March Networks Best Quarter in a Few Years

By: John Honovich, Published on Aug 26, 2010

Calendar Q2 2010 financial results show that March Networks had its best performance in over 2 years. This reverses a trend of significant revenue decline and net losses.

Important details noted in the quarterly call slides include:

  • 10% revenue increaase YoY
  • $26.3M Q2 2010 calendar quarter
  • GAAP profitable 1st time in 3 years
  • Fixed product revenue up 45%, Mobile product revenue down 20%
  • North American revenue up 42%, EMEA revenue down over 50%
  • Total gross margins up to 46% from 42%
  • Company expecting 10%+ revenue growth over rest of the year

Additionally, March released a new Investor Relations section on their website that includes a series of video interviews with March executives. The videos are standard corporate marketing. The one serious misleading claim is that March's growth rate outpaced the overall market's over the last 5 years. While this may be true, the larger risk is how March's growth dropped so precipitously over the last few years. Specifically, March's ability to migrate from a DVR company to an IP video provider remains as a key concern.

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