Vicon Revenue Decline Decelerating

Spring 2010 financial results bring relatively good news for Vicon. While the company's revenue continued to decline 11% year over year (down to $13.1 Million, this decline is significantly less than previous quarters where revenue decline of over 20% were common.

A few specific data points disclosed:

• US sales decreased 5% to $7.4 million
• International sales decreased 18% to $5.7 million
• Gross margins decreased to 42.8% compared with 44.1% in the year ago period, contributing cause: "competitive pressures and less favorable product mix on certain large project sales"
• "The sales and order intake decreases across all business segments were due to weakening worldwide economic conditions as funding for new construction and renovation projects significantly slowed during the current quarter. "

The reduced revenue declines are consistent with relatively improved results from ADT/Tyco's security operations.