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

Results ********

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

**** ******* **** **% in ***** ********** **** over **** *** *** been ****** ****** *** year **** ****** ** the *** ** *** teens. Net ****** ******* **** ********, increasing ** **.*%.

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

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

Shortage ******

****** ************ ** ******, *** ******* *** ****** from * ******* ********. In ***** ********* ******, they **** **** ** this *****. ****** ** August, **** ********* * component ******** *******:

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

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

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

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

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

***** ********** *********** *********** is *******, **** *********** are *** ***, **** ** available ******* *** **** sales *** **** ***********.

Expansion ******* ***** **** 

*** ******** ***** *** **** was **** ***-***** ***** were **** **** **** year, * ***** ** quite **** ****:

* ***** ****** ** '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, downward ****** ** *** oil ********, ***** ****** most ** *** *******/******** in *** ****** ****, and ** * ****** extent ***** *******, **** caused declining ******** ** ***** countries ********** **** ** 2017. 

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

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

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

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

  • ********* *** ***** *** increasingly ********** *** ****** for ***** *** **** to *** ***** **** professional ******** *** ** becoming ************ ********* ** find **** ** ***** customers.
  • *** **** ** ******* in 2017 ** **** *********** than ** **** *** **** some ***** ** *************, especially ** ** ****.
  • ********* *** ***** **** suffered **** ******* ************* issues *** ***** ******* problems **** **** **** switching ** **** **** attractive ** **** *********.

** ***** *** ** prudent ** **** *** '****' over ***, ** ***** and ********* *** ***** showing ***** *********** ** spend *******, *** **** is ******* ****** ********** it ** **** **** **** did ** ****.

Comments (9)

Undisclosed Manufacturer #1

10/23/17 02:14pm

* ***** **** ** a ******** ********* *** the ******** **** **** is ***** **** ** grow ******* *** *** cost ******* *********** *********** moves. *** **** **** the **** ** ******* in **** ** **** significant **** ** **** is **** ***** ********** considering *** **** ************* ******** ** ****** The ***** *****.

John Honovich

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

***** ********** *********** *** fact ************* ******** ** ****** The ***** *****.

** *** **** *** months, ********* *** ****** dialed **** *** ****** the ***** *****. **** first ******** ** **** the ***** *** ******** and *** **** **** not *** *** '*** PRODUCTS' ***** ** *** in * ****** ** more.

****, ** ****, ***** was ******* ****** *** board ********* ***** **** whereas ** **** ** has **** **** ** a ***** ** ******* periodic *****, ***** ***** have ********** ***** **** year.

*******, * *** ********* is ********* ***** ** only ** **** ****** that *** ********* ** buy ** **** *** that *** **** ** the ***** ** *** get ****** **** ***** and ***** ** ******** customer *** ***** **** bought ********** ****** *** price ****. *****:********** ** ***** ** Integrators - **********

Undisclosed Integrator #2

10/23/17 03:00pm

**** *********** **** *** not **** **** **************, but ****** **** ******** products ** ******** **** sell ******* *** ******* rather **** * ***** on * **** ** the ****** **** ******* price ** * ******** goal. ***** ** *** Axis **** (**** ** integrator **** ** *** heart ** ***** */ the ******* ** ******* Axis *** *** ******* options ** ****). **** an **** ***; ****** an **** ***.

Undisclosed #3

10/23/17 03:58pm

* ****** **** ***** all *****.

**** ***** *** ******** look **** **/**** ******* market ****** *********?

John Honovich

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

**** ***** *** ******** look **** **/**** ******* market ****** *********?

*** *** ******** **** overall ****** ****** ** or ** *** ******** right ***? ******* **** the **** *** *****, overall ******* ****** *** been ******** ** ****** shipments ****** *** *** offset ** ***** ********, e.g., ************* ******, ********* *******, IHS *** ******.

Undisclosed #3

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

**** *****. * ***** growing.

** *** **********, ******* *** ********* to **** *.*% **** year, **** ******** * disproportionate ****** ** ** from *** ******* *****.

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

***, ** *** ***** that *** *** ******* are ******* ** ** the ***/**** ****/**** *** surge?

John Honovich

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

** *** **********, ******* *** ********* to **** *.*% **** year

*** ****'* *** ****, issue *********** ** * high *****, ***** ******* issue ****** ****** ** lower *******.

** *** ***, * do *** **** *** IHS ******* ****. *** has * ******* ********* of ****** ** ******** / ******* *** * wide ***** ** ******* companies **** **** ** impossible ** ******* * significant ****** ** *****.

Undisclosed #4

10/25/17 12:58pm

**** ** *** **** holding ***** ******. ***** trying ** **** ***** of *** **** ***** play... ******* ***'* ***.

Undisclosed #4

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

** ****... **** *** just ******* *****... * get ** ***.

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