ ** ********* ***** ** *** *****, e.g.,******* ** ***** ** ***********.

**** ** *****, **** *** **, ***** ***** ** ** distributor, ***** *** **** ** *******. ** ** **** *, 2014,*************** **** **** *********** (****.** ******** ************).

**** ****** ****** *** ***** ********* ** *********** ** *** something ******* ***** ** ******** ****** **** ******* **************** **********.

Undisclosed 3 Integrator

In reply to John Honovich | 08/07/14 02:43pm

**** * ***'* *** **** ***** *********** *** ** *** we **** **** $** ******* * **** ** **** *** you ***** ** **** ******* ** **** **** **** ** cameras ** *** ***** **** *** *** ******** ** * specific *******. * **** ***'* *** *** **** **** ***** integrators *** **** *********.

John Honovich

IPVM Admin | In reply to Undisclosed 3 Integrator | 08/07/14 02:48pm

**'* ****** ****** *** ************* ** *** ** '*****'. *** even ** **** *********** *** ***********, ***** ***** *** ***** find * ******* *** *** **** ** ****** * *********** sized *****, ********** ** *** ***** ********** *** ********.

*****, ** * **** *****, **'* **** ** **** *** prevalent ** ** ** *** ************, ********* ********, *** **'* certainly ********* **** *** ** ****.

Alex K

In reply to Undisclosed 3 Integrator | 08/07/14 05:52pm

*** ** ******* ******** ****** **** ******* *****.

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

***** **** *** ******** ***** ** ***** ******* *** ** reason

** ******* * **** **** ***** ***** ****.

John Honovich

IPVM Admin | In reply to Alex K | 08/07/14 07:37pm

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

Undisclosed 4 Manufacturer

| 08/07/14 01:41pm

*** **** **** **** *********! ***** *** **** ****, *** one ** ***** *******'* ******* **** **** ***** ** ** a ******** *******? ***? ******* ** *** ********* *** ******* to ***** *** *******... **. ******* *** ***** *** ******* on ******* *** **** ****?

** **** *** **** **** ******* ** *** ******** *** authority ***/** *****? ***, *** *** ** **** *** ********* others *** **** ******** *** ****... *** ****** *** ****** off.... *** ***** **** ** ******* **********!

Undisclosed 5 Integrator

| 08/07/14 03:07pm

* ***** **** **** ** *** ******* **** **** *** integration **** **** ** ** **** *** **** ******** ** add ********* ** *** ******* **** ** *** ******** **** to *** **** ************/**** ** ** * ******** *******. **** flow ** ******, ** ****** **, *** ** **** *** that ********* *****'* ***** ** *********** ******** *********.

****** *** ************** ********** (******** * ** *** * ***) my ************ ** **** ********** ******* *********** ***** **** ** in *** ******* ******* *** ** ********* **** *** (**** sales ***********) ** *** *******'* ******** *******. ** ***** *****, if **** *** ******** *********** ******** ******* ****** ****** *** providing ******** ***** **** ** ****, **** **** ***** **** to ******* **** (** ******) ** ***** ******* ******* *** there ***** ** ** ********* ****** **** **** **** *******.

* ***** ******* **** ** ********'* **** ** ***** ** channel ********, **** ** ** **** ****** **** ***** ************* distributors ***** ************* ***** *** ****** **** *** **** ** more ************ ** **** ****** ******** ** ******* *** *********** transfer ** *********. ** ***** ** *********** ** *** ** the ************* ***** ****** ** ******** ***** ***** *** ******* post-sale *********** ** *** ***-****** ********* ** *** **** ** credits.

John Honovich

IPVM Admin | In reply to Undisclosed 5 Integrator | 08/07/14 04:45pm

"** ***** ** *********** ** *** ** *** ************* ***** margin ** ******** ***** ***** *** ******* ****-**** *********** ** the ***-****** ********* ** *** **** ** *******."

* ** *** ****** * ********* ** ***** ******* ** territory.

******* ** ********* *** *** *******, *.*.:

Undisclosed 6 Manufacturer

| 08/07/14 03:16pm

* ********** - **** ** *********** *********** **** *** *** specific ** *** *******

*** ** *** **** ******* ****************** ** ***** ** ***** ****** ** ***** *******. ** this ******** * ****** *** ** ** * "****** *****" may **** ** **** ** *** **** ******** ***** *** does *** **** * ******** ******* ** ***** *** **** for. *** *** *** ***** ** **** *** *** # of **** ** ******* **** ***** *** ******* ******** ******* terms (*** * ****** *** *******)

*** **** *** ** ******** **** ***** ** ** **** at *** ***** ******* ** *** ************ *** ******* **** to ******** ******** *** *****.

** ***** ** * *********** ******* ** ******* ** ******** years ** ***** *** ****** *** *** *****

******* ***** **** ****** ** ****** ** ** ********* ****** vs ******** *****. ** ********* % ** ************* ****** **** the ****** ***** **. ***** ** ***** **** ****** **** things *** ******* ****

John Honovich

IPVM Admin | In reply to Undisclosed 6 Manufacturer | 08/07/14 04:42pm

"** ***** ** * *********** ******* ** ******* ** ******** years ** ***** *** ****** *** *** *****"

*** **** *** ** ****** ** *** *** ****** **** dealers ** **** ***********. *** *******, **** ****, *** *** Lou ** ** ** ****. ***, **** ****, *** *** Dan ** ******* *** **** ** *** ***********, ***. *** just **** ** **** ** ********* *** '*****'.

** ******, ********** *** *** * ***** ***** ** ****** be *********, *** *** *** *** **** *** *** **** time.

Undisclosed 7 End User

| 08/07/14 04:05pm

***** **** ** ****** ** ********* **** ** **** **** placed * ***** ***** ****** * **** ** *******? ** are ** * ******** ******* *** **** ******* ***** ********* to **** ** *** **** ****** *** *** ** *** year. ****, ****** **** ******* *** **** *** ******* ** I ******* ** ***** ** ******* ** ********. ** **** placed *** ***** ** ***** ***** **** **** *** ****'* shipping ******* **** ***, * ***** *** *** **** ***** be ********* ** ******** ***** ** ****** ***'* ******* *** product ** ******* ****, **** *** *********.

Rukmini Wilson

In reply to Undisclosed 7 End User | 08/07/14 08:44pm

*** *****, ***** *** **** ******** ***** **** ** ****** sale **** *** ******** **** ****** ****** ****.

*** ** **** ******** ******* **** *** ***** ***** **********, and ******** *** ******** ***** *********, *** **** ** *** take ******** ** ****, *** ***** ** ******* ** **** the ******** ******* *** **** ***** '****', ******** **** *** need *** *** **** ** ***. **** *** **** **** 'stuffed'. *** **** ********** *** **** ******** **** *** ****, so ********books *** ***** when there is only really one...

Undisclosed 3 Integrator

| 08/07/14 09:15pm

**** *** ******* ** ** "*******" *** **** ****** ** out ** ******** ** ***** ***** **** *** ********* **** that.

Undisclosed 7 End User

In reply to Undisclosed 3 Integrator | 08/07/14 09:32pm

***, * ***'* ***** ** *** ***** *** ** ******** anytime ****. ***'* *** * ****** * **** ** * large ******** *** **/**, ******* ** ***** ****** *** ******* our ***** *** ***'* **** ** *** * **** **** the ******* ** *******. ***'** *****, **** *** * ******** business ********.

***, *'* * ******** *** ** ********** *** ** *** could **** *** ***** **** **** ****.

Undisclosed 3 Integrator

In reply to Undisclosed 7 End User | 08/08/14 04:02pm

******** * ** **** **** ** *******, **** *** ** good ** ******** ** *** ****** *******. ** ******* *** meant ** * ***** ** ******* ******* ******* *****, * clicked *** ***** ***** ******. ****** *** *** ****** **********.

Alex K

| 08/08/14 03:01pm

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

***** *** ** ***** ******* ** ****** ** ***** ********'* stock?

** **** *** ** ******'* *******? ***....

John Honovich

IPVM Admin | In reply to Alex K | 08/08/14 03:10pm

**, ******* ** *** * ****** *** * *** **** no ****** ** *** ******* ******** **** ***** ** **** member.

*******, ****, **** ******** ********* *** **** *******. ****, **** of ********'* **** ***** ******* *** ;)

Undisclosed 8 End User

| 08/08/14 06:37pm

*** ******** ********* ** ****?

John Honovich

IPVM Admin | In reply to Undisclosed 8 End User | 08/08/14 06:41pm

********* ** **? **'* *** *** ******, **'* *******.

*******, **** *** ******* ** *** ****** ****** ** *** Veritas ****** ** ***** ********** **** *********:

"**** ** *** *********** ** *** **** ***’* ***** ******** product. *** ****’* *** ** *** *********** **********, ** **** they ***’* **** *** ****** ** **** *** ** *** answer ** ***** ** *** **** ** ***** **** ******* there *********** ** ** ******** ******************* ** *** *******, *********** ***** ***** ** **** **** ** ** ******. ** ********* fill ******* ****** **-***** *** ** ********* **** ********* *** then ******* **** ********* ********* ****** **** ** ********."

Undisclosed 9

| 08/13/14 02:52am

"**** ** *** *********** ** *** **** ***’* ***** ******** product."

**** **** ****** **** * ****** - *** ** **?

************ *** ****** ******** ********* ** *** *********, ** ******** has **** *******, *** **** *** ** ********* ********** *******, **** **** ********* ***********.

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