Avigilon Q3 2017 Results

By Brian Karas, Published on Nov 08, 2017

Avigilon's profit-driven business strategy continues. Q3 2017 results show strong growth in several regions, but weaker results in the US. This was the first call after Avigilon's CEO announced his succession plan. Our analysis of Avigilon's results are in this report.

Q3 ******* - ******* ****

******* *** ** ~**% overall, margins **** ****, ******* operating ******** ******** *********. Historically, ********* ******** *** been **********, ***** ** 2017 **** **** **** ~4.5%, ***** ******* ***** increased. ** **** ********* expenses **** ****, ****** somewhat ****, ~*.*%. ********* *** down ** ~**, ********** that **** ** *** reduction ** ********* ******** is ****** ****** **** reduced ******** ****** ***********, *** employee **********.

US ****** ******

********'* ******* ******, *** US, *** *** ******** overall ******, **** *%, essentially ** **** **** average ******** ****** *********. 

***** ****** ** *** US *** ********** ** "an ********* ****** ** 2016", ****** *** *********** growth ******* ** **********. However, ******** ****** ****** growth ** ** **** in *** *******, **** at ****** *********** **** US ******, *** ***** regions (****** **** *******), still ******* **** ***** average ****** **** *******.

*********** **** *** ** market ***** ** **** half ** ********'* ***** revenue, **** ** * significant ******* *** ****** growth, *** ********* *** challenges ******** ***** ** this ******.

*********

********* *** ****, **** 1,210 ********* ** *,***, the **** ****** ** employees ******** ** **. During *** ******** ****, it *** ****** **** headcount ** ******** ** increase, ******* ********** *** that ********'* ***** ** reducing ******** **** ********, likely ******* ** **** modest *********.

Patent ********* - ***** ***********, *********** ***

* ***** *** ******** spent $*** ********* ****** ***** patents, ******* *** ************* ** this *********** *** ***** unclear. ** *** ********* call, * *** ****** expected ***** ** ********* was ******** ****** ******** to ******* ****** ********* revenue, *** ******** ********** refusing ** ***** *** specific ******** ** ********* revenue. *** ******* ********* that **** ***** ****** margins ** ** **** consistent, ***** ** ****** licensing ***** ***** ****** at ******* ***** ********** the ****, *** **** boosting ******* ** ******** where ******* ********* ***** were ******. ***** ******** is ****** ********** ******* from ****** ********, *** likelihood ** **** **** revenue (and ******) ** ***** inconsequential ** *** ******* business.

Call *** ** *********

*** **** *** ********* led ** ***** *********, after ******** ******* ********** from *** *** *** CEO. ***** ********* *** certainly ************ ** ******** calls, *** ********* *********** in *** ********* **** shows ********'* *** ****** involvement ** *********** ***** of *** ********.

CEO ********** **** *********

**** ***** ***** *** succession **** ************, ********'* CEO ******:

**** ****** *** ***** of *** ******** ***, it's ****** * *** job ** *** *** entire ********* ********* ***-**-*** activities, ***-**-*** **********, ********* of *** ****-**** ******** and **** ** ****** always ******* *** **** on *** ******* ******* into *** ******. *** **, what **** **** ** it ****** ****** ** to ***** **** ** my **** *** ****** on ****-**** ********, ****-**** vision ******* ** *** the ****** ***** **** the ** *** **** of *** ********** **** here ** ****. *'* *** saying *'* ***** ** pass ******* ******* ****, but *'** **** ** it *** * **** time *** ********* **'* good ** **** *** torch ** *** *** some ***** ***** ** there. ** ******, *'* going ** ****** ** doing **** ** **** the **** *'** **** doing *** ********* ** a ****** *****.

*** ***** ** ******* **** operational ******* ** *** business, *** ******* *** focus ** "********" *** "vision" ***** *** ******** has ************ **** * fast-growing "*******" ***** ******** to * **** *********** organization.

 

 

Continued **** ******* *****

********, ********* ******* *********'* involvement, *** **** ********** in ******** *****, ***** maintaining ******* ******* ******. However, ******** *** **** be *** ** *** before ******* *** ****, and *** ******* ********* in ********* ******** **** quarter ***** ** *** indication **** ***** ** little *** **** ** trim. ************, ******** ******** have ************ **** **** to ***** "***** *** dined", ************ ** *** US, ***** ****** **** quarter *** *******. ** US ****** **** *** rebound, ******** *** **** themselves ****** ** ******** spending ** ******** ***** image ** * ******* product **** ******* ****** prices.

 

 

Comments (4)

Assuming good, stable leadership... Is Avigilon (and similar security manufacturing companies) simply seeing strong growth as a result of the North American building boom?

[Note - Avigilon Employee]

Think James did well in that interview. Not easy stepping in to Alexander's shoes.

Not easy stepping in to Alexander's shoes.

Not hard for a shoe-in.

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