AVAYA Inc. (AV, Financial) filed Quarterly Report for the period ended 2012-06-30.
Aviva Plc (adr) has a market cap of $14.86 billion; its shares were traded at around $10.31 with and P/S ratio of 0.3. The dividend yield of Aviva Plc (adr) stocks is 8%.
Gross margin for the three months ended June 30, 2012 and 2011 was $623 million and $653 million, respectively, a decrease of $30 million or 5% and includes incremental gross margin from the Radvision business for the period June 5, 2012 through June 30, 2012 of $8 million. The decrease is attributable to decreased sales volumes, pricing pressures and an unfavorable impact of foreign currency. These decreases were partially offset by the success of our gross margin improvement initiatives as discussed below, the impact of lower amortization of technology intangible assets, reductions in integration-related costs related to the acquisition of the NES business, a favorable change in our product mix as we had lower sales of lower margin products and lower costs associated with our employee incentive plans, which are driven by our actual financial results relative to established targets. The gross margin percentage increased to 49.8% for the three months ended June 30, 2012 from 47.6% for the three months ended June 30, 2011. The increase in gross margin percentage is primarily due to the success of our gross margin improvement initiatives as discussed below, the impact of lower amortization of technology intangible assets, reductions in integration-related costs related to the acquisition of the NES business and lower costs associated with our employee incentive plans.
AGS gross margin for the three months ended June 30, 2012 and 2011 was $300 million and $304 million, respectively, a decrease of $4 million or 1%. The decrease in AGS gross margin is primarily due to lower revenues and an unfavorable impact of foreign currency, partially offset by the benefit from cost savings initiatives, which include productivity improvements. The AGS gross margin percentage increased to 48.7% for the three months ended June 30, 2012 from 47.3% for the three months ended June 30, 2011. The increase in AGS gross margin percentage is primarily due to the continued benefit from cost savings initiatives, which include productivity improvements. We have redesigned the Avaya support website and are transitioning our customers from an agent-based support model to a self-service/web-based support model. These improvements have allowed us to reduce the workforce and consolidate support in lower-cost geographies.
Revenue in the U.S. for the nine months ended June 30, 2012 and 2011 was $2,092 million and $2,231 million, respectively, a decrease of $139 million or 6%. The decrease in U.S. revenue was primarily due to lower revenues associated with our infrastructure solutions portfolio, maintenance services and networking products, partially offset by higher sales associated with contact center applications and professional services. Revenue in EMEA for the nine months ended June 30, 2012 and 2011 was $1,022 million and $1,106 million, respectively, a decrease of $84 million or 8%. The decrease in EMEA revenues was primarily due to lower revenues associated with our infrastructure solutions portfolio, German rental base and maintenance services associated with our infrastructure solutions portfolio, as well as an unfavorable impact of foreign currency, partially offset by an increase in sales of our new networking product offerings. Within EMEA, revenue in Germany decreased due to a decline in our rental base as lease renewals are typically at lower rates, which is expected to continue for the remainder of fiscal year 2012. Revenue in APAC for the nine months ended June 30, 2012 and 2011 was $371 million and $382 million, respectively, a decrease of $11 million or 3%. The decrease in APAC revenue is primarily attributable to lower revenues associated with our infrastructure solutions portfolio, partially offset by higher maintenance services and professional services. Revenue in Americas International for each of the nine months ended June 30, 2012 and 2011 was $409 million, as the increase in sales volume associated with our support services was offset by an unfavorable impact of foreign currency.
Gross margin for the nine months ended June 30, 2012 and 2011 was $1,940 million and $1,914 million, respectively, an increase of $26 million or 1%. The increase is primarily due to the success of our gross margin improvement initiatives as discussed below, the impact of lower amortization of technology intangible assets, reductions in integration-related costs related to the acquisition of the NES business and lower costs associated with our employee incentive plans, which are driven by our actual financial results relative to established targets, and a favorable change in our product mix as we had less sales of lower margin products. These increases were partially offset by decreased sales volumes, pricing pressures and an unfavorable impact of foreign currency. The gross margin percentage increased to 49.8% for the nine months ended June 30, 2012 compared to 46.4% for the nine months ended June 30, 2011. The increase in gross margin percentage is primarily due to the success of our gross margin improvement initiatives as discussed below, the impact of lower amortization of technology intangible assets, reductions in integration-related costs related to the acquisition of the NES business, lower costs associated with our employee incentive plans and a favorable change in our product mix as we had lower sales of lower margin products.
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Aviva Plc (adr) has a market cap of $14.86 billion; its shares were traded at around $10.31 with and P/S ratio of 0.3. The dividend yield of Aviva Plc (adr) stocks is 8%.
