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37
Net Revenues from Continuing Operations for the Years Ended December 31, 2013 and 2012
(dollars in thousands)
2013 Change 2012
Net Revenues $ % Net Revenues
Video products and solutions $ 243,173 $ (33,736) (12.2)% $ 276,909
Audio products and solutions 152,358 (49,563) (24.5)% 201,921
Total products and solutions 395,531 (83,299) (17.4)% 478,830
Services 167,881 11,008 7.0% 156,873
Total net revenues $ 563,412 $ (72,291) (11.4)% $ 635,703
The following table sets forth the percentage of our net revenues from continuing operations attributable to geographic regions for
the periods indicated:
Year Ended December 31,
2014 2013 2012
United States 36% 39% 39%
Other Americas 9% 7% 7%
Europe, Middle East and Africa 41% 38% 39%
Asia-Pacific 14% 16% 15%
Video Products and Solutions Revenues
2014 Compared to 2013
Video products and solutions revenues from continuing operations decreased $9.7 million, or 4.0%, for 2014, compared to 2013.
The decrease in video revenues was primarily the result of lower amortization of deferred revenues (that is, lower recognition of
revenue backlog) attributable to transactions executed on or before December 31, 2010, which, due to the adoption of ASU No.
2009-13 and ASU No. 2009-14 as described further in “Critical Accounting Polices and Estimates,” resulted in many of our
product orders qualifying for upfront revenue recognition; whereas, prior to adoption the same orders required ratable recognition
over periods of up to eight years. Revenue backlog associated with transactions executed prior to the adoption of ASU No.
2009-13 and ASU No. 2009-14 will continue to decline through 2016, before the balance is largely amortized, contributing less
revenue each period.
2013 Compared to 2012
Video products and solutions revenues from continuing operations decreased $33.7 million, or 12.2%, for 2013, compared to
2012. In 2013, compared to 2012, revenues from our video creative tools, storage and workflow solutions, and media
management solutions all decreased. The decrease in video revenues was primarily the result of the previously discussed lower
amortization of deferred revenues attributable to transactions executed on or before December 31, 2010.
Audio Products and Solutions Revenues
2014 Compared to 2013
Audio products and solutions revenues from continuing operations decreased $7.2 million, or 4.7%, for 2014, compared to 2013.
The decrease in audio revenues was primarily the result of the previously discussed lower amortization of deferred revenues
attributable to transactions executed on or before December 31, 2010.
2013 Compared to 2012
Audio products and solutions revenues from continuing operations decreased $49.6 million, or 24.5%, for 2013, compared to
2012. In 2013, compared to 2012, revenues from our digital audio software and workstation solutions and control surfaces,