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On the Editor's Desk

by: Martha Entwistle - Thursday, August 16, 2007
The recent 2Q results for GVI Security seem to be an indication that Steve Walin knows what he's doing. He first came to GVI from GE Security in March of 2006, inheriting a company that was losing, to quote him, "a million bucks a month." Next we heard, the company was short on cash and looking for financing. That he got it, that he's managed to attract a number of talented management types to GVI, and that he's managed to turn a $4.5 million loss in 2Q 2006 into a $160,000 profit in 2Q 2007 seems to indicated he's a pretty good manager. He definitely good at identifying unnecessary costs. In the most recent quarter, selling, general and administrative expenses accounted for 23 percent of $12.27 million in revenues; in the second quarter of 2006, those same expenses accounted for 40 percent of $11.16 million in revenues.
by: Martha Entwistle - Friday, August 10, 2007
IMS biometrics market leader Bioscrypt couldn't use their market position to turn a profit in the second quarter, unfortunately. They brought in $4.8 million over the three months ending June 30, but that was $600,000 less than the same quarter last year, and it accounted for a $3.9 milion loss. Some of that can be attributed to the A4 Vision buy, which did bring some cool technology, but it's enough of a concern that Bioscrypt has axed 10 percent of its workforce and brought on new CFO Stephen McDonald. This can't be the the way new CEO Robert Douglas wanted to start his tenure.
by: Martha Entwistle - Friday, August 10, 2007
If you can believe it, Ingersoll-Rand is selling off one of its signature lines: Bobcat. That along with some utility equipment and attachments products, generated $2.6 billion for I-R in 2006, but they've been sold to the Korean firm Doosan Ifracore for $4.9 billion (it made their stock jump, too). That should provide some cash for the company to focus on "global climate control, industry and security." Maybe another big integrator buy is in the works? The company is only about a year removed from a big redesign and refocus of its brand, which included new trucks for all of its integrator firms (see here). Worth watching, I'd say.