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Masimo Reports Fiscal ’23 First Quarter Results; Stock Slides on Margin Decline

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How Did Masimo Consumer – aka Sound United – Perform?

Masimo Corporation (NASDAQ: MASI) released the financial results for its first quarter of fiscal 2023 (the quarter that ended on April 1, 2023), and at first glance, the numbers looked pretty good. The company reported revenues grew by an eye-popping 87.5% over the same quarter last year, a number that beat analysts’ estimates. Not only that, but the company delivered adjusted earnings per share of $0.87, which were also well over analysts’ projected adjusted earnings per share of $0.83.

Yet Masimo stock value crashed by more than -5¼% after the announcement. Why?

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YG Acoustics Launches 3rd Gen of Reference Line at Munich High End

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YG Acoustics logo and product photo

Denver-based YG Acoustics has announced it will debut the third generation of its Reference line of loudspeakers – called Reference 3 – at the upcoming Munich High End show, running from May 18 to May 21. The Munich event is one of the world’s preeminent high-end audio expositions. As such, it is the perfect venue for the company to launch its latest generation of Reference with many new technological innovations sure to be appreciated by the event’s audiophile attendees.

Learn more about YG Acoustics at the Munich High End Show

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Audio Research Corp Assignee Files New, More Revealing Papers with Court

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Audio Research I/50
Audio Research I/50 integrated amplifier

In a new round of filings from the designated “Assignee” in the matter of Audio Research Corporation’s filing of an Assignment for the Benefit of Creditors, we actually learn a few new things and get a little more detail on the state of affairs for the beleaguered but popular high-end audio brand. And these new details help to put a finer point on just where things stand at the moment for the company.

See more on what the Assignee told the court…

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Premium Audio Company Elevates Rob Standley and Lowers Prices

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A system with Klipsch speakers, part of Premium Audio Company

A couple of interesting announcements this week from Premium Audio Company (PAC), the Voxx Int’l subsidiary that markets the company’s premier audio brands such as Klipsch, Onkyo, Integra, Jamo, Pioneer, Elite, and more. First up, Rob Standley gets a big promotion to President of Technology and Product, a big step up. Second, and I would say counter-intuitively, the company says it’s lowering prices on many of its “most popular and best-selling audio solutions.”

Learn more on these latest moves from Premium Audio Company

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Minn. Bank Asks Court for $1.5M+ Judgment Against Audio Research Corp & Trent Suggs

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Audio Research I-50 integrated amplifier

Minnesota Bank & Trust (MB&T) of Minnetonka, MN has filed documents with the Fourth Judicial District of the Minnesota District Court notifying the court of the existence of a secured agreement with Audio Research Corporation (ARC) and its principal owner, Trent Suggs. This agreement, the bank wants the court to know, has been subject to “Numerous events of default” which “are continuing.”

With this being the case, the bank is asking the court to issue a judgment for the amount owed, plus accrued interest, plus attorneys’ fees, and other collection costs – an amount in excess of $1.5 million.

See more on events surrounding Audio Research Corp & Suggs

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Masimo v. Apple – Judge Declares a Mistrial as Jury Hopelessly Deadlocked

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Masimo W1 smartwatch
Masimo W1 smartwatches, note sensors on the back

BREAKING NEWS

In a result likely to be viewed by many as anti-climatic, U.S. District Judge James V. Selna has declared a mistrial in the matter of the $1.8 billion trade secret lawsuit between Masimo Corp. et al vs. Apple Inc. et. al. And while I am sure that both sides are disappointed that they failed to prevail, both can take away some positive elements from this null decision that will most likely inform their approach in a new trial.

See more on Masimo v. Apple

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Audio Research Corporation Files Court Docs to Enter Form of Receivership

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Audio Research Corporation amplifier

Another storied high-end audio brand has seen itself fall into hard times. Audio Research Corporation of Maple Grove, MN has filed paperwork with Minnesota District Court to start a form of the receivership process known as an Assignment for the Benefit of Creditors.’

Learn more about receivership for Audio Research Corp

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Judge Cuts Masimo Claims in Half From $3.1B to $1.8B; Jury is Now Deliberating

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Masimo W1 smartwatch

BREAKING NEWS

In more late-breaking news from the Masimo v. Apple trade secrets trial, we learn that U.S. District Judge James V. Selna has cut Masimo’s trade secrets claims in half, down from twelve initial claims to now six viable claims. Based on the expert estimated value of the claims cut, that takes this case from one valued at $3.1 billion in damages to one now valued at $1.8 billion.

See more on this late-breaking Masimo v. Apple trial news

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In Masimo v. Apple Trial Twist, Jurors Suddenly Learn Apple Hired Many Masimo Employees

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Apple Watch

Closing Arguments Began Wednesday

In a surprising and rather dramatic late-trial incident, an Apple witness violated a pre-trial order from U.S. District Judge James V. Selna meant to limit the amount of evidence to be presented, and – upon a motion from Masimo – he reversed that order, allowing Masimo to reveal more evidence potentially detrimental to Apple. Specifically, jurors learned that Apple had not just hired two Masimo executives as they had been told, but rather, the tech giant had hired as many as five more (for a total of seven) employees away from Masimo.

Learn more about a surprising turn in Masimo v. Apple

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B&W Diamond Surround Sound System is Featured in New BMW XM Hybrid SUV

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BMW XM hybrid SUV with B&W Diamond Surround Sound System inside

Bowers & Wilkins (B&W) announced today that its Diamond Surround Sound System is being featured in BMW’s latest BMW XM luxury hybrid SUV. First featured in the top-of-the-line BMW 7 series, the company says its engineers worked side-by-side with BMW engineers from the very start of the XM development to ensure that its Diamond Surround Sound System was fully optimized for the luxury interior of this unique SUV.

Learn more about the B&W Diamond Surround Sound System in BMW XM

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