Milestone Execs on Financials, China and Future

By: John Honovich, Published on Apr 29, 2019

Milestone has released a 44-page annual report for 2018, an atypical and unrequired move for a subsidiary of a large company, however, Milestone emphasized their aim to be transparent as a 'stand-alone' company within Canon.

milestone execs on financials china and the future

Milestone's CEO Lars Thinggaard [link no longer available] and CFO Lars Larsen [link no longer available] also spoke to IPVM not only about their financials but about business (or the lack thereof) in China and the future of conventional and cloud VMSes. In this note, we examine:

  • Milestone's growth rate compared to previous years and to the market as a whole
  • Their R&D expansion plans
  • The future of AI / video processing within XProtect
  • Why they have 'no direct presence' in China
  • Why Xinjiang concentration camps would be a 'clear no' for Milestone
  • How they operate as a 'standalone company' inside Canon
  • Why they expect future single digit VMS growth rates to be single digits
  • How they expect to grow Arcules alongside Milestone

********* *** ******** ***-**** ****** ****** *** 2018, ** ******** *** unrequired **** *** * subsidiary ** * ***** company, *******, ********* ********** their *** ** ** transparent ** * '*****-*****' company ****** *****.

milestone execs on financials china and the future

*********'* *** **** ********** [**** no ****** *********] *** CFO **** ****** [**** no ****** *********] **** spoke ** **** *** only ***** ***** ********** but ***** ******** (** the **** *******) ** China *** *** ****** of ************ *** ***** VMSes. ** **** ****, we *******:

  • *********'* ****** **** ******** to ******** ***** *** to *** ****** ** a *****
  • ***** *&* ********* *****
  • *** ****** ** ** / ***** ********** ****** XProtect
  • *** **** **** '** direct ********' ** *****
  • *** ******** ************* ***** would ** * '***** no' *** *********
  • *** **** ******* ** a '********** *******' ****** Canon
  • *** **** ****** ****** single ***** *** ****** rates ** ** ****** digits
  • *** **** ****** ** grow ******* ********* *********

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

Growth **** *****

*********'* ******* **** **% in **** ** ******** currency *****, * ******** from ****'* **%+ ****** rate. ****: *** ****** report ***** *% ******** in '*** *******' *** Milestone **** **** *** impacted ** ******* ******** rates.

****** ***, ****** ** a * - **% range ** ****** ******. Milestone **** **** **** believe *** ******* ****** for *** ******** (**-*****) is ****** ******, ***** we ***** ** *******. VMS ******** ** ** longer * ***** ****** market, **** *** ********** of ** ******* *** the ********* ** ***** as ** ************ ****** alternative (***, *.*.,*** ****** *** *** VSaaS ****** ****** **** - *****.***, *******, ***** Eye, *******, *******, *******, More).

** *** ***** ****, Milestone *** *** * breakthrough ******* ** ******* in **** ****, ***** we **** ***** ** impacting ***** ******.

R&D ********* *****

********* **** *** **** plan ** ************* ******** R&D ********, ******:

*** ******* **** ******* to ********** ********** ** increasing *** *********** ******** by ** *** **** by *** *** ** 2019.

*******, *********'* **** ****** report ***** *&* ******** was *********** **** **** over ****. ********* **** that ** ********* ******* of *** ****-***/************* ** Arcules *** ********* ******* they **** ** ************* increase *&* ***** ** 2019.

AI / ***** **********

*** **** *********** *&* project **** **** ********* and *** ******* ** is *** ** ***** processing, ** ************* ** **** **** post:

** **** ** ******* a ***** ** *** art ***** ********** ******* * ******** *** efficient ******** *********** ********** of ***** ******* ** you ** ******** ******** can ***** ** ******** innovative ********* ********* ********-********* video **********.

*******, ** *** ** public ******* **** *** so ** ** ******* when ** **** ** into ********** ** *** much ** ** ****** it **** ****.

***********

*** ***** ******* *** project ********* **** ********* has ********** ** ***'***********' (***** ******* ** for ****). *********** / ******** ***** ** ******** and ******* ******** ***** camera *** *****, **** or ** ********* **** achieve **** ** ***** side ** *******. ** could ** **** * notable ******* ****** *** differentiator ** ********* ***. 

China '** ****** ********'

*** *** ***** ****, Milestone ******** ***** *** their ***** ** ******. The **** ********* ******* was *** ***** **** is *** *********, ** their ******* ***** *****:

**********, *** *********'* ******* to ** ** *** in **** ** ********** since *** *** (*****) is *** *****'* ******* surveillance ****** *********** **% of ****** *****.

********* ********* **** **** have '** ****** ******** in *****' *** **** their ******** ** ******* 'very **** *****' ******* to ******** *** ***** re-sell *****.

*** *** ******** ********* noted *** **** ****** of ***** ****: (*) Intellectual ******** ********** *** (2) *** ********** ** teaming ** **** ***** partners *** *********** *** local ********.

Clear ** ** ********

*********'* ***** **** * 'clear **' **** ***** if **** ***** *********** in ************ ******** *** Xinjiang ************* *****. *** Xinjiang ***** ****** ***** crisis *** ***** ** lawmakers ** **** *** US *** ** **** called *** ****** ******* companies **** ***** *** Hikvision ********* **** ****.

