GeoVision Quarterly Updates
More than 8,804,358 DVR channels and 25,214 Megapixel
IP cameras sold to date....and still counting!"
Leading Digital Video Surveillance Manufacture
July-September 2010
1
About GeoVision
 Digital video surveillance company
 Founded in Feb.1998 by George Tai
 Listed on TWSE since March 2005 (Code: 3356; Ticker: GeoVision)
 Capital : TWD$481 M
 Market Cap: ≒USD$154.1mn (As of Sept. 2010)
 Number of employees: 282 (208 in HQ)*
 5 subsidiaries in Brazil, China, Czech Republic, Japan, the USA
 Product Lines:
–
–
–
–
–
Hybrid DVR/ NVR
DVR Systems (PC-Based)
Compact DVRs (Standalone Type)
Network Video Solutions (IP Cameras, Video Servers)
Video Integration Solutions (CMS, POS/ATM, GIS, LPR/ANPR, Access Control)
 Business Summary:
Since its establishment, GeoVision has focused on R&D and manufacturing of video surveillance
products and solutions. GeoVision is a leader in the sector of hybrid video surveillance and offers
comprehensive support for network video products.
* June 30, 2010
2
Video Integration Solutions
Center V2 Demo
Control Center
E-Map Demo
GIS
Central
Monitoring
Station
GeoVision Video
Surveillance System
GIS Demo
Access Ctrl Demo
POS Demo
Toll Booth Demo
LPR Demo
POS/ ATM/ EAS
License Plate
Recognition
3G Mobile Demo
Access Control
IP Cam PIP
IP Cam PnP
3G Mobile Monitoring
Mega-Pixel IP Camera
Video Analytics
3
Free bundled 32-channel GV-NVR
4
DVR Products
GV-Video Capture Card
GV-Systems (PC-based)
GV-Compact DVR (Linux)
Hardware Compression Card
GV-Hot Swap DVR
Standard Model
Combo Cards
GV-Mini DVR
Anti-Vibration Model
GV-Storage
Mobile Solution
Video Capture Cards
GV-DVR/ Hybrid DVR 32CH
5
IP Products
GV-IP Camera
GV-IP Camera (Coming Soon)
GV-Video Server
1.3M H.264
1.3M H.264 Fisheye
H.264 2CH
1.3M Vandal Proof
1.3M H.264 PTZ
MPEG4 2CH/ 4CH
H.264 IP Speed Dome
1.3M H.264 Low Lux
GV-NVR
NVR Lite
V8.3 NVR 32Ch
2M H.264/ 3M H.264
6
GV-1.3M H.264 Fisheye IP Camera
• Replace four or more conventional cameras with
just one fisheye IP camera
• 1.3M progressive scan CMOS
• H.264, MPEG 4 and MJPEG
• Provides 360 and 180 degrees panorama view
• Playback from any view angle and zoom level
• Virtual PTZ function
• Auto Pan function Privacy mask
• Visual automation
• Tampering alarm
• 16 languages on web interface
7
Smart Video Analytics
Face Detection Crowd Detection
Vehicle
Counting
People
Counting
Object Detection Object Detection
Tampering Alarm
Single PTZ
Tracking
Object Tracking
Video Enhancer
Visual Automation
Panorama View
Smart Search
Video Stabilization
PTZ Visual Zoom
Control
GV-Web
Report
8
Product Road Map
Remote
Network
Central Monitoring Station: Center V2 Pro,VSM,
Dispatch Server,Control Center
PDA/ Smart Phone/ 3G Remote Live View;
