Pelco has announced a layoff of 100 employees, or approximately 4% of their global workforce of 2400. Pelco cites 3 main factors: "the result of slower than expected sales recovery from early 2009 declines, increased efficiency in manufacturing, and our anticipation of weak industry growth for 2010." In December 2008, Pelco had a smaller layoff.
As we demonstrated in our examination of public video surveillance company results, sharp drops in 2009 revenue were commonplace across the board for larger video surveillance companies. Some of the leading IP only providers growth fell to near zero growth (see our examination of Axis and Mobotix's recent results). Many of the analog incumbents growth fell 10% or more. Furthermore, the public results show many companies revenue declines accelerating towards the end of 2009.
Avigilon said earlier this year they would shift their strategy to maximizing profits.
Now, they are delivering it and the stock market is...
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