Quarter ********
******** ** *********** ****** *** ** 16% ** ******** ******** *****, with $**.* ******* *** revenue *** ******* ** 51%.
** **** *** * weak ******* *** ********, so **** ****** **** made *********** ****** ****** for ******** *** ** was ***.
Axis Beats ********
** ********,**** ** **** ************* *** ** **% in constant ******** *****, ******* higher **** ********. ***** Avigilon ******** ******* * decade ***, ***** ******* growth *** ********* ****, even ** ** * few ***** *** ***** revenue *** ********* ******* 50%+. *******, **** ******* was * ******** ******* so ******** *** ******* Axis ******* ***** **** year. ***********, ******* *** two ********* ****** ******** have *********.
Avigilon ********** ******* ***** *** ******** **** ****
** ** ******** *** the** **** *** *******, ******** ** *** clearly ************ ******* **** maximizing ******* ******. **** was ********* ** *** Q1 **** *******. *** example ***** *** ********* expenses **** ** * meager *% **** **** year *** **** ******* as * ********** ** revenue:
********, ********'* *** ********** cash **** ** *** press ******* *****, ********* uncommon *** *** ****** growth ***** *********:
** ** ** ********* cash **** **** ********** by$**.* *******
Diminished ******* *** *******
******** *** **** ******* strong *******, **** **%, until ** **** **** margins **** ** **%. Q1 **** *** *** fourth *********** ******* ** lowered ******* *** ********, making ** ******** **** company **** ****** ** previous ****** ******. **** is **** ****** *** to **** ** *** bottom ******, ******* *** company ******* ****** ** ** cameras, *** ********* *** H4SL ******* ******** ** lower-priced *******.
Capex/Building ***********
** *** ******** ****, Avigilon ****** **** *** $12M ** ******* ******** was "****** ******* ** building ***********", ***** ************ **** *** $*** million ***. *** ******* **** indicated *** ****'* ******* expenses ***** ** ******* similar ** ****'* ($**.**), which ***** ** ********* to ******** ***********.
Receivables ****
*********** **** **** ************* from *** *** ** Q4 ****, *** *********** were ********** ******. * good **** *******, ****** it ** ******** ******** will ******** ** *** similar ***** ** *********** going *******, ****** **** are ********** ****** ****** lines, ** ********* ****** to ************ ****** ***********.
H3 ******** - ** *** *******
*** ** ****** **** was ********* ** ***** being "****** *******", *** unlikely ** ** ***'* until *** **** **** is ***** *** **** the **** ******* ***. This ** **** **** for ******** *******, ** the ** ***** **** have ******* **** ** be **** *********** ******* other ****** ******, *** bad **** *** *******, as *** ** ***** cuts **** ********* **** a ************ ****** ** Avigilon's ******* ******.
Hardware *************** *********
********'* *** ********* (** accepted) **** ******** ** rapidly becoming ************ ****** *** industry, ****** ** ******** to ** ******* ** the **** ****** ***** analytics *** ******** *********:
*** ** ********** ************* *** **** **** becomepurely ************ and then the value will be really in the embedded software that’s contained in the software along with the video management software. [emphasis added]
*** *** **** **** as * **** ***** for ********, ** ******* hardware ***** ******* ** more ******* ********* ***** then **** ******** / recording:
** ** *** ******* selling *****, *** **** for ********, *** ******-***-***** from *** ************* ** the ******* ******* ***** goes ****, ** ***** the ********** ***** ************ coupled **** ********* **** accessible ** ** **** increasing ******. *** **** has *** ******* ** essentially ******** ********* **** ourselves *** ******* *** video ********** ******** ** sell **** ******** *** to ****** *********** ******* more ***** **** *** software ** ******* ** the ********.
***** ******* ******** ***** may **** ** **** software *******, ********* *** understandably ****** ** ****** a ~$*** ******* (**** of ********'* ********** ******* with **** ********* *******) for * $*** ******.
No ******* ** ********* ******* *******
*** ***** ** ********* no ********* ******* ** *** analytics ********* ******* ********* on *** **** ******** call. ** ********* **** given ** *** ****** of *********, ** *** overall ************ ** *** business **** *** ******* program, **** **** ** was * ******* *******.
Outlook - ****** *********
*******, **** *** ******** is **** **** ******* on ******** ***** *** generating *******, ** **** that ********* **** ********* for **** ****.
*******, **** **** ********'* strong ********** **** ***** and ********* ************ ** years **** ****** ***** extreme ******, ********'* ********** of ***** ************ *** could **** ****** ****** more ***********.
Comments (6)
John Honovich
Wow, amazing how things have changed. Just 3 years ago, Q1 2014, Avigilon doubled their sales expenditures year over year:
For those of you who remember, this was at the same time of the CFO departure / 'sickness'.
And even in Q1 2015, just 2 years ago, sales and marketing expenses were up 72%:
Now, Q1 2017 just 5%...
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Undisclosed #1
I didn't see anything about the leaseback part of the sale in the call, (like the rent for instance), did I miss it?
Also, they continue to insist that the licensing program is in its infancy, with AF downplaying its current and near term impact and not even knowing the number of licensees. Do you think this is for lack of effort or have they decided not to play hardball?
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Undisclosed Manufacturer #2
Nothing to shocking in there. Two strong brands still doing well in an industry where the Chinese are looking for world domination by way of SALE SALE SALE. Right it's late, I'm out the back door...
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Undisclosed Manufacturer #3
I did not make the call, was there any more talk around the $500 million annual revenue, or the now quarterly 'run-rate'? Outside of analytics, was there any strong indication of strategy moving forward?
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