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LoJack Corp. Reports Operating Results (10-Q)

November 06, 2012 | About:
10qk

10qk

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LoJack Corp. (LOJN) filed Quarterly Report for the period ended 2012-09-30.

Lojack Corporation has a market cap of $41.3 million; its shares were traded at around $2.05 with a P/E ratio of 227 and P/S ratio of 0.3.

Highlight of Business Operations:

Revenue in the North America segment from our dealer channel in the United States decreased 2% when compared to the same period in 2011. Revenue in the North America segment from our heavy equipment, or commercial, channel in the United States increased 25% over the same period in 2011. Our motorcycle and direct distribution channels in the United States market saw revenue declines of 19% and 1%, respectively, as compared to the same period in 2011. Revenue in the North America segment from our Canadian business saw a decrease of 12% as compared to the same period in 2011.

A decrease of $318,000, or 12%, in Canadian unit and service revenue, primarily due to a decrease of $586,000, or 25%, in service revenue driven by a 37% decline in the average number of subscribers to 34,000 for the three months ended September 30, 2012, partially offset by a $267,000 increase in product revenue as the number of base units sold during the quarter increased from 1,687 in 2011 to 2,416 in 2012; partially offset by

Revenue related to our International segment decreased $1,929,000 for the three months ended September 30, 2012 as compared to the same period in 2011. The decrease was primarily due to a decline of $2,191,000, or 26%, in product revenue from our licensees due to a 29,000 decrease in the number of units sold in the three months ended September 30, 2012 compared to the same period in 2011. The decrease in units sold was primarily due to increased governmental regulation and adverse economic factors in several of our international markets. The decrease in revenue was partially offset by an increase of $189,000, or 65%, in revenue from the sale of infrastructure components, royalty, license fee, and other revenue from our licensees for the three months ended September 30, 2012 compared to the same period in 2011.

A decrease of $1,144,000, or 14%, in Canadian unit and service revenue, primarily due to a decrease of $1,772,000, or 24%, in service revenue driven by a 23% decline in the average number of subscribers to 45,000 for the nine months ended September 30, 2012, partially offset by a $628,000 increase in product revenue as the number of base units sold during the year increased from 4,497 in 2011 to 6,931 in 2012; and

Revenue related to our International segment decreased $5,590,000 for the nine months ended September 30, 2012 as compared to the same period in 2011. The decrease was primarily due to a decline of $6,170,000, or 27%, in product revenue from our licensees due to a 101,000 decrease in the number of units sold in the first nine months of 2012 compared to the same period in 2011. The decrease in units sold was primarily due to increased governmental regulation and adverse economic factors in several of our international markets. The decrease in revenue was partially offset by an increase of $350,000, or 37%, in revenue from the sale of infrastructure components, royalty, license fee, and other revenue from our licensees for the first nine months of 2012 and a $229,000, or 10%, increase in revenue from our Italy business for the first nine months of 2012 as compared to the same period in 2011.

Read the The complete Report

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10qk
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