WebCam MultiView; Email / SMS alerts
TV Wall Solution
Video
Analytics
Blackber
ry
Support
Access
Control
POS/ATM DVR
Integration
CMS
GIS/GPS
Support
DSP LPR
License Plate Recognition,
LPR+DVR, LPR Center
GV-NVR
IP S/W
IR Cam
32CH
MultiView
GViView
for
iPhone
iPod
Touch
Smart Video Analytics:
GV-Web
Face Detection,
Report;
Panorama View, Defog Gender/ Age
Video Stabilization,
Detection
Crowd Detection
Single PTZ Tracking Compact Smart
Intelligent Video Content Analysis
8-CH
Geo MPEG4, Geo MPEG4 (ASP),
MPEG-4 (ASP), MPEG-2, Geo H264,
Vista
Support
Digital
480 fps Video Card; DVR System;
Hardware Compression Card
2004
2005
1.3 Mega IP Cam
Geo H264 V2
32 CH
Hybrid Solutions
Compact 4-Ch
MPEG4/ MJPEG Video Server
2006
2007
2008
2009
Box
H.264 Full HD IP
H.2641.3M IP/ PTZ
H.264 Speed Dome
H.264 Fisheye Cam,
H.264 Video Server
2010
9
Revenues by Quarter
450
25.0%
 2010Q3 sales
NT$338mn
QoQ 2%
YoY 9%
412 408
400
350
20.0%
382
342
318 311
309
331 338
319
301
10.0%
5.0%
250
0.0%
200
-5.0%
-10.0%
150
-15.0%
100
-20.0%
50
-25.0%
0
-30.0%
08
Q
1
08
7Q
2
08
Q
3
08
Q
4
09
Q
1
09
Q
2
09
Q
3
09
Q
4
10
Q
1
10
Q
2
10
Q
3
NT$mn
300
15.0%
Sales
QoQ (%)
YoY (%)
*The Q3’10 result is un-audited.
10
Gross Margins,
OP Margins and EBT
Quarterly Results
Annual Results
75%
67%
60%
48%
47%
45%
67%
49%
69%
65%
68%
67% 65%
65%
65%
64%
60%
43%
38%
38%
50%
41%
30%
75%
68%
68%
33%
32%
35%
41%
39%
37%
33%
30%
15%
42%
45%
40%
36%
36%
38%
27%
0%
34%
28%
32%
0%
3'
10
Q
2'
10
Q
1'
10
Q
4'
09
Q
2'
09
3'
09
Q
EBT Margin
Q
Gross Margin
OP Margin
*The Q1~Q3’10 result is un-audited.
Q
1'
09
'1
0
Q
1~
Q
3
'0
9
'0
8
'0
7
'0
6
15%
*The Q3’10 result is un-audited.
11
Operating Expenses
60
NT$MN
39.0%
50
37.0%
40
35.0%
33.0%
30
32%
32%
32%
20
31.0%
31%
30%
29%
29.0%
29%
10
27.0%
93
98
91
97
97
104
0
25.0%
Q1'09
Q2'09
Sales & Mkt
Q3'09
Q4'09
Administration
Q1'10
R&D
Q2'10
Q3'10
Expense %
12
Earnings & EPS
NT$mn
400
NT$
NT$mn
8
150
’10Q3
Non-Operating Profit:
NT$29.2mn
300
130
6.53
358
5.98
288
200
3.5
113
314
110
5.66
250
4
139
7.44
350
NT$
272
2.88
2.63
93
5
150
90
70
2.35
1.95
127
3
2.5
1.94
2
1.63
100
50
50
0
2
2009 Q1~Q3
2010 Q1~Q3
Income before Tax (NT$mn)
Net Income (NT$mn)
EPS (NT$)
Pre-tax EPS (NT$)
94
1.5
78
30
1
Q3'09
Q2'10
Q3'10
Income before Tax (NT$mn)
Net Income (NT$mn)
EPS (NT$)
Pre-tax EPS (NT$)
13
Sales in the Products
100%
90%
5%
6%
5%
4%
10%
9%
80%
12%
70%
20%
60%
Others
50%
40%
69%
30%
59%
Applications
(Access Control/ CMS/
LPR/ POS)
DVR Systems &
Compact DVRs
20%
IP Products
10%
GV-Cards
0%
Q1-Q3 2010
Q1-Q3 2009
14
Sales in the Regions
NT$MN
Annually
600
1200
1000
800
600
2%
3%
15%
31%
400
200
Quarterly
NT$MN
48
%
0
500
Taiwan
400
2%
3%
300
2%
3%
15%
16%
200
31%
30%
100
49%
49%
Oceanic,
Africa
Asia (incld.
