Avigilon Announces Solid Financials to End 2015

Author: John Honovich, Published on Mar 01, 2016

2015 was brutal for Avigilon.

Most of the management team was ousted or quit, culminated by the 'retirement' of their leader / COO. The stock price, sales growth and profits all declined.

But the end of 2015 provides hope for Avigilon. In this note, we examine Avigilon's 2015 year end financials, looking at the strengths and weaknesses of the results.

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

**** ** *** ********** **** *** ****** ** ****, ********** by ***'**********' ** ***** ****** / ***. *** ***** *****, ***** ****** *** ******* *** ********.

*** *** *** ** **** ******** **** *** ********. ** this ****, ** ******* ********'* **** **** *** **********, ******* at *** ********* *** ********** ** *** *******.

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

Sales **** ******** ********* *************

*********, **** ***** **** ******** ******** ******* ******** ** ** disrupts *****. ***** ******** *** *** ****** ** ***** *** huge *******, ******* *** **** **********.

Solid ******* ******

*******'* ** **** ******* ******, ** ******** ********, *** **%.

***** *** ******* *************** *** ***** *********** ******* *** * - **% ****** (*.*.,****) *** ********'* ********** ******, ~**% *** ******** ** ****.

Profits ******** ** *******

** *** ******** ****, ******* ******** ** *******. *** ******* for ** **** **** ~*%, ******* **** **** **** **** 10%+ ******* **** ******. *** ************ ** *** ~$*** ******* patents ******* **** ** **** ** ***** ******** ********* ** the ***** ************.

$500M **** ** **** ** ************

**** ******** **** ******, **** *** * **** *** $*** million ** ****. ********, *** ******** **** *** $*** ******* for *** **** *** ***** **** ******* ** ** '*** rate', *.*., * ****** ******* ** $*** ******* ***, ***** they ****** **** *** ** ** **** (***** ** **** revenue *** $*** ******* ***).

*******, ******** *** ********* ************ **** *** ********* ** *** Canadian ****** ****** *** *******. **** ** *** **** ***** quarter *** *** ******* ****** ** ** **** ****** **** the ******* ******* (*.*., **** ******* *** ******* *** +**%, but ******** ******** *** ~**%). ******* ******** ********, **** ***** not *** **** ******.

Avigilon ********* ** *** **********

******** ** ****, ******** **** ** ********* ** ***, ****** than ***. *** *******, **** ******* *** ~$*** ******* ***, which ** ~$*** ******* ***. ** ********, * *** ***** ago, *** ***** *** ~*:*.

2016 ********** - ~$*** ******* *** *******

*** *** ***** ****, ******** ** ****** **** **** ****** guidance **** * ****** ******* ** $*** ** $*** *******. This ***** ***** * ****** ****, ** *** ** **-**%, which ***** ** *****, ***** *** ****** **********. [****: ******* version ****** ~**%]

Sales ******** ******** ********** ******

******** *** *** *** **** ** **** ***** ********, **** sales *** ********* ***** ********** ****** **** *******, ********** **% in **. ** ***** ********** **** ******** ***** ***** ******* there ** *** ****** ** ********** ***** *** ********* **** to ** ********* **** ***** **** *******.

Inventories **** **** ******

*** ********** ****** ** **** *********** **** **** ******* **** ~$37 ******* ** ~$** *******. ** ** *** ***** ** us *** *** ** ***** ** *** ** *** *** production ******** ** ***** *** **** *** *** ** ********. We **** ****** ** ** **** **** ******* ****.

Investor ****

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

  • ******** *** ******* **** ********* ** *** **** - '****** of *** ********', '********** ** ***** *********'
  • $* ******* *** ********** ******* ****** *** ** ****
  • ****** ******* ********* ** '****** **** **' ****, ********* ******* 'really ********', ******* ******** ****** ** ********* '************' *** *** early ****** ******* ****
  • ******** ***** **** *** *********** ************** *** ****** ****** **** **** **** **** **** ** *** *** **** offer ** ******* ***** ** ******** ****.
  • ***-*** ****** ******* ** *** ** *******
  • ******* ****** ********* *** ***** ***** ***** ************* ******, ******** *** ****** **** **** ** ***** ********* *********** of ***** *** ** ***.
  • ******* ******* ** **** ** **** (****** ** *** **** but ******* ** *** ******** ** ** *** *** ******** about ********* ********** *** ******). ******** *** ********* **** ** "likes *** ******** **** *** ***** ** **** *** *****".

Industry ******* **** *******

********, ****** ***, *** ********* ****** ****** ******** ****** **** of ~*%, **** **** **** ****'* ******** ** **%. **** does *** ******** ** ***** *** ******** ****** *** ******** faces, ****** ******** ********** **** ************ ** ***** ***** **********, also *** **********. *********** **** ******** *** / *** ***********.

Outlook ******** *** ****

**********, ** ** **** ***** ******** ** ***** ** **** take ***** *** *** ** **** ** *** *** ********** settles / ****** ***. *******, **** ** * ***** **** so ***. ** ***** ** ** ******** **** **** **** significantly ********** **** **** **** ***, ***** *** ********'* ******* situation, ** **** *** ********* ****** **** *****, ******** *** go ******* ** * ********** ******** ************, ** *** *** world ****** **** **** ***** ** **.

Comments (4)

Also, Avigilon's CEO continues:

"I mean it's a fact, there is over US$20 billion spent per year today and that's growing a significant amount per year, more than US$1 billion a year of new business."

So that's a 5% growth rate, which sounds roughly right. The fact that industry growth is slowing overall is no knock against Avigilon. But it is much a smaller tailwind for all companies, including Avigilon, than in year's past when the growth rate was integer multiples higher than that.

Investors are positive about the news:

Though still down more than 50% from the highs of 2 years ago:

I like all websites and commentary that are based in fact and truth and are balanced.

Obviously no one ever told him about IPVM! Not anymore.

Invite sent.

An undisclosed source pointed out that trade receivables were up sharply, far higher than revenue growth. This can be a sign of risk.

Excerpt from report:

Notice that past due accounts tripled year over year, from ~$4 million to ~$12 million. This is worth tracking this year to see if this reverts back to lower levels or continues to outgrow revenue.

If it is the later and growing the risks included, "customers are taking longer to pay their bills, which may be a warning that customers are dissatisfied with the company's product or service, or that sales are being made to customers that are less credit-worthy, or that salespeople have to offer longer payment terms in order to generate sales."

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.

Related Reports

Milestone Favorability Results 2019 on Jan 21, 2019
Milestone's favorability moderately strengthed, in new IPVM integrator statistics over their results from 2016. While the industry has been...
Intersec 2019 Live Day 1 - Massive China Presence on Jan 21, 2019
There’s a massive presence from Chinese or China-focused video surveillance firms, chiefly Hikvision, Dahua, Huawei, and Infinova, at...
Mobile Surveillance Trailers Guide on Jan 17, 2019
Putting cameras in a place for temporary surveillance where power and communications are not readily available can be complicated and expensive....
Avigilon Favorability Results 2019 on Jan 15, 2019
Since IPVM's 2017 Avigilon favorability results, the company was acquired by Motorola and has shifted from being an aggressive startup to a more...
Gorilla Technology AI Provider, Raises $15 Million, Profiled on Jan 15, 2019
Gorilla Technology is a Taiwanese video analytics manufacturer that recently announced a $15 million investment from SBI Group, saying this...
Arecont Costar Layoffs on Jan 14, 2019
Arecont Vision, a Costar Company, has laid off more than 10% of their workforce in a move the company described to IPVM as a result of "important...
Struggling ASCMA / Brinks Home Security Gets Stock Delisting Warning on Jan 08, 2019
Struggling Ascent Capital Group (NASDAQ: ASCMA) has disclosed a warning from NASDAQ that ASCMA faced delisting unless they reverse their downward...
CyberExtruder Face Recognition Profile on Jan 04, 2019
CyberExtruder offers 3D modeling face recognition software that they say provides quicker and more accurate matches than other 2D face recognition...
Last Chance - Security Sales Course 2019 on Jan 03, 2019
This is last chance to register for the IPVM sales course: This sales course is customized for the needs and challenges specific to...
European Startup Ajax Profile - They "Stand Against Evil" on Jan 03, 2019
European intrusion detection startup Ajax Systems proclaims: How are they standing against evil? And what are the differentiators and potential...

Most Recent Industry Reports

Cable Trenching for Surveillance on Jan 21, 2019
Trenching cable for surveillance is surprisingly complex. While using shovels, picks, and hoes is not advanced technology, the proper planning,...
Milestone Favorability Results 2019 on Jan 21, 2019
Milestone's favorability moderately strengthed, in new IPVM integrator statistics over their results from 2016. While the industry has been...
Intersec 2019 Live Day 1 - Massive China Presence on Jan 21, 2019
There’s a massive presence from Chinese or China-focused video surveillance firms, chiefly Hikvision, Dahua, Huawei, and Infinova, at...
The IP Camera Lock-In Trend: Meraki and Verkada on Jan 18, 2019
Open systems and interoperability have not only been big buzzwords over the past decade, but they have also become core features of video...
NYPD Refutes False SCMP Hikvision Story on Jan 18, 2019
The NYPD has refuted the SCMP Hikvision story, the Voice of America has reported. On January 11, 2018, the SCMP alleged that the NYPD was using...
Mobile Surveillance Trailers Guide on Jan 17, 2019
Putting cameras in a place for temporary surveillance where power and communications are not readily available can be complicated and expensive....
Exacq Favorability Results 2019 on Jan 17, 2019
Exacq favorability amongst integrators has declined sharply, in new IPVM statistics, compared to 2017 IPVM statistics for Exacq. Now, over 5 since...
Testing Bandwidth Vs. Low Light on Jan 16, 2019
Nighttime bandwidth spikes are a major concern in video surveillance. Many calculate bandwidth as a single 24/7 number, but bit rates vary...
Access Control Records Maintenance Guide on Jan 16, 2019
Weeding out old entries, turning off unused credentials, and updating who carries which credentials is as important as to maintaining security as...
UK Fines Security Firms For Illegal Direct Marketing on Jan 16, 2019
Two UK security firms have paid over $200,000 in fines for illegally making hundreds of thousands of calls to people registered on a government...

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