Axis Financials From Bad To Worse (Q2 2015)

Author: John Honovich, Published on Jul 09, 2015

Things keep getting worse for Axis and now sales are actually shrinking.

In this note, we break down:

  • How revenue and profits are sinking
  • Which regions and areas hurt the most
  • What the bright spot for Axis is
  • How Axis is in denial on degrading outlook
  • Why Canon overpaid by a billion dollars

****** **** ******* ***** *** **** *** *** ***** *** actually *********.

** **** ****, ** ***** ****:

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

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

Canon / **** *********

****** **** ** *** * ********** ** *****, **** ***** owning **** **% ** ****, **** ********* ** ******* ********** because ****** **** *** ******* ***** **** ********* ****.

Revenue *** ******* *******

**** ***** **** ******** **** *% **** **** ****, ** local ******** *****. ** *** * ***** ** **** ******* Axis, **** *** ***** ******** ******. *******, **** *** ******. Last ******* (** ****), ***** **** ** **** *%; *** ******* ****** **** (** ****), ***** **** ** *%; *** ****** ****,*% ** ****. ** ****, **** ******* *** ** **********, **** * continuation ** * ****-**** ********* *****.

*** ******* **** *** ****** ** **** ** ****, ********* from **.*% ** *.*%. ************, **** ******* *** **** ** the **-**% *****.

Regions *** ***** ******* *** ****

******** ******** *% *** **** ******** *% ** ***** ******** terms. **** ***** ******** ** **** ***** **** ** ** their ******* ****** *** **** **** **** ***** *******. **** is ******** ** ** *** ***** ****** ******, ******* *** 9% *******. **** ****** ********* ** *** **** **** *** huge ********* *** **** ***** ****** ******* ** **.

** ******* **** ********** *** ********* **** *****-********* ****** *** smaller **** ************, ***** *** ******** ********** ** ***** ******* and **** *** *** ******** ****** ******* ** ***** ******* and ******* ******. ** *** ******* ****, **** ** * real *******, ***** ** ********* ** **** **** ****.

Bright ***** *** ****

** *** ******** ****, ****** *** ********* ******* **********, **** had ** ********** *** ******* ******* *****, ***** * ********** down ****. ***** *********** ******************* **** / **** ******* **** *******; ********* *****-****** *********** *********; **** **** ********* ******** *** ******** ****************** *** ********; **** * ***** **** ** *** ***** ******** ************ *** ** ****.

*** ** **** **** **** **** ** *** *** ** high *** ** *** ******; **** ** ****, ***** **** relative **** ****** **** ** *********** ***** **** ******** ** the *** ***.

Axis ******* ** ******

*** *** **** *** *****, **** ********** **** ****** ***** and *****, *** **** ************ ********:

"*** ****** ******** *** *** ****** ** *** ******** ***** that ****’ **** ** *** ******* ****** ****** **** ******* unchanged."

** ***** *** ********* ** ****, **** ***** ****** ****** in *** **-**% *****. **** **** ****, **** ******** ******* **** ** **-**%. ***, ** ***** **** *******, **** **** **% ****** ****** ******.

**** ** ****** '***' ** *** *** ** **** ***, the ****** **** ** ** *** ********* / ******* ** the *********** ******* ***** ************ ****** ****** **** ** ~**%. Axis, **** *** ******* *************, ****** *** **** ******* ******** due ** ********* *******, ** ** ****** **** **** ****** there. *** ***** **** *** ****** *** ** ******* ** price ** ******* ******** **** *********** **** *** *******, **** struggle ** ** **** ********** ** *** *** ***.

Canon ******** *******

*******, ****** ** *** ** **** ********** *** ******* ******* when ** **** ***.

**** * ****** ***, ** ********, ***** ****** ** *** ~$2.8 ******* *** *** ****, * ~$*** ******* ******* **** Axis **** ***** *****. ***** ****, **** ****** *** ******** and ******* **** *******. **** **** ******* ************* *** ******* financial *******, ***** **** ****** * ******* **** **** * reasonable ***** *** **** ***********.

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

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

Comments (18)

Thumbnail profile picture john

John Bazyk

IPVMU Certified | 07/09/15 03:13pm
**’* *********** ** ******** ** *** * ******* ** ******* and ******* **** *** ******. **** ** *********** *** ************ market ** *******, ** *** ********* ******* ** **** ****** projects (*** *** *****) *** **** ** *** **** ** years. **** ****** *********** ********, *** **** ** ******* ********** from **** *** ***** “**** *********” ******. *** ********* ******** to *****, *** ********* **** ****% ** ***** **** *****. *** ********* **** ** ***** ******** ******* *** *** and *** ** ******** ** ****'** ***** ** *** ** in *** ***. **** ** *** ** **** **** *** company ***** (****** ******* ****** ***** ** ********), ** *** turn ** * **** ** **** *** ********* ********* ******** and *** ********* *****.

Undisclosed Manufacturer #1

07/09/15 06:13pm

******* **** ******* ********* *** **** ** **** *******... *** combination ** ********** ******** **** **** ******** ********* **** ****** prevail. ** ****** ******* *** ******** *****.

Undisclosed Integrator #2

In reply to Undisclosed Manufacturer #1 | 07/09/15 08:09pm

* ** *** **** **** *** **** ****. * ******* Canon-Axis-Milestone *** ****** ******** ** ** **** ********* *****. ***** Axis *** *** *** *** *** ********** ********. *******, ****** closed ***** **** *** ** ****** ******* ** ***** ********* to ****** *********** *** * **** *** ***** ** *** changes ******** ***** ****.

John Honovich

IPVM | In reply to Undisclosed Integrator #2 | 07/10/15 02:16am

** *** *** ****, * ***** ** ***** ******* **** been **** (**** *** *** **** *** ********* ****** '*** ** ***' *********).

*** ** ** *** ********** ******** / ****** *** ********* doing ******** **** *****, ********* *** ****, **** ***** ************. I ** ********* *** ****** ******** ** **** ****, *** there ** ******* * ******** ******** **** ** ****** ******** looking *** ************ ** *** **** **** **** **** *** been ******. ** *** *******, **** *** *** ****** ** grow *% ******* ** -*%, **** *** **** * **********.

Undisclosed Manufacturer #1

In reply to Undisclosed Integrator #2 | 07/10/15 03:36am

"* ******* *****-****-********* *** ****** ******** ** ** **** ********* still."

** ********* **** *** ******* **** ** ***** "**********" ** Axis, ** ******** **** **** ** ******** *****. **** *** drives ********* ** ***** *** *** ****** ***** ** ******* a ***** ********. ** *** **** **** ****** ** **** partners ** *** ********.

**** ******* *** ****** ** *** **** ***** **** ** reducing *** ****** ** ******** ******* ******** ** *** ********. The ****** ** * **** ******* *** ***** **********.

*** **** **** **** ******** ** ****** ** ****** ******** and ***** ** ***** ******** ** *** ****** ** **** could ***** ** *** **** ** *** *******. ** ** short-sighted *** *** *** ****** *** *******.

Undisclosed Manufacturer #3

07/10/15 02:49pm

** *** ********* ****** ********** ***** **** **** ******** *** "clear ********** ** ******* ** ******* ** *** ******** ********* to ***". * ******* **** *** ** *** * ***** in *** **** *** *****.

Undisclosed #4

In reply to Undisclosed Manufacturer #3 | 07/10/15 04:17pm

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

**** ***, **** ***, **** **** ** #* *** ***** number ** ********* (** ** *** ** ****) ********* ******* cameras.*** ******* *** ******* ******** ******* *** ********* *********...

****** **** *** * *** **** ***** ** ***** *** else, **...

John Honovich

IPVM | In reply to Undisclosed #4 | 07/10/15 06:13pm

*** ** ********* ** ***** ******* **** **** *** *****, the ***** ** ********* ** **** ****** *** ******* ******. For *******, **** ********* *** **** **** **** **** *** active ******** ****** *** ***** ****** *** ************* **** **** runs **** ****.

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

Undisclosed #4

In reply to John Honovich | 07/10/15 06:25pm

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

***, * **********. * *** **** ****** *** *** '*** shock' ** ***** ** ** ********* ** * '*** *****'. Are *** ****** ** ****** ** * ********* *** ******** report?

Undisclosed Integrator #5

07/13/15 02:35pm

*** ****** ******: ***** ********* **** ** *** **** ****.

** ***** ********** *** *******, **** ** ****** *****. ***** hand **** ****** *** ******* **** ********** *** ****. ****** a ****** ******. ***, *** ** * ***** *** *** hole, *** ***** ******* ****** ***** ** ** ***** ****, and *** ******'* ***** *** *********. *** **** ** **** around **** *** ***** ** **** ****, *** **** *** typically *****. ****** ***** *** * *** ***.

* ******* ********** ****** ***** **** ** ** *******, * POE ****** *** ** ***.

**** ** *** *** *** **** * ******'* ***********: (***** numbers)

** **** *** ******* ** $*** **** **** $****

********* ******** **********: $**** ****** *** ** * $*** ****** licenses $****

******* ** **** *** ****** $*** (** *** **** **** Cisco)

**** **/****** **** * *****: $****+

*** ****** ***** *** ************ ** *** **** *** **** options.

***** ******** *** ******** ****** ****: $**,***. *** * ****** is ***** ** *** **-**% **** **** *** *********

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

** ******* *** **** ** **** *** *** ***: $***

** ***** ** ******* ** $*** ****: $****

***** ****: $****. *** * ****** *** ********* *** * nice ****** *** ***** ** **** *** ***** ** *** other ******.

***, ** ****** *** *** **** *** ***** ** ********* and ****** ***** *** ********, *** ** *** ***, **** the *****, *** *** *** ****** *** *** ******** ***** to ******* ** ********. ** *** ** ***** ** ********** these ******* ** **** *****, *'** *** ***** * **** compelling ********* ** *** ** *** ***** ** ******* ***. If ***** *** * ***** ** *** ****** ********* ** 11:30 **, **'* ********* ** **** ** **** ******* ** one ** *******.

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

Jason Spielfogel

In reply to Undisclosed Integrator #5 | 07/13/15 04:56pm

* ***** *** ** **** ****, ****** *** *** ********* when *** **** ****** ** ** *******. ** *** *** a ****** ** ***** ***** ** * **, ***'** **** that ****** ** * ***** **** *** ******* ** ***** & ****** ** ** ***** *** ******** *** ************ ******.

***** & ****** ** * **** ********** ************ ** *** DIY *****, *** *** ****** ******* ******* *********** **** *** Prosumer/Professional ************ ******* **** ***/**** ********* ** *** **** ****** Makita *** ********* *** ******** ** ***** *** *****. ***** & ****** ** ********** * *** ***** ****, **** ******** perceived ** ** *** ***-**** *** ******* *** ******** ********** use.

** *&* ******* *** ****** ***** ***** ********** *** **** the **** ***** & ****** ***** **** *** *** ****-***** Yellow *** ***** *********, *** ********** ******* ** ** ** its *** ***** **** ****** ******* ********, *** ** ******** price-point.

* ****** *****, *** ******* *** *****, ****** ** *** probably *** **** **-** *** ***** *** ******* *********, *** even ** *** ************ *****, * *** ** **** ****** tools ** *** ***** ** * ** ****** *** *********.

* ******* **** ******* ***** & ****** *** *** *** of *** ****** ***** *** ****** ** ********* **** *** Video ************ ******** ***** **** ***** **** ** **** ******* Up ****** *** **** ****** ** ******* **** ****, *** that ******** *** ** **** ****** *** ***** ** ********* within ** ********.

