Axis Q3 2017 Financial Results

By: IPVM Team, Published on Oct 23, 2017

A big issue for Axis this past quarter was their product shortage.

Despite that, new Q3 numbers for Axis show solid financial results.

In this note, we examine the results, the shortage, Axis video vs non-video, and why the race to the bottom is diminishing.

Results Overview

* *** ***** ******* **** **** ******* was ***** ******* ********.

******* ****, *** ** numbers *** **** **** solid ********* *******.

** **** ****, ** examine *** *******, *** shortage, **** ***** ** non-video, *** *** *** race ** *** ****** is ***********.

Results ********

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

**** ******* **** **% in ***** ********** **** over **** *** *** been ****** ****** *** year **** ****** ** the *** ** *** teens. *** ****** ******* also ********, ********** ** 12.3%.

******* **** *******, ***** margins ********* ** *.* percentage ****** **** **.*% to **.*%. **** ** a ******** ********* **** Axis *** **** ** grow ******* ****** ** cut ***** ******.

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

Shortage ******

****** ************ ** ******, *** ******* *** suffer **** * ******* shortage. ** ***** ********* report, **** **** **** of **** *****. ****** in ******, **** ********* a ********* ******** *******:

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

*** ******* ********* *** a ****** ** **** demand *** ****** ***** than **********. *** ******** from *** *** *********** take ****** **** ****** due ** *** ***** supply ********* *** ******* components.

*** ******** ** ****** a ******** ****** *** Q4 ********* ******* ** backordered ******** *** ****.

*******, *********** *** **** continue ** *******:

  • **** *****: *,***.* ***
  • ** **** ***: ***.* SEK
  • ** **** ***: ***.* SEK

***** ********** *********** *********** is *******, **** *********** are *** ***, **** of ********* ******* *** hurt ***** *** **** competitors.

Expansion ******* ***** ****

*** ******** ***** *** Axis *** **** ***-***** sales **** **** **** over ****, * ***** in ***** **** ****:

* ***** ****** ** 'other' ****** *** **** acquisitions, **** ********* ** *** ****. *** **** *** acquisitions *** **** **** a **** ***, ****** will **** ** **** from ******* ***** *********.

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

** ******** ** *** a ****** ***** *** our *** ******** ******** when ** ****** *** sales ******. ***** ******* relatively ***** ****** ******** to *** **** ******** and ********** ******* ***** fluctuate ** *** ******** reporting ** ***** ** to ************.

** **** ** *********** to *** *** ***-***** growth **** ***** ******* as ** *** **** a ***** **** ** Axis *************** ******* ******* the **** ** *** bottom. ** ** ***, 'other' ** ***** **** ~6% ** **** ***** sales.

Tough ******* - ***** ******* *** ****** ****

**** ****** *** ******** in * ******* - South ******* *** *** Middle ****:

*** ****** **** ** particular *** ********** **** a ****** ****** *** Axis *** ***** *************. However, ******** ****** ** the *** ********, ***** drives **** ** *** economy/spending ** *** ****** East, *** ** * lesser ****** ***** *******, have ****** ********* ******** in ***** ********* ********** most ** ****.

Race ** *** ****** ***********

** ******* **** ***** results **** *** **** to *** ****** ** diminishing.

****** ** ****, **** had ***** ************, ****** **** ****** ** just *%***** **** ******* ********* 1%. *** ** ****** as **** ****,**** ***** ****** *** down (** ****). ***** **** ******* are ******** ****** **** they **** ********** ********, given *** ******* ********.

*** *** ******** ******* include:

  • ********* *** ***** *** increasingly ********** *** ****** for ***** *** **** to *** ***** **** professional ******** *** ** becoming ************ ********* ** find **** ** ***** customers.
  • *** **** ** ******* in **** ** **** significant **** ** **** and **** **** ***** of *************, ********** ** Q3 ****.
  • ********* *** ***** **** suffered **** ******* ************* issues *** ***** ******* problems **** **** **** switching ** **** **** attractive ** **** *********.

