This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Vicon Reports Second Quarter Results

Vicon Industries, Inc. (VII: NYSE-AMEX), a designer and producer of video security and surveillance systems, today reported operating results for the second fiscal quarter ended March 31, 2010. The announcement was made by Chairman and CEO Ken Darby, who said results reflect the low revenue level, as a result of continuing weak order rates and customer imposed delivery delays.

Net sales for the second fiscal quarter were $11.4 million, a decrease of 23% compared with $14.7 million in the second quarter of the prior fiscal year. A net loss was incurred of $690,000 ($.15 per share), compared with net income of $390,000 ($.08 per diluted share) in the prior year quarter.

For the six months, net sales were $22.5 million, a decrease of 26% 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.

Commenting on the second quarter results, Mr. Darby said U.S. sales declined 18% to $6.2 million while foreign sales were off 27% 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. Business is off in all our normal markets and sales channels. While quoting activity has improved recently, closing business still remains a challenge. The U.K. and Europe has the dual problem of weak economies and declining currency values,” said Mr. Darby.

Gross margins in the second quarter were 41.1%, compared with 44.6% in the prior year quarter. The lower margins reflect competitive pressures as well as the effect of lower sales in relation to a primarily fixed overhead structure. Operating costs in the second quarter declined $238,000 to $5.7 million, principally as a result of lower selling and G&A costs.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,077.89 +47.68 0.26%
S&P 500 2,090.79 +8.91 0.43%
NASDAQ 4,802.9050 +29.4330 0.62%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs