Vicon Reports Quarterly Results
Vicon Industries Inc. released its second quarter results, announcing a 23-percent decrease in net sales in the same period a year ago.
The company reported revenue of $11.4 million for the three months ended March 31, 2010, compared to the $14.7 million recorded in the same period last year. For the six months, new sales were $22.5 million, a decrease of 26 percent compared with $30.4 million in the first six months of the prior fiscal year. The net loss totaled $1,387,000 ($.30 per share), compared with net income of $898,000 ($.19 per diluted share) in the prior year six-month period.
Additionally, Vicon Chairman and CEO Ken Darby says the results reflect the low revenue level, as a result of continuing weak order rates and customer imposed delivery delays. Furthermore, he reports that U.S. sales declined 18 percent to $6.2 million while foreign sales were off 27 percent to $5.2 million.
“We continue to see weak demand worldwide as evidenced by the order intake for the quarter of $11.8 million and $25.5 million for the six months,” says Darby. “Business is off in all our normal markets and sales channels. While quoting activity has improved recently, closing business still remains a challenge.”
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