** * ****, * **** *** **** ** **** **** very ****, *** ****** **** ***'* * **** ******** **********.

(** * **** ****, *** *** ****** **-**** *** ******* drill/driver *** * *** ** ********* ** *** **** ******** drill *** *'** **** *****) :)

Undisclosed Integrator #5

In reply to Jason Spielfogel | 07/15/15 04:36pm

**: *** ****** ******: **** **** ***** ** **** ***...****://***.******.***/**/*******/**********?****=**********-***************&****=*************

****, * ******* *** ***** ****** ***** **** ***. ** makes ******** ****** ***** ****** *** ****. **** ***** *** entertaining.*****://*****.**/***********

Undisclosed Manufacturer #7

In reply to Jason Spielfogel | 07/18/15 02:15pm

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

Undisclosed Integrator #6

07/15/15 12:08pm

**, *** *********, *** **** ******** ***** *** "** **" . *** ******* ** *****. *** *** ********** ** ******** by******* ******* ** *** **** ******* **** * ****** *** shipper** ************. *** **** **** *** **** **** **** **. I **** ***** ********* ** ******* **** * ******* *** does ****, *********** *** *** *****. ***** ** ****** ********!

Undisclosed #4

07/18/15 07:55am

*** *** **** *** *****, **** ********** **** ****** ***** and *****...

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

** ***** ****, **** **** ******** *** ************ ** * new ************ **** **** ** ******* ******** ** *** *******’* existing ****** ******** ** ****. *** ******** ** ******** ** be ***** ** ***** **** *** **** *********** *,*** *********....

***nine ***** office building with a total area of 32,000 square metres, will occupy an entire ***** at the Ideon Science Park...

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

Undisclosed #4

In reply to Undisclosed #4 | 07/18/15 06:05pm

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

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

******** **** ********* ***** *****’* ******** *** *** ***** *******, Axis ********* *** ********* **** ** * ******* ***** **** representatives **** *** ************, ********** *** *** ******* ** ***********.

*** **********, ********'* *** **** ***** ** **** * *******, though ** ***,*** **.**., ** **** **** **** ** ****' new ***,*** **. **. *******. ******** **** $**,***,***.

*** ***** **********, ******** ** ****** ***** ************ *** ********* to **** ***** ** ****** ******* ** *******. ****, ******* is ********** ******* ***** **** ********...

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

Undisclosed Integrator #2

In reply to Undisclosed #4 | 07/19/15 04:02am

** ** **** ** ********* ** *** ********* ** ********* if ** ** * ***** ****. ******* ***** ****** ** personnel *** ******** *** **** ** ***** **********. ***** ***** and ********* **** **** ***** ** **** ***** ********* ** to *****-********* *** ********. * *** *** ******** ** **, there *** ** ** * ***** ******** ******** ****** ** that ** ****** *** *** ***** **.

Undisclosed #4

In reply to Undisclosed Integrator #2 | 07/19/15 06:37am

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

** ***** ***** *** ********* ************** **** ** *** ******* of, *** * ***** ********** **** *********, *** ********** ***** ** **********.

********** **** * *** ** *********, **** ****, **** *** so **** *** *** ****, ** *** ***** **** *** be *********?

******** ** **** **** *** **** * ***** (*****?) ****** they *** **** *********. ** * **** *** ***** ** that **** *** ** *** ****** ** * ******* **** began **** *** ******* *** * *** ******. *** ******* find ********** *** ** ***** *****, ***** ***** **********, **** probably ***** ** * ****** ***** *******.

***, ** * *** ***********, ****** ** ************* ***, * do ****** **** ********* **. **** **** **** *** ******* has ****** **** ***** *** ********** ** ***** *** ********* coliseum

And * **** **** ****** of a joint Scandanavian SuperComplex in Lund, (though the Danes might not), put the VMS folk in one building and the Camera people another. Connect the two buildings with people movers via a high capacity powered bridge.

