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 *****. *'* **** **'** **** *** **** ******...:)

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