Interestingly, this is in line with what manufacturers said going into 2016: 2016 Security Manufacturer Outlook Revealed
Axis Q1 2016 Financial Results - Asia Down / Terrorism Up
Published Apr 14, 2016 13:46 PM
Axis Q1 2016 growth was overall solid but with two diverging trends - Asia and terrorism.
In this note, we breakdown the results and analyze what they mean.
Sales ********
**** **** **%, ** ***** ********** in, ** ****, **** **** ****. ** *** previous ******* (** ****), **** **** **** *% ** local **********.
Asia ***** ****
****** ** **** ******** *% ** local ********, **** ****** ******* *** to ****** ******** ****** ** ***** coupled **** ****** *********** **** ***** ********* like ********* ** *****. ****** **** repeatedly ***** ** ****** ** ******** markets, **** ********* ** ** ****** in ****, ****** ** *** ******** quarter, ***** **** **** **% ** 'only' ***** **** *% *** ********** good.
America ***** ****
*******'* ****** *** *% ** ***** currency, consistent **** *** *** ***** ** last *******'* *%. ******* ***** ** be ***** ** **** ****** **** for ****, ******* *** ******* ***** economy. ** ******* *********'* ********* ***** growth ** *** ******** ** * major ****** ** **** ****.
EMEA ******* ******** / *********
*** *** ****** ******* ** * row, **** ********* *********** ******, **** ~29% **** *******, ********* **** *******'* 21%. **** ************ ****** *** ******** Europe *** *** ****** **** ** driving ******.
** ******* ********* ******* *** * major ****** ** **** ****** (*.*., the******* **** ******* ***** *********, ******** **** ***** *******, ***.). ******, ******** ******** ********** ****** ** ********** *** ****** for **** *** ************ ********* **** Axis.
Inventories ** ************* ******** ** ******
*********** **** **% ** *** **** year, ****** ** ********* ** ***** ratio ** **%, ******** ** **% previously. ** **** ********* ****** ********* to **** **** ****** **** *****, a ***** ** *** ** **** as ****. **** ** ***** ********** to ******* ** **** ********* *** be * ******* ****.
*******
**** ***** **** ******* ***** **** outlook ********* **** ** **** ******, citing *** **** *** *********** ** smaller ******* *** ******** *******.
****** **** *** **** ***** ***** this ******* ************ ***** ***** ******** ***** ****** **** ******** ****, ** ******* **** **** **** an ******* ****** ****** ** **** competitive *********** ******** ** ********* ********* attacks.
Comments (1)
JH
John Honovich
Apr 14, 2016