Q1 2010 Revenue DropBy: John Honovich, Published on Jun 08, 2010
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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