Jpn)
Europe
America
0
2010 Q1~Q3
2010 Q2
2010 Q3
15
Income Statements
(Unit : NT$K)
2010
Q1~Q3
2010
Q3
%
%
QoQ %
YoY %
Net Sales
969,703
100
337,679
100
2
9
Gross Profit
631,502
65
216,350
64
0
8
Operating Profit
323,195
33
109,335
32
(3)
0
Income before Tax
314,051
32
138,577
41
49
23
Net Profit
272,153
28
126,705
38
61
35
Pre-tax EPS (NT$)
6.53
2.88
EPS (NT$)
5.66
2.63
(Unit : NT$K)
16
References
17
Video Surveillance Transition
Video Server
Network
Video
Solutions
LAN /
WAN /
Wireless
CMS Server
GeoVision Solution
IP Cam
NVR
Analog+Digital
Hybrid DVR
LAN / WAN
/ Wireless
PC-Based DVR
Analog
Camera
+DVR
LAN / WAN
/ Wireless
PC-Based
CMS Server
Standalone DVR
Analog
Camera
+VCR
Analog VCR
1990
Analog Signals
2005
Digital Signals
2007
2010
18
World Market for Video Surveillance
USD$M
The World Market for Video Surveillance Euqipment
2,292
3,162
7,212
7,676
2009
2010
4,317
8,118
2011
5,811
8,536
2012
Network Video Surveillance (incl. IP cameras, IP software, NVRs)
Digital Video Surveillance (incl. analogue cameras)
Source: IMS Research 2008 Edition
19
World Market for DVRs by Products
‘07-’12 DVR Total CAGR 9.6%
USD$Mn
’08 GV-Cards Market Share
4000
224
3500
201
767
180
3000
738
159
2500
GV-Cards
26%
707
140
DVR Cards
674
658
Other
brands
74%
PC-Based
DVR
2000
Embedded
DVR
1500
Source: Company Info
'09 GV-Cards Market Share
2,805
2,553
1000 1,868 2,064
2,300
GV-Cards
16%
Other
Brands
84%
500
0
'08
'09
'10
'11
'12
Source: IMS Research-The World Market for CCTV
and Video Surveillance Equipment 2008 Edition
20
World Market for DVRs by Products
USD$ MN
4000
GV-Hybrid DVR Market Share
(Incld. GV-Cards & GV-Systems)
USD$ MN
350
580
3500
477
380
3000
300
299
2500
9.5%
242
Hybrid DVR
(analog &
digital inputs)
Standard DVR
2000
1500
2,424
2,598
2,807
3,015
250
17.0%
200
GV-Hybrid DVR
150
Other Brands
of Hybrid DVR
3,216
90.5%
1000
100
500
50
0
0
'08
'09
'10
'11
'12
Source: IMS Research-The World Market for CCTV
and Video Surveillance Equipment 2008 Edition
Source: Company Info
83.0%
'08
'09
21
World Market for Megapixel Cameras
1-1.99 Megapixel IP Cameras
Shipments
GV-Megapixel IP Cameras
Shipments Market Share
%
Unit Shipments (000s)
100%
1000
3.2%
3.5%
100%
90%
902
900
90%
800
80%
700
70%
80%
70%
60%
579
600
60%
500
50%
400
40%
343
300
193
200
50%
96.8%
96.5%
40%
30%
30%
20%
20%
10%
10%
GV-Megapixel
IP Cams
Other Brands
IP Cams
109
100
0
0%
'08
'09
'10
1-1.99 Mega
'11
'12
0%
'08
'09
CAGR
Source: IMS Research-The World Market for CCTV
and Video Surveillance Equipment 2008 Edition
22
World Market for DVRs vs. IP Cameras
IP Cameras
(Megapixel & Non-Megapixel )
DVRs
(Hybrid & Standard)
Unit Shipments (000s)
7,000
2010 ASP
Hybrid: $2,104
Standard: $820
6,000
Unit Shipments (000s)
7000
6000
5,000
323
246
4,000
2010 ASP
Mega: $728
Standard: $387
1,789
5000
4000
Megapixel
Resolution
1,093
181
3,000
3000
130
Standard
Resolution
628
4,862
4,113
2,000
4,369
353
2000
