Nortek, Inc. released financial results for their fiscal first quarter this week. As a widely diversified provider of largely building-related products, the company noted marked improvement in several key areas over the same quarter last year. With an overall quarterly sales increase from $519.1 million last year to $550.1 million this year, sales increased 6%. But the company still lost money in the quarter – though the loss was less than last year.
Japan’s TDK to Launch R&D Facility in N. Cal’s Silicon Valley
Tokyo-based TDK Corp., a diversified tech manufacturing company, announced this week it would launch a high-tech “product development center” in California’s Silicon Valley to develop next generation electronic parts. TDK is mostly known in this country for its past dominance in the magnetic tape business, but is actually quite diversified and one of the leading electronic component manufacturers (i.e. capacitors, sensors) in the world with revenues in excess of ¥8.5 billion ($83.7 million).
See more on TDK’s Silicon Valley R&D facility plans… [Read more…] about Japan’s TDK to Launch R&D Facility in N. Cal’s Silicon Valley
Commercial & Residential Integrators Converge in Manhattan for Sapphire Marketing NYC RoadShow
Sapphire Marketing, a well-known manufacturer’s sales representative company focusing on the commercial and residential integration channels in the Northeast, held their sixth dealer “RoadShow” in mid-town Manhattan on Thursday and Friday of last week. We had the good fortune of being invited to attend the event courtesy of our friend Dawn Allcot of Crestron’s PR department…and we’re glad we went.
See more on this event, including some impressive presentations by major integration brands… [Read more…] about Commercial & Residential Integrators Converge in Manhattan for Sapphire Marketing NYC RoadShow
A Recent Report Says TiO Has ‘Fallen on Some Hard Times’ But Their CEO Disputes It; What’s Going On?
This past Saturday, CEPro published a strongly worded report based on anonymous email sources saying Automated Control Technology Partners, Inc., the parent company of Turn it On (TiO), has “fallen on some hard times” and its “office doors were locked” and “employees haven’t been paid for months.” The article also said that the company is “filing for Chapter 11” [bankruptcy] and “that a huge number of employees have been laid off.” CEO Mike Anderson was quoted as disputing many of the points in the article.
We spoke with Anderson who told us – emphatically – that CEPro got it wrong. So what is really going on at TiO?… [Read more…] about A Recent Report Says TiO Has ‘Fallen on Some Hard Times’ But Their CEO Disputes It; What’s Going On?
Thought for the Week – May 5, 2014
“Harley [Davidson] is maybe the best brand name in the U.S. Coca-Cola is a good brand name, but people don’t tattoo it on their bodies.”
Ralph Wanger, Chicago mutual fund manager
Yamaha’s Fiscal Results are Music to Management’s Ears
Yamaha Corporation announced their financial results for fiscal year 2014 (April 1, 2013 – March 31, 2014) and it is mostly good news for the company and its shareholders. However, like other Japanese companies, Yamaha benefited from an extremely favorable currency exchange rate that for some of their divisions was the only good news. Overall, however, Yamaha has much to crow about with sales up 11.8% to ¥410.3 billion ($4.0 billion) and net income up 455% to ¥22.9 billion ($223.8 million).
See more details on Yamaha’s results and see if it sounds good to you as well… [Read more…] about Yamaha’s Fiscal Results are Music to Management’s Ears
Aggressive Business Restructure Fails to Prevent JVC Kenwood’s Net Loss
JVC Kenwood Corporation released a snapshot of the financial results for its fiscal year that ended March 31, 2014 and – while overall group revenues were slightly better than expected – the profit picture is still quite troubled. Fiscal year total revenues came in at ¥316.343 billion ($3.1 billion)…but the company booked a net loss of ¥6.571 billion ($64.3 million).
See more of the company’s results which suggest benefits from their reorganization are still ahead… [Read more…] about Aggressive Business Restructure Fails to Prevent JVC Kenwood’s Net Loss
Oops! I Did It Again – Gibson Brands Buys Accessory-Maker WOOX from Philips
Oops, they did it again (to quote pop icon Brittney Spears) – Gibson Brands has acquired WOOX Innovations, a Singapore-based brand of accessory products, from owner Royal Philips, N.V., according to an announcement from Philips earlier this week. Another in a line of acquisitions in the consumer electronics space by Gibson, WOOX brings in a complementary line of products and international distribution into its portfolio. This is the second attempt to sell the division by Philips, who had a deal with Funai fall through late last year, resulting in legal action.
See more on this deal, including what it means for both companies… [Read more…] about Oops! I Did It Again – Gibson Brands Buys Accessory-Maker WOOX from Philips
Thiel Audio Communicates with Dealers about Move to Nashville…Finally
Last week, we told you about the many changes we learned that were taking place at Thiel Audio – some of which we characterized as “troubling.” Thiel, a storied brand whose products were originally based on technology and research from co-founder Jim Thiel, was purchased by a group of investors in 2012. Last week, we learned that these investors were closing up the Thiel factory in Lexington, KY – the company’s base of operations for 38-years – and moving it to their home base of Nashville, TN.
When we first heard this news, we reached out to the company, but they declined to speak with us.
Now, in the wake of our story last week, the company reached out to their dealers… [Read more…] about Thiel Audio Communicates with Dealers about Move to Nashville…Finally
Thought for the Week – April 29, 2014
Results! Why, man, I have gotten a lot of results. I know several thousand things that won’t work.
Thomas A. Edison