********* *** ***** * particularly ********** ***** ******* abuse ** ********** ** this *************** ***** ** *** 'Copenhagen ******' ** ***** EULA, ***** ******* ************* *** unethical **** ** **********, most *******:

** **** *** ******** design *** *********, *********, or *******. ** **** design ***** **** ** would **** *** ***** ones ** ***.

***** ********* *** ************* in ***** ** ********* commendable, **** * ********* standpoint, **** *** ** a *********** ************.

Canon '**********'

**** ****, ** **** be * ***** ********** ******** *********. ***** ** *** many ** *** ******** were ********* ***** ********* remaining ***********, ********** **** Canon ********* ****, **** still *** ***** *** independently.

********* **** ** *** same ***** ******** * ****** ******** magazine **** *****:

*** ***** **** *** to **** * ****** of ******* ** *** new ******: ** *** not **** ** ** a *********** ***** *** the ****** *******, *** astand-alone ******* with its own governance structure. In fact, this meant that we built a Chinese **** around our company, where the parent ******* **** *** **** ****** ** *** *********, **** *** **** ****** ** *** ******** ********, ****** ******* *** ** ** *** ***** ****, and continue ** **** **** *********** to the parent company. Canon accepted this and continues to do so. [emphasis added]

*********, **** *** ******** are ****** ********* *** promoted ** ********* **** their ********** ***********, ******, both ********* *** *** largest ******* ********* ** their ********** **********. ******, even ****** ***** ******** both ** ****, ********* gave *** ******* ** both.

***** ***** *** * self-proclaimed ***-**** ****, ** still ***** ** ** possible **** *****, ** some ***** ** *** future, ****** *** ******* video ********* ********.

Slow *** ****** ******

********* ****, ******* *******, that *** ******** ****** would ** ** *** single ******, ***** ** agree. ****** **** *** and *** *** ******** for **** ***** ** come *** *** **** drivers *** ******** **** subsided *** *** *** driver (*****) **** ************ cut **** ***, ** some *****, ***** *** VMS ******** **** ** fall.

Arcules *** ********* ******

********* ** ********* ** its ****** ******** **** of ******* ***** *** software ******** (********* / XProtect) ********** **** ***** cloud *** ******** (*******), see: ********* ******** ********* **** Arcules.

********* ********* ******* ** 'an ********** *******' *** that **** ***** *** consolidate ******* ********** **** Milestone's. ** *** ***** hand, *********'* *** **** Thinggaard [**** ** ****** available] ** ************** ******** of *******, ** ******** management ******* **********.

**** *********'* ********* ***********, selling ***** *** ********** will ********* ****** *********'* potential ******, ** ********** to *********** **** ********, Genetec *** **** / Exacq *** *** *** running ***** ***** ********* inside ***** ******** **********.

**********, ** **** ** interesting ** *** ** Milestone *** ** ****** grow ****** *** ******** overall ** ****** ***** VMS ******** *** ********** from ***** / *****'* cloud *** ***.

Comments (3)

*** ***** ***** *******? The ******* **** *** impressive, *** *** ***** about ******* ****** **** it *** ****-*********

*** ******* ********* ************** ***** ****** ************* **** ***** ************** ***** ***** *** as * ********** ******** *** ********************.

* **** ***** ******* up *** **** ********* paid ** ****** *****, but **'* ***** ** a ********** ** ***** Danmark */*, *** **** just **.* *** *** in ***** *** **** (and **** *** *** in ****). *** *'* no ********** *** * quickly **** ** ****** any ***** ** *** of ****. **'* * whole ***** ******, ****'* for ****. **** *** them.

***'** **** **** *********** nuggets **** **** ***:

***** ******** ***** *** confronted******* *** ********* **** to********* *** ******* ******** and** *** ********** ** investments** ******** ** ********** our *********.

*****.. **** ** **** clear ** ***...

* ***'* ******* ***** is * ****** ** Milestone. ** ****** ** the *-***** ***** *** down *** *** ** link * ******* *** event ** * *** preset ** * ******, you'd ******** ******** - like ** - **** the ****** ** *** "cloud", *** *** ******* and ******* ** ******* meaningful ******* ** ** aging, ********** *** ************ complex ********. **** **** a **** ******* *** Milestone ************* ******** ** get * ***** ** the ********* ***** ** there. **'** ******* ******* XML ****** *** ****** a *** ** * DB.

**'* **** *** ** to ****** **** ***** of ********** ********. **'* a *** ** ********** it *****, **** ** here, * ***** ***** IoT ** * ******* there, *** ** *** meantime *** *** ***** just **** **** ** Verkadas *****, ***** ***********.

 

 

** *** ******** *** end ***** **** **** some ** ******** *****, sweet ***********.

****'* *** ***** * asked * ****** ** VMSes, ********* *********, *.*., when *** **** ***** to ***** ****** ***** access ******** *** ***** VMS ********. * *** not *** * ***** answer **** ********* ****** Exacq **** ** **** be ******** ** ****.

* ***** **** *** convenience ****** ** ****** access ******* **** ** (gulp) **** ********** ** valued ** *** *****.

** ******** **** ****/************ AND *** ***** *** threats ** *********'* ******. 

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