** ** ***** ** * ********** ****** ** **** *****, then *****. *'* **** **'** **** *** **** ******...:)

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

Anixter - Falling Video Prices on Jul 26, 2017
Falling video prices are such a concern that it has become a notable topic for Anixter's financial results and Anixter's executives. In this...
Hikvision Distributor Says Hikvision "Top Rated Yet Most Hated" on Jul 12, 2017
The CEO of 2M Solutions, a distributor selling Hikvision cameras under their own as well as Hikvision's brand has publicly declared Hikvision to be...
Best Manufacturer Perks on Jul 07, 2017
A decade ago, the best manufacturer perk was likely a trip on the Pelco jet: But the Pelco jet is long, long, long gone. What types of perks...
Hikvision USA Hires VP of Business Development on Jul 05, 2017
Hikvision USA is expanding again, this time in its drive to move up market to larger integrators and end users. In this note, we analyze...
IndigoVision Raids Avigilon Sales Team on Jul 05, 2017
If you can't beat 'em, hire their employees? This could be described as IndigoVision's most recent strategy to increase market share in North...
Hikvision Hits Record 'ALL PRODUCTS' Sales Run on Jun 30, 2017
Hikvision has a new record. This one is for the most times a video surveillance manufacturer has put all their products on sale in 2 months....
Hikvision Stock Surges - Doubling In Past Year on Jun 29, 2017
Hikvision's stock, on the China Shenzhen stock exchange, has more than doubled in the past year, vaulting the company's worth to an astounding (for...
Top 5 Improvements For Manufacturer Sales People on Jun 28, 2017
Manufacturer sales people are very important to integrators, but it takes more than just punching a clock to be successful and truly valuable to...
Manufacturer Sales People Are Very Important - Statistics on Jun 26, 2017
IPVM's new integrator statistics show what sales people say regularly: Sales people are very important. From 150 integrator...
Importance of Sales To Integrators - Statistics on Jun 23, 2017
One of the top trends in the industry over the past few years has been the rise of across-the-board sales (e.g.: Hikvision Sales, Dahua Sale,...

Most Recent Industry Reports

Babel Street Global Threat Monitoring Tool Examined on Jul 27, 2017
Intelligence on potential threats and terrorist attacks can often be found online hours, or days, before an actual event, particularly in obscure...
Canon Sues Avigilon on Jul 27, 2017
Canon, owner of Axis and Milestone, has sued Avigilon for patent infringement in US court. This is a highly atypical move for Canon, pitting 3 of...
Anixter - Falling Video Prices on Jul 26, 2017
Falling video prices are such a concern that it has become a notable topic for Anixter's financial results and Anixter's executives. In this...
Bosch G-Series Intrusion Tested on Jul 26, 2017
Bosch is one of the biggest names in intrusion, and the company's G-Series panels are their most advanced commercial and high-security panels. But...
Healthy Skepticism for Deep Learning Is Prudent on Jul 26, 2017
The hype for deep learning in video surveillance is accelerating. Between the race to the bottom and dearth of a 'next big thing', certainly pent...
$28M Drone Detection Startup Examined (Dedrone) on Jul 25, 2017
Dedrone has received ~$28M in funding to build what they call an "automatic anti-drone solution", a system to detect drones, and then automatically...
Hikvision H.265+ Bullet Tested (2035) on Jul 24, 2017
Continuing our tests of Hikvision's new low cost Value Plus line, we bought and tested the 3MP DS-2CD2035FWD-I, now including H.265+. We shot the...
Sports Stadium Security Design Recommendations on Jul 24, 2017
Sports stadiums pose many challenges for designing security systems. The facilities vary from being mostly vacant, to packed with tens of thousands...
Competing Against Convergint on Jul 24, 2017
No integrator is more aggressively expanding than Convergint Technologies. Owned and funded by private equity firm KRG, Convergint has acquired...

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