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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Vicon Reports Third Quarter Results

Gross margins in the third quarter were 40%, compared with 35.4% in the prior year quarter. The prior year quarter gross margin was adversely impacted by an unusually large warranty charge of approximately $180,000. Operating costs, excluding patent litigation expense, declined to $5.1 million compared with $5.7 million in the prior year period, principally as a result of cost reduction programs.

Vicon Industries, Inc. designs, engineers, assembles, and markets a wide range of video and access control systems and system components used for security, surveillance, safety, communication and process control purposes by a broad group of end users worldwide.

This news release contains forward-looking statements that involve risks and uncertainties. Statements that are not historical facts, including statements about the adequacy of reserves, estimated costs, Company intentions, probabilities, beliefs, prospects and strategies and its expectations about expansion into new markets, growth in existing markets, enhanced operating margins or growth in its business, are forward-looking statements that involve risks and uncertainties. Actual results and events may differ significantly from those discussed in the forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements.

                                 
Vicon Industries, Inc.
 
Condensed Statements of Operations
 
(Unaudited)
 

Three Months Ended June 30,

Nine Months Ended June 30,

 

2012

2011 2012 2011
==== ==== ==== ====
 
 
Net sales $ 11,722,000 $ 10,951,000 $ 36,546,000 $ 34,755,000
 
Gross profit 4,664,000 3,876,000 14,548,000 13,387,000
 

Selling, general and administrative expense

3,854,000 4,223,000 11,649,000 12,368,000
 

Engineering and development expense

1,286,000 1,515,000 3,959,000 4,428,000
 
Patent litigation expense -- 5,125,000 -- 5,375,000
 
Operating loss (476,000 ) (6,987,000 ) (1,060,000 ) (8,784,000 )
 
Loss before income taxes (478,000 ) (6,966,000 ) (1,002,000 ) (8,618,000 )
 
Income tax expense 19,000 2,548,000 57,000 2,063,000
 
Net loss $ (497,000 ) $ (9,514,000 ) $ (1,059,000 ) $ (10,681,000 )
 
Loss per share:
 
Basic $ (.11 ) $ (2.12 ) $ (.24 ) $ (2.38 )
 
Diluted $ (.11 ) $ (2.12 ) $ (.24 ) $ (2.38 )
 

 

Shares used in computing loss per share:

 
Basic 4,478,000 4,492,000 4,482,000 4,485,000
 
Diluted 4,478,000 4,492,000 4,482,000 4,485,000




2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,136.96 +40.06 0.22%
S&P 500 2,099.51 +0.98 0.05%
NASDAQ 4,977.8780 +10.7370 0.22%

Partners Compare Online Brokers

Free Reports

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