PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Avigilon Corporation

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Avigilon Corporation Announces Year-end and Fourth Quarter 2012 Results - Avigilon Corporation, a leader in high-definition (HD) surveillance systems, announced its financial results for the three and 12 months ended December 31, 2012. All figures are stated in Canadian dollars unless otherwise noted (TSX: AVO) -
Avigilon Corporation Announces Year-end and Fourth Quarter 2012 Results


NewswireToday - /newswire/ - Vancouver, British Columbia, Canada, 2013/02/28 - Avigilon Corporation, a leader in high-definition (HD) surveillance systems, announced its financial results for the three and 12 months ended December 31, 2012. All figures are stated in Canadian dollars unless otherwise noted (TSX: AVO) - TSX: AVO

Your Banner Ad Here instead - Showing along with ALL Articles covering Audio/Video Equip./Surveillance Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


2012 Financial Highlights
• Revenue was $100.3 million, an increase of 67% from $60.0 million in 2011.
• Gross margin was 49%, up from 46% in 2011.
• EBITDA was $12.7 million, a 92% improvement over $6.6 million in 2011. (See "Non-IFRS Measures" below.)
• Net income was $7.2 million, an 87% increase compared to $3.8 million in 2011.

Fourth Quarter 2012 Financial Highlights
• Revenue was $32.6 million, an increase of 73% over Q4 2011 revenue of $18.8 million.
• Gross margin was 50%, in line with 50% a year earlier.
• EBITDA was $5.3 million, a 120% improvement over Q4 2011 EBITDA of $2.4 million. (See "Non-IFRS Measures" below.)
• Net income was $3.0 million, an 88% increase compared with net income of $1.6 million in Q4 2011.

"We are very pleased with our 2012 performance," said Alexander Fernandes, president and chief executive officer at Avigilon. "We delivered substantial top line improvements and nearly doubled both EBITDA and net income, while also strategically investing in the business to support our ongoing growth plans. There are significant growth opportunities in the worldwide surveillance market. As such, we remain highly focused on further expanding our global sales team, continuing to deliver innovative products and investing in marketing to build more brand awareness."

Financial Review
Avigilon reported 2012 annual revenue of $100.3 million, an increase of 67%, or $40.3 million, compared with revenue of $60 million for 2011. Revenue growth continues to be driven by a strong rise in product sales volumes worldwide, reflecting sales of new product offerings the Company introduced throughout 2012, entry into new global markets and greater customer adoption in existing markets. Avigilon experienced strong year-over-year sales growth across all six of the Company's key target geographic regions, particularly in areas where the Company expanded sales staff over the past year.

Gross margin was $49.4 million in 2012 (49% of revenue), compared with $27.5 million (46% of revenue) the previous year. The year-over-year increase in gross margin reflects a sales mix shift toward more profitable products, as well as the impact of higher purchasing power, greater economies of scale and improved manufacturing efficiencies. Although the gross margin increased throughout the year, with the Company's near-term objective of rapid growth in revenue and market share, management does not expect significant additional margin growth through 2013.

Annual selling and marketing expenses were $25.0 million in 2012, a $10.7 million, or 75%, increase compared to $14.2 million in selling and marketing expenses in 2011. The increase reflects planned spending to significantly expand Avigilon's global sales team and marketing efforts, which the Company believes will drive future revenue growth. The Company plans to further expand its sales team and continue to strategically invest in marketing in 2013. As a result, sales and marketing expenses could increase as a percentage of revenue in the earlier part of the year and start to decline by the end of the year. Over the longer-term, the Company expects selling and marketing expenses as a percentage of revenue to decline.

Research and development (R&D) expenses, net of related income tax credits, were $5.0 million for 2012, a $1.9 million, or 65%, increase compared to $3.1 million in 2011. Gross R&D spend was $6.4 million in 2012, compared to $4.0 million in the prior year. The increase in spending is due to additional new hires, in line with the Company's plan to expand its product development team to continue to enhance its product offering. Avigilon expects to continue to increase its R&D investment to support new product development, bringing the Company to more typical industry levels for R&D as a percentage of revenue.

General and administrative expenses for 2012 were $8.9 million, an increase of $4.5 million, or 102%, from $4.4 million in general and administrative expenses for 2011. The increase was primarily due to additional personnel and their related expenses to support Avigilon's growth and its public company status. The Company expects general and administrative expenses to increase in support of its continued growth plans. However, Avigilon believes these expenses will not increase in proportion to revenue growth.

EBITDA was $12.7 million in 2012, an increase of 92%, or $6.1 million, compared to $6.6 million in 2011. The year-over-year improvement primarily reflects increased revenue. 2012 net income was $7.2 million, up 100%, or $3.4 million, compared with net income of $3.8 million in 2011. Earnings per share were $0.22 (basic) and $0.20 (diluted) for 2012, compared to $0.20 (basic) and $0.14 (diluted) a year earlier.