Highlight of Business Operations:
Revenue in the U.S. for the three months ended June 30, 2012 and 2011 was $666 million and $737 million, respectively, a decrease of $71 million million or 10%. The decrease in U.S. revenue was primarily due to lower revenues associated with our infrastructure solutions portfolio, maintenance services and networking products, partially offset by higher sales associated with professional services. These decreases were particularly noticeable in the government business. Revenue in EMEA for the three months ended June 30, 2012 and 2011 was $330 million and $364 million, respectively, a decrease of $34 million or 9%. The decrease in EMEA revenue was primarily due to an unfavorable impact of foreign currency, as well as lower revenues associated with our infrastructure solutions portfolio, German rental base and maintenance services associated with our infrastructure solutions portfolio. Adjusted for the unfavorable impact of foreign currency, revenue in Germany decreased primarily due to a decline in our rental base as lease renewals are typically at lower rates, which decline is expected to continue for the remainder of fiscal year 2012. Revenue in APAC for each of the three months ended June 30, 2012 and 2011 was $128 million, as higher revenues associated with our networking portfolio and maintenance and professional services were offset by lower revenues associated with our infrastructure solutions portfolio and an unfavorable impact of foreign currency. Revenue in Americas International was $126 million and $143 million for the three months ended June 30, 2012 and 2011, respectively, a decrease of $17 million or 12%. The decrease in Americas International revenue was primarily due to lower revenues associated with our infrastructure solutions and contact center portfolios and an unfavorable impact of foreign currency, partially offset by an increase in Networking revenues.Gross margin for the three months ended June 30, 2012 and 2011 was $623 million and $653 million, respectively, a decrease of $30 million or 5% and includes incremental gross margin from the Radvision business for the period June 5, 2012 through June 30, 2012 of $8 million. The decrease is attributable to decreased sales volumes, pricing pressures and an unfavorable impact of foreign currency. These decreases were partially offset by the success of our gross margin improvement initiatives as discussed below, the impact of lower amortization of technology intangible assets, reductions in integration-related costs related to the acquisition of the NES business, a favorable change in our product mix as we had lower sales of lower margin products and lower costs associated with our employee incentive plans, which are driven by our actual financial results relative to established targets. The gross margin percentage increased to 49.8% for the three months ended June 30, 2012 from 47.6% for the three months ended June 30, 2011. The increase in gross margin percentage is primarily due to the success of our gross margin improvement initiatives as discussed below, the impact of lower amortization of technology intangible assets, reductions in integration-related costs related to the acquisition of the NES business and lower costs associated with our employee incentive plans.
AGS gross margin for the three months ended June 30, 2012 and 2011 was $300 million and $304 million, respectively, a decrease of $4 million or 1%. The decrease in AGS gross margin is primarily due to lower revenues and an unfavorable impact of foreign currency, partially offset by the benefit from cost savings initiatives, which include productivity improvements. The AGS gross margin percentage increased to 48.7% for the three months ended June 30, 2012 from 47.3% for the three months ended June 30, 2011. The increase in AGS gross margin percentage is primarily due to the continued benefit from cost savings initiatives, which include productivity improvements. We have redesigned the Avaya support website and are transitioning our customers from an agent-based support model to a self-service/web-based support model. These improvements have allowed us to reduce the workforce and consolidate support in lower-cost geographies.
Revenue in the U.S. for the nine months ended June 30, 2012 and 2011 was $2,092 million and $2,231 million, respectively, a decrease of $139 million or 6%. The decrease in U.S. revenue was primarily due to lower revenues associated with our infrastructure solutions portfolio, maintenance services and networking products, partially offset by higher sales associated with contact center applications and professional services. Revenue in EMEA for the nine months ended June 30, 2012 and 2011 was $1,022 million and $1,106 million, respectively, a decrease of $84 million or 8%. The decrease in EMEA revenues was primarily due to lower revenues associated with our infrastructure solutions portfolio, German rental base and maintenance services associated with our infrastructure solutions portfolio, as well as an unfavorable impact of foreign currency, partially offset by an increase in sales of our new networking product offerings. Within EMEA, revenue in Germany decreased due to a decline in our rental base as lease renewals are typically at lower rates, which is expected to continue for the remainder of fiscal year 2012. Revenue in APAC for the nine months ended June 30, 2012 and 2011 was $371 million and $382 million, respectively, a decrease of $11 million or 3%. The decrease in APAC revenue is primarily attributable to lower revenues associated with our infrastructure solutions portfolio, partially offset by higher maintenance services and professional services. Revenue in Americas International for each of the nine months ended June 30, 2012 and 2011 was $409 million, as the increase in sales volume associated with our support services was offset by an unfavorable impact of foreign currency.
Gross margin for the nine months ended June 30, 2012 and 2011 was $1,940 million and $1,914 million, respectively, an increase of $26 million or 1%. The increase is primarily due to the success of our gross margin improvement initiatives as discussed below, the impact of lower amortization of technology intangible assets, reductions in integration-related costs related to the acquisition of the NES business and lower costs associated with our employee incentive plans, which are driven by our actual financial results relative to established targets, and a favorable change in our product mix as we had less sales of lower margin products. These increases were partially offset by decreased sales volumes, pricing pressures and an unfavorable impact of foreign currency. The gross margin percentage increased to 49.8% for the nine months ended June 30, 2012 compared to 46.4% for the nine months ended June 30, 2011. The increase in gross margin percentage is primarily due to the success of our gross margin improvement initiatives as discussed below, the impact of lower amortization of technology intangible assets, reductions in integration-related costs related to the acquisition of the NES business, lower costs associated with our employee incentive plans and a favorable change in our product mix as we had lower sales of lower margin products.
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