3,423
3,317
2,503
2,803
1,000
1,879
1000
0
0
'08
'09
Standard DVR- analog
'10
'11
'12
'08
'09
'10
'11
'12
Hybrid DVR- analog+digital
Source: IMS Research-The World Market for CCTV
and Video Surveillance Equipment 2008 Edition
23
Market Share for IP Cameras & DVRs
2007 IP Cameras Revenues: USD$547.9mn
2007 Enterprise DVRs Revenues: USD$285.5mn
Others,
18.5%
Others,
31.9%
Hikvision,
3.6%
Vicon ,
3.9%
Geutebru
ech, 4.4%
Honeywel
l, 4.8%
Toshiba,
5.4%
Tyco,
5.5%
Mitsubish
i, 6.3%
Verint,
7.4%
Pelco,
11.1%
Nice,
15.8%
DVTel, 2.0%
ACTi, 2.5%
Vivotek,
3.1%
Bosch
Security,
3.6%
D-Link,
5.3%
Panasonic
System,
5.4%
Mobotix,
7.3%
Panasonic
(PCC), 8.4%
Sony,
10.4%
Axis, 33.5%
0%
10%
20%
Source: IMS Research 2008
30%
40%
0%
10%
20%
30%
40%
24
The Best ROE among Top 50
• GeoVision is ranked No.1 by Global View Magazine in
the “Taiwan’s 50 Best CEOs” survey, based on the
annual average ROE performance of all Taiwan listed
companies during their current CEOs’ terms.
※Source: Global View Magazine, 遠見雜誌, 2010.05
ROE Ranking exclusive of Industry Average ROE
Rank
ROE%
20
42.00%
41.58%
41.00%
15
18
38.96%
5
1
0
GeoVision-奇 偶
ROE ranking
3
2
2
HTC-宏 達 電
20
48.00%
18
46.61%
15
44.00%
40.00%
39.72%
10
ROE Rank exclusinve of Market Average ROE
Rank
ROE%
39.00%
38.00%
1
37.00%
MediaTek-聯 發 科
Market Cap Ranking
ROE%
10
41.24%
40.74%
5
3
0
GeoVision-奇 偶
ROE ranking
40.00%
1
2
1
2
HTC-宏 達 電
36.00%
MediaTek-聯 發 科
Market Cap Ranking
ROE%
25
Sales Channels & End-Users
GeoVision Inc.
System Integrators
Distributors
System Integrators
Government
(Italy) Prime Minister
Building;
(Iran) Defense Ministry
Transportation
(UK) Double Deck Bus;
(Germany) Munich Airport Parking
Installers
Installers
Education
Banking
(HK) Univ. of Hong Kong
(France) Banque de France
(Morocco) Brink’s
Retail
Gaming
(USA) Hooters / Macy’s /
7-11 / Albertsons/ MacDonald
(USA) Flamingo Casino
(Japan) Pachinko
Healthcare
Business
(USA) Harvard Medical Center;
UCLA Medical Center
(Japan) Osaka Shopping
Center
26
Video Surveillance Players
NVR
PC Based DVR
IP Software
IP Cam
Provideo
IP Storage
Standalone DVR
27
Organization
Number of Employees: 282
(As of April 1, 2010)
Chairman & CEO
George Tai
USA Vision Systems
Inc.
GeoVision Japan Inc.
Shanghai GeoVision
System Co., Ltd.
Sales, 32,
15%
Oversea
Subsidiaries
RD, 109, 52%
Europe Vision
Systems s.r.o.
General Manager & COO Admin+Oper
Roger Lin
ating, 63,
30%
GeoVision Brail Ltd.
R&D
Technical
Support
Sales
Product &
Marketing
Administra
-tion
Support, 7,
3%
Operation
& Logistics
28
Honors & Awards
2009 18th National Award of
Outstanding Small and
Medium Enterprises
2009 17th Award for Industrial
Technology Advancement Outstanding Innovation Award
Taiwan
SME-Rising
Enterprise Star Award
Y2009
Y2008
Mini DVR Frost & Sullivan –
Digital Video Monitoring
Y2007
Deloitte
Fast 500
Combo DVR
USA
Patent
Y2006
Deloitte
Fast 500
Taiwan
Patent
Y2005
Y2000
Y2001
Y2004
Y2002
29