Canada NewsWire
VANCOUVER, CANADA, August 15, 2016
~Avigilon reports record quarterly revenue of $85.7 million; Investments delivering new products and increasing market share~
VANCOUVER, CANADA, August 15, 2016 /CNW/ - Avigilon Corporation ("Avigilon" or the "Company") (TSX: AVO), provider of trusted security solutions, today reported financial results for the three and six months ended June 30, 2016. All figures are in United States ("US") dollars unless otherwise stated.
Second Quarter 2016 Financial Highlights
"We've increased revenue for the 34th consecutive quarter on a year over year basis, captured additional market share and continued to invest for growth," said Alexander Fernandes, Avigilon's Founder, President, Chief Executive Officer and Chairman of the Board. "To expand our addressable market, we reduced prices on our H3 camera line and select NVRs and achieved record overall unit sales and revenue. This adjustment also increased cash flow from operations and benefited gross profit dollars at the expense of gross margin as a percentage of revenue. Over time, we expect gross margin to increase due to greater economies of scale, and growing revenues from patent licensing and video analytics.
"To support long-term growth we continued to invest in every department, notably in sales and marketing, manufacturing capabilities, and research and development. We're advancing our video analytics, such as our recently announced Avigilon Appearance Search technology, and plan to launch several new exciting video analytics-enabled products in the coming weeks."
Second Quarter 2016 Business Highlights
Summary of Second Quarter 2016 Financial Results
| | | ||||
| Three Months Ended | Trailing Twelve Months Ended | ||||
(In thousands of US dollars except margin and | Q2 2016 | Q2 2015 | % Change | Q2 2016 | Q2 2015 | % Change |
| (June 30, 2016) | (June 30, 2015) | | (June 30, 2016) | (June 30, 2015) | |
| (Unaudited) | (Unaudited) | | (Unaudited) | (Unaudited) | |
| | | | | | |
Revenue | 85,682 | 72,972 | 17% | 309,630 | 268,419 | 15% |
Gross Profit | 42,951 | 42,290 | 2% | 169,518 | 155,148 | 9% |
Gross Margin Percentage | 50% | 58% | NA | 55% | 58% | NA |
Total Operating Expenses | 43,690 | 36,189 | 21% | 151,223 | 124,139 | 22% |
Adjusted EBITDA | 8,003 | 12,487 | -36% | 46,750 | 51,474 | -9% |
Adjusted EBITDA Margin Percentage | 9% | 17% | NA | 15% | 19% | NA |
Net (Loss) Income (IFRS) | (1,965) | 1,837 | -207% | 10,636 | 32,736 | -68% |
Adjusted Earnings | 2,573 | 5,849 | -56% | 24,779 | 32,682 | -24% |
Basic (Loss) Earnings Per Share (IFRS) | (0.05) | 0.04 | -225% | 0.24 | 0.70 | -66% |
Diluted (Loss) Earnings Per Share (IFRS) | (0.05) | 0.04 | -225% | 0.22 | 0.69 | -68% |
Diluted Adjusted Earnings Per Share | 0.06 | 0.12 | -50% Werbung Mehr Nachrichten zur Avigilon Corporation Aktie kostenlos abonnieren
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