Pelco's Financial and Strategic Status ExaminedBy: John Honovich, Published on Mar 27, 2010
In a March 2010, Pelco's CEO discussed [link no longer available] their falling financial results and their efforts to transition to IP video surveillance. Key comments made in the article included:
- Pelco "put a plan together well before the end of 2008 for 2009 and of course we fell short of that"
- "Obviously our sales decreased. But they were very consistent with a lot of other public companies within our industry." As we examined in our IP rebounds, analog sinks report, 10-20% revenue declines were common for analog CCTV manufacturers.
- Financial results were in line with parent company. According to the Schneider Electric 2009 annual report, total revenue dropped approximately 15% in 2009.
- Pelco was "hit harder in the mature economies."
- "Everybody considers us the legacy elephant who can’t move to get to IP"
- Pelco projects 2010 revenue is going to be flat: analog decline to be offset by IP increase
- "2009 rocked a lot of companies in our industry. People have had to dig deep, reset expectations, reset expenditures."