Q1 2010 Revenue DropBy John Honovich, Published Jun 08, 2010, 08:00pm EDT
Verint's revenue for their Video Intelligence Business Unit dropped sharply from Jan to Mar 2010 compared to the same period in 2009. Verint notes:
"Video Intelligence revenue decreased approximately 24%, or $10.2 million, to $31.5 million in the three months ended April 30, 2010 from $41.7 million in the three months ended April 30, 2009. The decrease was almost entirely due to the product delivery of an order from a major customer in the three months ended April 30, 2009. "
Segment contribution dropped over 50% from about $19.8 million to 9.2 million. This indicates that the business lost or new business captured was at a significantly lower gross margin percentage.
Contrast this to Verint's 2007-2009 video surveillance revenue. This drop returns Verint's video revenue to 2008 levels, still off significantly from 2007 revenue levels.
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