Dedicated Micros Further Freefall - 2013

By John Honovich, Published May 06, 2013, 12:00am EDT (Info+)

Dedicated Micros most recent 2012 financials continue the tough trend the company showed in 2011 and for the past few years. Now, the former DVR leader has discontinued multiple operations and recorded a significant loss to Norbain. Inside this note, we break down the revenue decline, margins impact, discontinued operations, cash position and their future.

Revenue Decline

******* ******* **% **** **.* ******* GBP ** **.* (** ***, ****'* the ***** ********** ** ***** **** $62 ******* ** $** *******). ** its **** ** *** *** ****, DM's ******* *** ~$*** ******* ***, meaning ** ******* ******* **** ** 60%+.

******* ******

***** ******* **** **** ~**% ** 2011 ** ~**% ** ****. *******, net ****** ******** **** * **** of ~**% ** **** ** ~**% in **** ** ** ******* ******** costs **** ***.

************ **********

** ******** ****** **** ********** ** ***********, ****** *** ************* ******** ** Denard *** ****** ***** ******** ********. They ******** * *** **** **** of *.* ******* *** *** **** exceptional ***** *** ************ **********.

******* ******

** ******** * ******* *** **** due ********* ***** **** **************.

**** ********

** *** **** **, ****, *** cash ******** ******** *.* ******* *** overdrawn, **** * ******* *** **** over ****. *******, ** ***** ****, DM ******** * ************* ** ***** financing ********** ********* ** ********* ******** of * ******* ***.

****** ******* ******?

** ******* '******* ***********' *** '************* improved' ** *** ****** **** ** 2012. ** **** *****, ******* ****** bottom ***.

**** ***** ********* ******, *******, *** strategy ********* *** ****** *** ******. DM's ********'* ****** *** **** ****** IPTV [**** ** ****** *********] *** ***** ongoing ***********. ** *** ********* ** the **** ****** ** ****** **** given *** *********** ******.

**** ****, ** **** *****, ***** things **** ****** ***. *******, ***** DM's *********** ******** *** ******* ** the **** ****** (****), ** ** just *** ***** **** **'* *********** strength ** *** *** **** **.

*** ******

*** *** ****** *** ****** *** $1.60 *** ****'* ********* ***** ******** ********, ********* *** ******* ****** '********'.

Comments (2)

Undisclosed Manufacturer #1

05/16/13 12:05pm

It's hard to imagine where most of their sales may be coming from except maybe government contracts where they standardized on Dedicated Micros equipment years ago and they keep purchasing replacement equipment.

John Honovich

IPVM | 05/16/13 03:31pm

Well, here's a new RFP that hard spec'd DM!

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts reporting, tutorials and software funded by subscriber's payments enabling us to offer the most independent, accurate and in-depth information.
Loading Related Reports