Q1 09 Financial Results Announced

By: John Honovich, Published on May 31, 2009

March Networks released it financial results this week, confirming 2% revenue growth Q1 09 compared to Q1 08. This is consistent with their pre-announcement.

More interesting is the release of their analysis and comments on their business [link no longer available]:

  • Latin America, Middle East reported to be strong; US, Europe, reported weak (customer delays)
  • Wal-Mart accounted for approximately $1.6M revenue this quarter, down from $2.8M a year ago; still 8% of March revenue last quarter but probably only a fraction of Wal-Mart's video surveillance spending
  • March will not provide revenue and profitability guidance going forward. This certainly reflects the uncertainty in the market.
All of this noted, I still think the most important element of March's future is how well Cieffe is integrated and utilized.

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