Avigilon Announces Solid Financials to End 2015

By: 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.

**** *** ****** *** Avigilon.

**** ** *** ********** team *** ****** ** quit, ********** ** ***'**********' ** ***** ****** / ***. *** ***** *****, sales ****** *** ******* all ********.

*** *** *** ** 2015 ******** **** *** Avigilon. ** **** ****, we ******* ********'* **** year *** **********, ******* at *** ********* *** weaknesses ** *** *******.

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

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

*********, **** ***** **** turnover ******** ******* ******** as ** ******** *****. While ******** *** *** return ** ***** *** huge *******, ******* *** they **********.

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

*******'* ** **** ******* growth, ** ******** ********, was **%.

***** *** ******* *************** and ***** *********** ******* for * - **% growth (*.*.,****) *** ********'* ********** issues, ~**% *** ******** is ****.

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

** *** ******** ****, profits ******** ** *******. Net ******* *** ** 2015 **** ~*%, ******* down **** **** **** 10%+ ******* **** ******. The ************ ** *** ~$100 ******* ******* ******* this ** **** ** heavy ******** ********* ** the ***** ************.

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

**** ******** **** ******, they *** * **** for $*** ******* ** 2016. ********, *** ******** goal *** $*** ******* for *** **** *** later **** ******* ** to '*** ****', *.*., a ****** ******* ** $125 ******* ***, ***** they ****** **** *** in ** **** (***** Q4 **** ******* *** $109 ******* ***).

*******, ******** *** ********* dramatically **** *** ********* of *** ******** ****** during *** *******. **** is *** **** ***** quarter *** *** ******* growth ** ** **** higher **** *** ******* revenue (*.*., **** ******* net ******* *** +**%, but ******** ******** *** ~20%). ******* ******** ********, they ***** *** *** this ******.

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

******** ** ****, ******** will ** ********* ** USD, ****** **** ***. For *******, **** ******* was ~$*** ******* ***, which ** ~$*** ******* USD. ** ********, * few ***** ***, *** ratio *** ~*:*.

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

*** *** ***** ****, Avigilon ** ****** **** year ****** ******** **** a ****** ******* ** $335 ** $*** *******. This ***** ***** * growth ****, ** *** of **-**%, ***** ***** be *****, ***** *** market **********. [****: ******* version ****** ~**%]

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

******** *** *** *** back ** **** ***** expenses, **** ***** *** marketing ***** ********** ****** than *******, ********** **% in **. ** ***** anticipate **** ******** ***** start ******* ***** ** the ****** ** ********** tough *** ********* **** to ** ********* **** short **** *******.

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

*** ********** ****** ** that *********** **** **** doubled **** ~$** ******* to ~$** *******. ** is *** ***** ** us *** *** ** might ** *** ** the *** ********** ******** in ***** *** **** was *** ** ********. We **** ****** ** we **** **** ******* here.

Investor ****

*** ********* ** * recap ** *** ******** call:

  • ******** *** ******* **** ********* on *** **** - 'future ** *** ********', 'resurgence ** ***** *********'
  • $* ******* *** ********** revenue ****** *** ** 2015
  • ****** ******* ********* ** 'really **** **' ****, licensing ******* '****** ********', already ******** ****** ** companies '************' *** *** early ****** ******* ****
  • ******** ***** **** *** undervalued ************** *** ****** ****** **** **** **** have **** ** *** the **** ***** ** someone ***** ** ******** them.
  • ***-*** ****** ******* ** new ** *******
  • ******* ****** ********* *** ***** ***** Asian ************* ******, ******** *** ****** that **** ** ***** valuation *********** ** ***** end ** ***.
  • ******* ******* ** **** on **** (****** ** say **** *** ******* it *** ******** ** us *** *** ******** about ********* ********** *** growth). ******** *** ********* that ** "***** *** websites **** *** ***** in **** *** *****". 

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

********, ****** ***, *** estimates ****** ****** ******** growth **** ** ~*%, down **** **** ****'* estimate ** **%. **** does *** ******** ** given *** ******** ****** the ******** *****, ****** Avigilon ********** **** ************ in ***** ***** **********, also *** **********. *********** **** ******** *** / *** ***********.

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

**********, ** ** **** where ******** ** ***** it **** **** ***** the *** ** **** to *** *** ********** settles / ****** ***. However, **** ** * solid **** ** ***. We ***** ** ** unlikely **** **** **** significantly ********** **** **** pace ***, ***** *** industry's ******* *********, ** they *** ********* ****** this *****, ******** *** go ******* ** * moderately ******** ************, ** not *** ***** ****** they **** ***** ** be.

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."

Read this IPVM report for free.

This article is part of IPVM's 6,435 reports, 865 tests and is only available to members. To get a one-time preview of our work, enter your work email to access the full article.

