Shares of Avigilion Soar Post Q2 Earnings Results

The company reported revenue of $99.4 million compared to $85.7 million during the same time period in 2016.

stock-price-increase

In the days following the release of Avigilon’s (TSX:AVO) second quarter 2017 results on August 9, shares of the company have been on a tear, catapulted by an increase in profit and revenue growth.

Over a six-day period, shares of Avigilon have climbed 19.57 percent to reach $16.50 at the close on Tuesday (August 15).

According to the company’s press release, revenue for the second quarter totalled roughly $99.4 million–compared to $85.7 million during the same quarter in 2016–representing a 15.9 percent increase year-on-year.

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“In Q2, we significantly increased profit, achieved strong revenue growth, and continued to outpace the industry,” Alexander Fernandes, Avigilon’s CEO said in the release. “We successfully executed our strategy, led the industry with innovative new technology and solutions, and gained market share.”

In a conference call with investors, Fernandes commented that demand for security is increasing all around the world, and that its increase in revenue for the quarter “significantly outpacing the market’s estimated annual growth rate of six percent.”

“Our revenue remains diversified across many regions and verticals,” he continued.

During the call, James Henderson, COO and senior vice president of Avigilon, highlighted that the company introduced a number of new products during the quarter, including:

  • Avigilon Vehicle Search;
  • Avigilon Presence Detector–a first of its kind–designed to detect the presence of a person “even if they have stopped moving or are hidden”; and
  • Avigilon H4 Thermal Camera Line–which is designed to detect the movement of people in vehicles–to name a few.

Ric Leong, CFO and senior vice president of Avigilon, stated on the call that the company’s quarter revenue growth represents the 38th consecutive quarter increase on a year-over-year basis.

“Q[uarter] two was another strong year for Avigilon,” Leong said.

By Tuesday, analyst predictions stated that the company has a 14-day commodity channel index (CCI) of 169.73, which was initially created to stay within a -100 to +100 range, FLBC news writes.

“A CCI reading above +100 would imply that the stock is overbought and possibly ready for a correction,” the article states. “On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally.”

That said, FLBC states that the company has a 50-day moving average of 11.25, which is not far off the 200 moving average of 10.48, or the seven-day average of 11.81.

“Following moving averages with different time frames may help offer a wide variety of stock information,” the article suggests.

Year-to-date, shares of Avigilon have increased 28.71 percent, while its one-year period increase is slightly less at 25 percent.

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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

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