No Good News for Vicon: Q2 2010 Results Examined
Published May 11, 2010 00:00 AM
PUBLIC - This article does not require an IPVM subscription. Feel free to share.
The financial challenges for Vicon continue with Q2 2010 financial results extending Vicon's streak of declining revenue. Net sales decreased 23% [link no longer available] to $11.4 Million for the Q1 2010.
Vicon's current market capitalization of approximately $20 Million is only modestly more than their cash in the bank (about $14 Million).
Vicon noted that, "While quoting activity has improved recently, closing business still remains a challenge."
In April, we noted that Vicon's CEO acknowledged in their annual report that the market acceptance of IP was quicker than they expected.