Mobotix Growth Rebounds

By: Carlton Purvis, Published on Sep 05, 2013

After its revenue growth flatline over the past year, the latest financials from Mobotix show that company's growth has rebounded moderately. In this note we examine the company's Q3 financial report, released at the end of last month (a more granular version of the report here).

Financial Highlights

***** **** ********* **% in ** ** **.* million ***** ($**.* ***). This ** *** ******* increase *** ******* *** seen ** * *****.
***-******** ****** *** ******* Mobotix’s ******. ***** ******* of ******, ***** **** ~31% *** ******* *** more **** **% (*.* million *****/$**.* ******* ***) of *** *****. **** success ******* ** *** home ********* ***** **** Mobotix ** ******** * more ****** *******.
******* **** ****** ***** have ********* ~**% ***** sales ** ***** ******* have ******** ****** *%, following * ******* ***** in *** ******** ** customer ********** *** **** cameras.

High ****** *******

***** ****** ****** ** up ** **%, ******** to **** **** ** 11%. ***** ****** ********* 2.6 ****** **** **.*% to **.*%.

*** ***** ******* *** extremely **** *** * camera ************, *** ***** argue *** ****. ** a **.*% ***** ****** margin, ** ******* ***** ******* for $**** ****, ** costs them ** ******* ** ~$280 ** ****. ******* could **** ******* *** $600 *** **** ******* gross ****** ******* ** Axis *** ********. **** such * ***** ***** drop, ******* ***** **** far **** ***** ** far **** *********. **** noted, ******* *** ********* chosen * ******** ** high ***** ******* **** maximizing ****** *****. **** is ******* ** **** the ****** ****** *** actually ********* **** ** was ******* ** * high ******.

New ******* ******

***** **** ****** ***** Mobotix **********, ** ***** **** the **** ** *** product ******** *** ******* them ****. ***** ****, Mobotix *** ******** * number ***** *******/******** ** **** **** **** ****** **** ****** Mobotix **** ** ****** trend. *** **** ** of ************** ****************** *** *** ******** launched ********.

Market ****** ********

*** ****** ********* *** following ***** ******* **** IHS ******** ** *** CCTV ******. *** ******* network ****** ***** ** in ****** ** * CAGR ** **.*% (**. analog *.*%) *** ** megapixel ******* **** ** increase ***** ******** ********** ********. Mobotix **** **** ** an "********** ****** ******* with *********** ****** ****** term."

Future *******

******* ******* ************ ** their ***** **** ***********, estimating * *% ****** in ***** ******* *** the ******* ********* **** and **% *** *** mid-term.

Comments (3)

Undisclosed Manufacturer #1

09/12/13 07:22am

it seems like this report from Mobotix, is not a normal financial statement describing what we called "Q3 = july + august + september". am i right?

Carlton Purvis

In reply to Undisclosed Manufacturer #1 | 09/12/13 01:51pm

Undisclosed, what do you mean by "not a normal financial statement?"

John Honovich

IPVM | In reply to Undisclosed Manufacturer #1 | 09/12/13 02:07pm

Their financial calendar is slightly off from the normal calendar. For instance, this report covers 'April 1, 2013 to June 30, 2013' where calendar Q3 is July / August / September as you note.

The numbers and trends are perfectly valid as they compare as the same 3 months from previous years.

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