March Networks Revenue Continues Fall
By: John Honovich, Published on Mar 02, 2010In calendar Q4 2009, March Networks revenue continued to fall, though at a slower rate than the previous quarter. This quarter, revenue was down 15% (though more than half of the drop is attributed to exchange rate fluctuations).
Their quarterly call slides provide more details:
- Fixed systems were down only 8% but mobile was down 33%
- While Wal-Mart was only 8% of revenue a year ago, they are now 13% of March's revenue.
- Next quarter, they plan revenue will grow by less than 10% over one year ago (it's obviously unclear how much less it will be)
- March disclosed that they "experienced year to date revenue growth in the Commercial Industrial market." This is important because this is key to their IP growth strategy/Cieffe acquisition. However, since they do not reveal how significant the growth was, it's hard to determine how well March is doing in this market.
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