Revenue Drops SignificantlyBy: John Honovich, Published on Sep 02, 2009
Top 10 IP camera manufacturer Vivotek's revenue dropped significantly in the 1st half of 2009 compared to the 1st half of 2008. These results are provided in Vivotek's H1 financial update (only available in Chinese but Page 6 has the income statement).
In the first half of 2008, revenue was approximately $20 M USD. By contrast, in the first half of 2009, revenue was only about $14.5 M USD. This is a 25% drop in revenue.
In an e-mail, Vivotek cited, "The main reason is the big sales drop from one of our ODM customer. Our VIVOTEK brand sales is growing."
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