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w/e September 15, 2010 SCRI International, Inc -----------------------------------------------------------
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SCRI Caution on 2010 Broadcast Equipment Suppliers Financial Results
Companies are in the process of announcing Q3 and soon year end financials and are quick to compare and to emphasize the increase over 2009 results.
Considering the severe downturn in 2009, SCRI cautions our clients to be very cautious in the interpretation. A longer tem view is required.
How has the company performed over the past 3-5 years. The recent results by Avid are indicative of this -- see story below.
Avid Layoffs, Office Closings
In spite of the recent remarks in October by Gary Greenfield, chairman and CEO at Avid on the 2010 Q3 results, Avid just announced more layoffs and office closings.
“The steady revenue growth trend in both Avid’s business and our customers’ businesses is encouraging and we remain focused on improving our profit margin" stated Greenfield in October, in spite of the Q3 GAAP net loss of $10.0 million. Avid reported that revenues had increased to $165.1 million for the three-month period ended September 30, 2010, compared to $152.1 million for the same period in 2009.
Now Avid has just disclosed in a filing with the Securities and Exchange Commission last week that it will cut jobs in lower-growth regions and markets, and take a charge in the fourth quarter.
The company will also close portions of certain office facilities, it said in a regulatory filing.
Avid expects to incur charges of $10-$12 million related to the job cuts and $4 million related to the closure of the offices
According to an Avid spokesperson, some 120 Avid employees will lose their jobs; the announcement comes a little more than a year after Avid laid off 410 workers, or about 15 percent of its staff at the time. In another recent disclosure, Avid revealed that it plans to move its headquarters from Tewksbury to three office locations in Burlington, MA.
All this comes after the major rebranding exercise that Avid initiated jabout 18 months ago with the acquisitio of digital audio console manufacturer Euphonix.
Along with the Euphonix auqisition and the deletion of the Digidesign name, Avid's overall strategy was to unite five-previously disparate companies - Avid, Pro Tools, M-Audio, Pinnacle and Sibelius - under a single brand.
It remains to be seen whether the horizontal rebranding and homogenisation strategy can stem off loss of market share to such companies as Apple, whose Final Cut Pro and Logic Series workstations are increasingly prominent in the video post and film communities.
The new layoffs, facility closings and restructing charges just announced cast serious doubt on the success of this stratgey.
Quantel Posts Record Year
Quantel logged a "record" fiscal year, the company said this week. For the fiscal year ending Sept. 30, Quantel posted a profit of £9 million (US$14.3 million in current exchange rates). The result represented an increase of 125 percent over the previous fiscal year, which was a record for the company. Orders were up 34 percent over the previous year.
“We’re delighted with these results,” said Quantel CEO Ray Cross. “They have been achieved in the face of challenging market conditions which have seen many other companies in our sector struggling. On the very last day of the financial year, we took £10 million [US$15.9 million] in new orders from existing customers which will feed straight into next year’s figures.”
Again SCRI cautions our clients to review these results not against 2009, but over the past five years.
SCRI RESEARCH NEWS
2011-2012 Broadcast Pro Video Marketplace (B/PCM) tm
SCRI's 2011-2012 Broadcast Pro Video Marketplace (B/PCM) tm annual quantitative survey
data and reports are in the process of being tabulated and written, to be available in
early 2011, well ahead of NAB.
The data is derived from the "bottom-up" via direct
responses form thousands of end-users, rather than from manufacturers.
clients to be wary of those reports derived from manufacturer provided data, since
manufacturers in those cases a have a heavy investment in the outcome of the reports.
Similarly market research reports affiliated with trade associations with vested interests also need to be looked at with caution. SCRI is a 100 percent independent research firm, tracking the broadcast pro video sector for over 25 years, and is NOT affiliated with NAB, IABM or any other vested interest trade association.
SCRI also encourages our clients to check the methodology of any report to make sure that
is objective (end-user data) rather than subjective (manufacturer data) and also that the
data is based on scientific large scale sampling and focused (USA) rather than relatively
small samples with claims of worldwide projections.
Also it is important to note that SCRI is an independent research firm, tracking the broadcast pro video sector for over 25 years, and is NOT affiliated with NAB, IABM or any other vested interest trade association.
SCRI's annual major broadcast and pro video survey and reports, updated annually since
1984, provide 25 Product Reports along with an Executive Summary Industry Overview and a
Quantitative Analysis of 25 Product types across five vertical end user markets going back
For further information contact SCRI's Research Director, Desmond C. Chaskelson at
2010-2011 Broadcast/Pro Video Macro Industry Overview Report:
88 page report of analysis and information on the state-of-the-industry compiled from secondary online research sources including industry news sites, manufacturers sites, as well as SCRI's own weekly online News Briefs and Insider Reports.
2010-2011 Broadcast/Pro Video Micro Quantitative Product Data Report:
30-page report containing quantitative data tables, for all six verical end-user markets, as well as in total, plus a 6 page summary analysis of the quantitative data tables
2010 - 2011 Broadcast/Pro Video Product Reports (25):
Video Camcorders; ;Video Cameras; Camera Mounting Systems; Character Generators; Clip / Still Stores; Composite/Component Encoders; Digital Effects Processors; Graphics & Effects Software; Graphics & Effects Workstations; Master Control Switchers; Non-Linear Editing Systems; Production/Post Switchers; RAID Video Storage; Routing Switchers; Standards / Formats Convertors; TBC's / Frame Synchronizers; Telecine Equipment; Terminal Equipment; Up/Down Converters; Video Compression Encoders; Video Disk Recorders; Video Monitors; Video Servers; Video Test & Measurement; VTRs
Contact firstname.lastname@example.org for more information.
TECHNOLOGY NEWSBSkyB: "We know 3D is going to be big"
College Football in 3D to FedExField
Study: Glasses for 3D TV are no fun
INDUSTRY NEWSStrategic Analysis of the Media Technology Industry
SeaChange Q2 up but below expectations
Vertical End User Market Forecasts
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© 1984 - 2009 SCRI - SCRI INTERNATIONAL, INC (email@example.com). SCRI is an independent research and news
organization providing market research reports and objective coverage of the broadcast and pro
video sector and all major trade shows, including NAB and IBC, since 1984. SCRI and is not
affiliated with any trade organization or manufacturer.
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