Already a member? Login here | Join now

Related Reports

Fever Camera Sales From Integrators Surveyed on Jun 01, 2020
Fever cameras are the hottest trend in video surveillance currently but how...
Integrators Rising Against Coronavirus on May 27, 2020
IPVM integrator statistics make it clear - Coronavirus's impact on business...
Pivot3 Mass Layoffs on Mar 27, 2020
Pivot3 has conducted mass layoffs, the culmination of grand hopes, a quarter...
Worst Over But Integrators Still Dealing With Coronavirus Problems (June Statistics) on Jun 30, 2020
While numbers of integrators very impacted by Coronavirus continue to drop,...
Hikvision Global Revenue Falls, Hit By Coronavirus on Apr 27, 2020
Hikvision's global revenue fell in the first quarter of 2020 due to the...
CANCELLED: IPVM Conference 2020 on Feb 13, 2020
CANCELLED, May 6th: We are canceling the IPVM September 2020 Conference and...
Terrible Convergint Coronavirus Thermal Camera Recommendation on Apr 01, 2020
A week after Convergint disclosed falling revenue, pay and job cuts,...
Coronavirus Hits Manufacturers, Standing Now, Worse To Come on Apr 06, 2020
Coronavirus is hitting security manufacturers, though overall modestly for...
Bottom: Integrators Start To Stand Vs Coronavirus on Apr 20, 2020
Good news - IPVM integrator statistics show that while coronavirus has hit...
JCI / Tyco Security Products Layoffs on Jun 05, 2020
Johnson Controls / Tyco Security Products has confirmed COVID-19 related...
Uniview Heat-Tracker Temperature Screening Series Examined on Apr 22, 2020
Uniview is marketing #UNVagainstCOVID19 with their Heat-Tracker series,...
Manufacturers Doing Better Than Expected Against Coronavirus on May 05, 2020
Coronavirus impacts are not hitting manufacturers as badly as they feared,...
PSIM CNL Acquired By Everbridge on Mar 09, 2020
The end has finally come for CNL. Despite for years saying they would...
Worst Camera Manufacturers 2020 on May 06, 2020
Which camera manufacturer have integrators had the worst experience with in...
Facial Recognition: Weak Sales, Anti Regulation, No Favorite, Says Security Integrators on Jul 07, 2020
While facial recognition has gained greater prominence, a new IPVM study of...

Recent Reports

SIA Coaches Sellers on NDAA 889B Blacklist Workarounds on Aug 05, 2020
Last month SIA demanded that NDAA 899B "must be delayed". Now that they have...
ADI Returns To Growth, Back To 'Pre-COVID Levels' on Aug 05, 2020
While ADI was hit hard in April, with revenue declining 21%, the company's...
Exposing Fever Tablet Suppliers and 40+ Relabelers on Aug 05, 2020
IPVM has found 40+ USA and EU companies relabeling fever tablets designed,...
Indian Government Restricts PRC Manufacturers From Public Projects on Aug 04, 2020
In a move that mirrors the U.S. government’s ban on Dahua and Hikvision...
Directory of 200 "Fever" Camera Suppliers on Aug 04, 2020
This directory provides a list of "Fever" scanning thermal camera providers...
Face Masks Increase Face Recognition Errors Says NIST on Aug 04, 2020
COVID-19 has led to widespread facemask use, which as IPVM testing has shown...
Dahua Loses Australian Medical Device Approval on Aug 04, 2020
Dahua has cancelled its medical device registration after "discussions" with...
Google Invests in ADT, ADT Stock Soars on Aug 03, 2020
Google has announced a $450 million investment in the Florida-based security...
US Startup Fever Inspect Examined on Aug 03, 2020
Undoubtedly late to fever cameras, this US company, Fever Inspect, led by a...
Motorola Solutions Acquires Pelco on Aug 03, 2020
Motorola Solutions has acquired Pelco, pledging to bring blue back and make...
False: Verkada: "If You Want To Remote View Your Cameras You Need To Punch Holes In Your Firewall" on Jul 31, 2020
Verkada falsely declared to “3,000+ customers”, “300 school districts”, and...
US GSA Explains NDAA 889 Part B Blacklisting on Jul 31, 2020
With the 'Blacklist Clause' going into effect August 13 that bans the US...
Access Control Online Show July 2020 - On-Demand Recording of 45+ Manufacturers Presentations on Jul 30, 2020
The show featured 48 Access Control presentations, all now recorded and...
Face Detection Shootout - Dahua, Hanwha, Hikvision, Uniview, Vivotek on Jul 30, 2020
Face detection analytics are available from a number of manufactures...
Sunell is The First China Manufacturer to Market NDAA Compliance on Jul 30, 2020
Most China manufacturers are going to be impacted by the NDAA 'Blacklist...