Axis Strong US Growth, Flat EMEA - Q3 2018 Financials
This spring, Axis had its best financials in many years (see Axis Strong Q2 2018 Results). However, over the summer, Axis had many products sold out.
New Axis financial results for Q3 2018 show decreased growth and mixed results, with strong US growth but flat in EMEA.
Inside this note, we examine Axis financials and look at the challenges and opportunities for the company.
Financials ********
******* *** ** **% ** ***** currencies **** **** **** ***** **** (*** **** ******). **** ** * ***** **** from ** ***** *** **** **** year ****** ** **%.
****' **** *********** *** **** *** product ********:
*** ****** ****** ***** ************ ******** in ***** ** *** ********* *********** situation ** *** ****** ********** ******.
** *** *** ***** *** **** this ** * '******' ***** ** Axis *************** ******.
*** *********** ******* **** ********* ********** is **** **** ********** **** *** manage / ********** / ******* ***** to **** ******** **** ******. *** company *** * **** ****** ** quarterly ****** ******** ** *** ****.
Shortage ******
**** *** *** ******** *** ******* how **** ****** ****** ***** **** been ** **** *** *** **** a ******* ********, ******, **** *** various ******* ** **** ***** ** various *******, ** ** ****** ***** material.
Americas ******, **** ****
******** **** **% ***** *** *** flat, ********** * **** ***** *** the ******* ** ***** ** ***** graphic:
******, ** *** **** * *****, the ******** *** **** **** **% to *** *********** **% ** **** total *******:
***** *** ***** *** ********* *** some ******** ****** ** **** **********, this ********* * **** ***** ** Axis ***** ******** ** *** ******** than ** ***** **** ****** ** EMEA.
Profits ******
**** ******* ******** ** ** ****** with **.*% ***** ******* *** **.*% operating *******:
**** ** ******* **** **** ******* some ******* *** ******** ***** ****** models ** *** **** *** *****.
********, ***** ***** **** *******, **** could *** ****** *******. *******, ***** they ** *** **** ****** ******** as **, **** ** ******** *** the **** *****.
Hikvision *** ******* **** ** *** ****
*********,********* ** ****** **** ** ********* as *** '******* **** ** *** year'** *** ********:
[**** ** ****** *********]
*** ***** ********* ********* *** **** Axis ** **** ********* *** ********* plenty ** ******** ** ****.
********* ** ********** ****** ** *** in *** **** *** ***** *** we **** ** ****** ** ****** as ****.
****'* *****! * ** ****** *** much ** *** '****** **********' ******** is ******* ** ***** ********* *** market ** ******* **********. ** ** clear, * **** ** ****** ***********, just ********* ***** ** ***** ***** size *** ******* **** *** ***** of *****'* ************** ** *********** ******** in **********.
* **** **** ***** *** ********** that ****' ********* *** ******* ** camera-specific **********, *** ******* ******* ****** like *********, **********, *** *********, ***. This ** ***** ** **** ************* with **** ******, *** *** **** that ***** **** *** ****** ** be *** ******* ********* ********* ** the ************* ***** ** ***** **** I **** ***** **.
** *** ********* *** ****** ******-********, then ** ***** ****** ** ****** things **** ******* **** ***** ** common ** **** ********* (***** *** uses ****** ********* ***'*, *** **** uses * *** ** ***** *** ARTPEC *****). * *** ********** **** some ** *** **************, *** *******, in *** **** ********* ************* ****** might ** ****** ** ********* *** Axis ** *** ***** ****** ***** produced, *** ** **** **** *** case * ***** ****** ***** ********* to ** **** ***** **. ******* to ******** ******.
** ** **** ***** ****** **** Avigilon *** *** *** ********* ************ issues (** ***** *** **** * have ***** ** *** ******). *********, Hanwha *** **** **** ** **** demands, ****** ** ****** **** ***** overall ******.
** *** **** ********* *** ****** on *********, * ***** ****** ** would *** *** ******* ** **** than **** ****, *** **** *****'* seem ** ** *** ****. ** feels **** ****' ****** *** ****** Axis-specific *****. * ***'* ***** ***** that ** ** "********* *********" ** much ** *********** ******* ************* *** ramp-up ******, *** **** ** **** my *** ***** **** ** **** or ************* ** ******* **.
*** ***** ****** ************* **** **** the ********* *** ****** ****** ***** to ** * ****** ** ******** components ** *** ******* ******** **** you *** *** ****** ********** ******* changing *** ***********/***** *** ******** ** the ****** *** **** **** ******* manufacturers. * ***** ***** ******* ******* (Sony, ******, ***.) ******** ** ****** (CBC, *******, ***.) ** *** ********* culprits *** *** *********.
** *** *** ******, * ***** consider *** **** ****** ** ***/******** brands ** **** ** ****** ****** than *** ********** ***** ** *** industry. *****'* ********** * ****** ******* in ******* **** ** ***** *** markets **** ***** **** ** ***** security ************* ****** *'* *** ** sure ***** *** ******.
**** ******* ***** ***** ** ***** with **** ** *** ******. *** US ***** **** ** **** **% but *** **** *** **** ** 5%..I ***** *** *** ****** **** sale ***** **** *** **** *** more ***** *** ******* ********* *** political ****** ** *** ****** *** less ***** ***** ******* ************. *** situation **** ***** *** *** ***** gulf ****** ***** **** *** ********** economies ** *** *** *** ***...** are **** *** ****** ***** ******** released ** ***** **** *** **** awarded **** **** * **** ***.
** ****' *** *********'* ************* *********** got ******** **** ***** ******** ******* out *********** ** * **** ********* build ******** *** **** *********.