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Masimo Stock Value Crashes After Prelim Q2 Warning of Revenue Decline

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Masimo website

BREAKING NEWS

After the close of markets on Monday, Masimo Corporation (Nasdaq: MASI) took the unusual step of issuing a press release announcing preliminary results for its fiscal 2023 second quarter, the quarter that ended July 1, 2023. The release warned investors that the company expected to report a revenue decline in the quarter…a pretty significant revenue decline. But perhaps even more impactful than that, the company went on to add that it is forced to revise downward its forward guidance for the full Fiscal 2023 annual results. The value of MASI stock crashed nearly 26% in an early evening reading of after-hours trading in the stock.

See more on this surprising announcement from Masimo on Q2 results

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Voxx Intl 1st Qtr Fiscal ’24 Results Hit Hard; Premium Audio Sales Drop -32%

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Voxx International website

VOXX International Corporation (Voxx) (Nasdaq: VOXX) reported its financial results for the first quarter of fiscal year 2024 and the numbers were not pretty. The first quarter is the period ending on May 31, 2023, and overall net sales n the quarter dropped by -13.1%, with a net loss increase of 65%. The hardest hit segment was the company’s Premium Audio Company division – home of brands like Onkyo, Pioneer, Integra, Elite, and more – which saw sales collapse by -32%.

Learn more about Voxx Intl’s rough first quarter of fiscal 2024

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Audio Research Corp Begins Its Next Chapter as AR Tube Audio Corporation

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Minnesota Judicial Branch logo

The Minnesota District Court for the Fourth Judicial District in the County of Hennepin held a hearing on Tuesday to determine the final disposition of the insolvent Audio Research Corporation which is operating under Assignment for the Benefit of Creditors (ABC) – a form of receivership. The assignee in this case, Patrick Finn of Lighthouse Management Group had executed an Asset Purchase Agreement (APA) with Acora Acoustics and was seeking an order from the judge to approve the APA and the transfer of the assets free and clear of any and all liens to Acora Acoustics.

See more on this end of one era of Audio Research…and the beginning of the next

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Sonos Cuts Headcount 7%, Looking to Cut Real Estate & Programs

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Exploded view of Sonos speaker

Is Sonos Exploding?

In a filing with the Securities and Exchange Commission (SEC) on Tuesday, Sonos, Inc. [NASDAQ: SONO] said it will institute a “reduction in force” or headcount reduction of approximately 7% of their employees. While the decision to cut jobs is designed to reduce labor expenses, the execution of the plan is estimated to cost the company somewhere between $11 million to $14 million.

But there was even more in the Sonos filing…

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Will Audio Research Corp Actually Be Acquired by Acora Acoustics?

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Audio Research Corp tube amplifier

So much has transpired over the last two weeks in the matter of Audio Research Corp’s status as it operates under Assignment for the Benefit of Creditors, a form of receivership. Several more documents have emerged that serve to shed more light on just precisely what is going on.

See all the latest on the status of Audio Research Corp’s journey to a new owner

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VOXX SHOXX Market with Double-Digit Percentage Sales Declines & Deepening Losses

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VOXX International website

VOXX Stock Value Drops Nearly 30%

Yet more evidence of an industrywide downturn emerges, this time from VOXX International’s Fiscal 2023 fourth quarter and full-year results. After claiming that “…we had a lot of positive developments and continued to win new business and expand globally,” Voxx President Pat Lavelle went on to blame “inflation,” “fears of recession,” “the retail environment,” and “supply chain constraints,” for creating “roadblocks” to the company’s performance this year. Roadblocks, indeed…

Learn more on VOXX’s results in Fiscal 2023

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Audio Research Corp is Sold; Or Is It?

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Audio Research Corp headquarters

An announcement recently appeared on an audio enthusiast website that appears to announce the sale of Audio Research Corp. to a Canadian high-end speaker manufacturer. However, when reached for confirmation of this news, the officially appointed receiver issued a terse “no comment.”

So IS Audio Research Corp sold?

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Sonos Stock Drops 25% as Fiscal 2023 2nd Quarter Hit By Slackening Demand

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Sonos fiscal 2023 second quarter results image

After the close of the stock market Wednesday, Sonos, Inc. released its fiscal 2023 second quarter (Q2) financial results. The numbers were pretty rough, but the company had previously adjusted its forward forecast downward. Yet even though the company’s latest Q2 numbers beat analysts’ revenue forecast and were in line with their guidance, the market reacted negatively. How negatively? Sonos’ stock lost more than 25% of its value on the day after the Q2 earnings were announced.

Why such a strong reaction? Read on…

See why investors were spooked after the Sonos earnings report

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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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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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