Envivio Slows Down in Q3
Envivio said revenues slowed and losses widened in its fiscal third quarter as the video encoding and processing specialist faced tough economic conditions in Europe, pending customer consolidation in the U.S., and cautious spending tied to Ultra HD transitions.
Despite those troublesome trends, Envivio said it did score a new multiscreen video deal with a new tier 1 service provider in the U.S.
“This order represented more than 10% of our Q3 revenue,” Julien Signès, Envivio’s president and CEO, said on Monday’s earnings call. “We believe this win…could lead to material business within the next 12 months.”
To read the full story, visit Multichannel.com.
(Photo via Ervins Strauhmanis's Flickr. Image taken on Sept. 19, 2014 and used per Creative Commons 2.0 license. The photo was cropped to fit 3x4 aspect ratio.)
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By Kent Gibbons