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VIDE Video Display

Video Display Corporation and subsidiaries (the “Company”, ”us” or “we”) is a provider and manufacturer of video products, components, and systems for visual display and presentation of electronic information media in a variety of requirements and environments. The Company designs, engineers, manufactures, markets, distributes and installs technologically advanced display products and systems, from basic components to turnkey systems, for government, military, aerospace, medical, industrial, and commercial organizations. The Company markets its products worldwide primarily from facilities located in the United States. Please read the comments under the caption “Forward looking statements and risk factors” in Item 1A Risk Factors of this Annual Report on Form10-K.

Company profile

Ticker
VIDE
Exchange
CEO
Ronald D. Ordway
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
581217564

VIDE stock data

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Calendar

14 Jan 21
21 Apr 21
28 Feb 22
Quarter (USD)
Nov 20 Aug 20 May 20 Nov 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Feb 20 Feb 19 Feb 18 Feb 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 342K 342K 342K 342K 342K
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) 390.67K 97.67K
Cash used (since last report) n/a n/a n/a 1.85M 462.41K
Cash remaining n/a n/a n/a -1.51M -120.41K
Runway (months of cash) n/a n/a n/a -3.9 -1.2

Beta Read what these cash burn values mean

Financial report summary

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Management Discussion
  • Consolidated net sales increased 19.7% for the nine months ended November 30, 2020 and 95.1% for the three months ended November 30, 2020 compared to the nine months and three months ended November 30, 2019. The Display Systems division was up 53.0% for the nine months ended November 30, 2020 compared to the comparable periods last year. The completion of a video wall at a major customer and the completion of a significant portion of two simulators, along with new orders for a major contract have led the way to the increase. For the three months ended November 30, 2020, the Display System division was up 702.0% compared to the same three months last year. Last year sales were slow for this division as they waited on rebid for one of their large product lines. This was resolved and orders began to ship in the third quarter. The acquisition of Jaco Displays in January, 2020 has added a significant amount of revenue not only in this quarter but for the fiscal year to date. The Company is focused on the video wall business with a recent order for a video wall for a major customer and is in talks with another major company for several video walls. The Company is also focused on the ruggedized displays (displays specifically designed to operate reliably in harsh usage environments and conditions) and the simulation sectors of the business, pursuing opportunities in both the ruggedized displays and simulation business. The Company’s AYON Cyber Security (ACS) division is down 3.9% for the nine months ending November 30, 2020 compared to the nine months last year. ACS completed a large order for the Department of State that was awarded last year which has accounted for about two-thirds of its business this year. For the three months ending November 30, 2020, ACS was down 82.7%. The division has not been able to secure any new U.S. government business and very little business from Canada. Cyber service has been the primary revenue generator this quarter. The Data Display division showed an decrease of 23.1% for the nine months ended November 30, 2020 due to decreases in the sales of a specialty product know as a DVST (Direct view storage tube), and a decrease to airline simulator companies for replacement CRTs (Cathode Ray Tubes). The division is down 16.5% for the three months ended November 30, 2020 primarily due to the lack of DVST sales and replacement CRT sales, both hampered by COVID-19. The division expects to get new DVST orders and have the replacement CRT business pick up once COVID-19 is under control. The Company’s keyboard division is up 13.6% for the nine months ended November 30, 2020 and 39.2% for three months ended November 30, 2020 respectively compared to the same periods last year. The Company acquired this company in October of 2017. This division is expected to continue at this level of sales each quarter.
Content analysis
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H.S. freshman Avg
New words: agreement, airline, began, catalyst, cover, extinguishment, farther, government, hampered, lack, led, Media, MMD, Multimedia, notification, property, salesperson, turnover
Removed: account, adding, chamber, depreciation, execute, modify, ownership, recently, repayment, room, short, side, supplement