** ***** *** ** prudent ** **** *** 'race' **** ***, ** Dahua *** ********* *** still ******* ***** *********** to ***** *******, *** Axis ** ******* ****** weathering ** ** **** than **** *** ** 2016.

Comments (9)

Undisclosed Manufacturer #1

10/23/17 02:14pm

* ***** **** ** * ******** ********* *** *** ******** that **** ** ***** **** ** **** ******* *** *** cost ******* *********** *********** *****. *** **** **** *** **** in ******* ** **** ** **** *********** **** ** **** is **** ***** ********** *********** *** **** ************* ******** ** ****** *** ***** *****.

John Honovich

IPVM | In reply to Undisclosed Manufacturer #1 | 10/23/17 09:07pm

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

** *** **** *** ******, ********* *** ****** ****** **** the ****** *** ***** *****. **** ***** ******** ** **** the ***** *** ******** *** *** **** **** *** *** any '*** ********' ***** ** *** ** * ****** ** more.

****, ** ****, ***** *** ******* ****** *** ***** ********* price **** ******* ** **** ** *** **** **** ** a ***** ** ******* ******** *****, ***** ***** **** ********** later **** ****.

*******, * *** ********* ** ********* ***** ** **** ** many ****** **** *** ********* ** *** ** **** *** that *** **** ** *** ***** ** *** *** ****** gets ***** *** ***** ** ******** ******** *** ***** **** bought ********** ****** *** ***** ****. *****:********** ** ***** ** *********** - **********

Undisclosed Integrator #2

10/23/17 03:00pm

**** *********** **** *** *** **** **** **************, *** ****** that ******** ******** ** ******** **** **** ******* *** ******* rather **** * ***** ** * **** ** *** ****** with ******* ***** ** * ******** ****. ***** ** *** Axis **** (**** ** ********** **** ** *** ***** ** Texas */ *** ******* ** ******* **** *** *** ******* options ** ****). **** ** **** ***; ****** ** **** fan.

Undisclosed #3

10/23/17 03:58pm

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

**** ***** *** ******** **** **** **/**** ******* ****** ****** stagnates?

John Honovich

IPVM | In reply to Undisclosed #3 | 10/23/17 09:08pm

**** ***** *** ******** **** **** **/**** ******* ****** ****** stagnates?

*** *** ******** **** ******* ****** ****** ** ** ** not ******** ***** ***? ******* **** *** **** *** *****, overall ******* ****** *** **** ******** ** ****** ********* ****** but *** ****** ** ***** ********, *.*., ************* ******, ********* *******, *** *** ******.

Undisclosed #3

In reply to John Honovich | 10/23/17 09:32pm

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

** *** **********, ******* *** ********* ** **** *.*% **** ****, **** possibly * **************** ****** ** ** **** *** ******* *****.

*****, *** ****...

***, ** *** ***** **** *** *** ******* *** ******* up ** *** ***/**** ****/**** *** *****?

John Honovich

IPVM | In reply to Undisclosed #3 | 10/23/17 09:39pm

** *** **********, ******* *** ********* ** **** *.*% **** ****

*** ****'* *** ****, ***** *********** ** * **** *****, later ******* ***** ****** ****** ** ***** *******.

** *** ***, * ** *** **** *** *** ******* that. *** *** * ******* ********* ** ****** ** ******** / ******* *** * **** ***** ** ******* ********* **** that ** ********** ** ******* * *********** ****** ** *****.

Undisclosed #4

10/25/17 12:58pm

**** ** *** **** ******* ***** ******. ***** ****** ** make ***** ** *** **** ***** ****... ******* ***'* ***.

Undisclosed #4

In reply to Undisclosed #4 | 10/27/17 10:00pm

** ****... **** *** **** ******* *****... * *** ** now.

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