As at December 31, 2012, Avigilon had cash and cash equivalents of $50 million, up from $12.4 million as at December 31, 2011.

At December 31, 2012, Avigilon had 37,705, 799 basic and 41,857, 199 diluted shares outstanding.

Financial statements can be downloaded from the Avigilon website at or SEDAR at

Conference Call

Avigilon has scheduled a conference call to discuss these results on Thursday, February 28, 2013, beginning at 5:00 pm. EDT (2:00 pm. PDT). To access the live call, dial 647-427-7450 or 1-888-231-8191, or view the webcast at A replay will be available for one year on the Company's website, and for one week by dialing 778-371-8506, 416-849-0833 or 1-855-859-2056, reference number 90516745.

Non-IFRS Measures

The term "EBITDA" refers to earnings before deducting interest, taxes, depreciation, amortization, foreign exchange gain or loss, and stock-based compensation. Management believes that EBITDA is a useful measure as it provides an indication of the operational results of the business prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset amortization. EBITDA does not have a standardized meaning prescribed by International Financial Reporting Standards (IFRS) and is not necessarily comparable to similar measures provided by other companies. Accordingly, investors are cautioned that EBITDA should not be construed as an alternative to operating income or net income determined in accordance with IFRS as an indicator of the Company's financial performance or as a measure of its liquidity and cash flows.

About Avigilon

Avigilon (TSX: AVO) is defining the future of protection through innovative high-definition surveillance solutions. Delivering the world's best image quality, our industry-leading HD network video management software and megapixel cameras are reinventing surveillance. Information about Avigilon can be found at

Forward Looking Statements

Certain statements contained in this news release, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans","expects" or "does not expect","is expected","budget","scheduled","estimates","forecasts","intends","anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may","could","would","might" or "will" be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, we have made numerous assumptions. Although our management believes that the assumptions made and the expectations represented by such statement or information are reasonable, there can be no assurance that any forward-looking statement or information referenced herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks, uncertainties and other factors include, among other things those risks identified in Avigilon's prospectus filed on SEDAR at

Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of Avigilon. Accordingly, readers should not place undue reliance on forward-looking statements or information. Avigilon undertakes no obligation to reissue or update any forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements and information herein are qualified by this cautionary statement.

Your Banner Ad Here instead - Showing along with ALL Articles covering Audio/Video Equip./Surveillance Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


Written by / Agency / Source: Avigilon Corporation


Availability: All Regions (Including Int'l)


Traffic Booster: [/] Quick Newswire Today Visibility Checker


Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

# # #
  Your Banner Ad showing on ALL
Audio/Video Equip./Surveillance articles,
CATCH Visitors via Your Competitors Announcements!

Avigilon Corporation Announces Year-end and Fourth Quarter 2012 Results

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Publisher Contact: Press Office - 
604-630-3410 media[.]
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Avigilon Corporation securities in any jurisdiction including any other companies listed or named in this release.

Audio/Video Equip./Surveillance via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Read Latest Articles From Avigilon Corporation / Company Profile

Read Audio/Video Equip./Surveillance Most Recent Related Newswires:

Axis Expands its Network Audio Offering for Smart Background Music and Public Address Systems
Avigilon Announces Avigilon Blue - A New Subscription-based Cloud Service Platform Powered by Microsoft Azure
Avigilon Solutions Protect World-Class 800,000 Sq. Foot Facility in Texas
Avigilon Launches New H4 IR PTZ Camera Line
Avigilon Adds Faces to Avigilon Appearance Search Technology
Avigilon Appearance Search Video Analytics Technology Winner of Benchmark Innovation Awards 2017
Avigilon Advanced Self-Learning Video Analytics Selected to Protect Schools District Wide in Metro Atlanta, Georgia
Avigilon Reveals New IoT Radar Sensor with Avigilon Presence Detector
Avigilon Access Control Manager Enhances Security with Biometric Integration
Avigilon Continues H4 Platform Expansion with Launch of H4 Mini Dome Camera Line
eMirrors and Smart Cameras Set to Transform North American and European Rear-view Mirrors Market Finds Frost & Sullivan
Avigilon Joins NVIDIA in Silicon Valley to Showcase Advanced AI Video Analytics at GPU Technology Conference
Avigilon Security Solutions Selected to Protect the City of San Francisco’s Historic Union Square
Avigilon Expands H4 SL Platform with 3 MP and Indoor Models
Axis Launches Explosion-protected Cameras for Agile Incident Management and Business Efficiency

Boost Your Social Network
& Crowdfunding Campaigns

NewswireToday Celebrates 10 Years in Business



Visit  La Bella Bakery Artisan Bakery Arizona

  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (