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You are here: Home / Archives for Financial

Financial

Audio Design Associates Warns of Imminent Company Shutdown

December 10, 2019 by Ted 12 Comments

Audio Design Associates logo

In a letter to the media early Tuesday evening, Richard Stoerger announced the likely impending closure of Audio Design Associates (ADA), a company that was a founding member of CEDIA and a significant driving force in the early days of the “CEDIA channel.” The letter itself never explicitly explains the reasons for the possible closure, only offering vague allusions to: difficulty to “defeat the noise generated on a public level”… and … that they “just ran out of time and money”… and … a failure to “reckon with” how “difficult and expensive” it is to tell one’s story.

This news tolls the end of an era…

[Read more…] about Audio Design Associates Warns of Imminent Company Shutdown

Filed Under: Financial, Management, Manufacturers, News, Pivot Point Tagged With: ADA, Audio Design Associates, custom installation, custom installers, custom integration, Richard Stoerger

Sonos Announces Record Fiscal 2019 Results; Acquires Snips

November 21, 2019 by Ted Leave a Comment

Sonos announced this week that it has acquired French AI voice control software maker Snips in a deal valued at $37.5 million. The company also released their Fiscal 2019 results in a letter to investors denoting a record year for the company – its first as a publicly traded one.

See more on Sonos’ new announcements…

[Read more…] about Sonos Announces Record Fiscal 2019 Results; Acquires Snips

Filed Under: Financial, Manufacturers, News Tagged With: acquisition, Sonos

Last Week Onkyo, Now Sound United Reorganizes in Wake of Failed Acquisition Deal

November 21, 2019 by Ted Leave a Comment

Sound United logo

For a few weeks now, I’ve been chasing a rumor that both sides of the failed Sound United acquisition of Onkyo’s branded A/V business were in the throes of a major reorganization. The rumors, it seems, were true – starting with Onkyo’s announced reorganization last week…and now word that Sound United is also implementing changes to its management structure.

See what changes Sound United is making…

[Read more…] about Last Week Onkyo, Now Sound United Reorganizes in Wake of Failed Acquisition Deal

Filed Under: Brands, Financial, Management, Manufacturers, News, People, Pivot Point, Strategy Tagged With: reorgnization

Onkyo to Slash Overall Company Headcount by 30%, Cutting Management by 50%

November 14, 2019 by Ted 4 Comments

Also: Consolidating Facilities & Moving Headquarters

Onkyo logo

It appears that the other shoe is dropping in the wake of the failed acquisition of Onkyo Corporation’s branded A/V division by Sound United last month, as the company now says it will reduce its overhead by cutting jobs. This appears to be the first step in a major reorganization of the company, as it seeks to right-size the organization for the industry’s new, smaller, and more competitive environment in which electronics manufacturers find themselves.

See more on Onkyo’s restructuring…

[Read more…] about Onkyo to Slash Overall Company Headcount by 30%, Cutting Management by 50%

Filed Under: Financial, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: acquisition, Boston Acoustics, Classe, Definitive Technology, HEOS, Integra, Marantz, Onkyo, Pioneer Elite, Polk, Sound United

Private Equity Giant Apollo Global Management Acquires Tech Data in $5.4B Buyout

November 13, 2019 by Ted Leave a Comment

Tech Data logo

Tech Data, one of the largest technology distributors in the U.S. and globally, has been acquired by Apollo Global Management, a private equity powerhouse, in a deal valued at $5.4 billion. The deal announced today, is expected to close by mid-2020.

Read more on this mega-deal with Tech Data

[Read more…] about Private Equity Giant Apollo Global Management Acquires Tech Data in $5.4B Buyout

Filed Under: Brands, Distributors, Economic Trends, Financial, News, Strategy Tagged With: acquisition, Apollo Global Management, private equity, Tech Data

The Curious Case of the Disappearance of Classé

October 31, 2019 by Ted 2 Comments

BREAKING NEWS Acquired by Sound United Two Years Ago, Then Gone


Classe logo

It was January 2018 when I reported that Sound United had completed its acquisition of Classé, an acquisition which had been first announced in December of 2017. In the weeks leading up to that December, former owner Bowers & Wilkins was considering getting out of the electronics business…maybe. After months of confusion, where on any day executives at Classé teetered back-and-forth between survival and demise – it now seemed that Sound United had thrown them a lifeline…a chance to live to fight another day.

And then they dropped out of sight for the last two years…

What happened to Classé?…

[Read more…] about The Curious Case of the Disappearance of Classé

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point, Products Tagged With: B&W, Bowers & Wilkins, Bowers and Wilkins, Classe, Dave Nauber, Sound United

LG Smokes Q3 Forecast for Record Financial Results

October 31, 2019 by Ted Leave a Comment

LG OLED lighting

LG Electronics Inc. is on a roll, as evidenced by their fiscal third quarter results. The company says it has set an all-time record for third quarter revenues while at the same time booking their best quarterly profit in a decade.

See more details on LG’s Q3 results…

[Read more…] about LG Smokes Q3 Forecast for Record Financial Results

Filed Under: Asian Connection, Brands, Financial, Management, Manufacturers, News Tagged With: LG, LG Electronics, LG Electronics USA

Sharp & Foxconn Stiff Korean Factory Equipment Suppliers on Money Owed

October 31, 2019 by Ted Leave a Comment

Image of Sharp logo

Korean media is reporting that Sharp, the former Japanese powerhouse brand now owned by Taiwan’s Foxconn, is late on approximately tens or even hundreds of millions of dollars worth of payments to Korean factory gear makers. Not only are they late, but they are said to be demanding even more discounts on the outstanding debt owed to multiple South Korean suppliers of factory equipment destined for use in LCD production factories. All of this is being done in violation of covenants in their purchase contracts with these suppliers.

This dispute may raise to level of government intervention.

What is Sharp & Foxconn doing? And why?…

[Read more…] about Sharp & Foxconn Stiff Korean Factory Equipment Suppliers on Money Owed

Filed Under: Associations, Brands, Financial, Management, Manufacturers, News, Strategy Tagged With: Foxconn, LCD panels, Sharp, South Korea

Nortek Figures Prominently, If Not Always Positively, in Melrose Industries’ 1st Half Fiscal Results

October 18, 2019 by Ted Leave a Comment

Melrose logo

Melrose Industries PLC, a U.K. based investment group that purchased Nortek, Inc. back in 2016, released their fiscal 2019 first half financial results last month (for the period ending June 30, 2019). And while the results showed strong sales growth (thanks to a large acquisition) the company still booked a net loss.

Perhaps more interesting, was that Nortek’s Security & Smart Technology unit figured quite prominently in the document – often for the wrong reasons.

See why Nortek was so prominent…

[Read more…] about Nortek Figures Prominently, If Not Always Positively, in Melrose Industries’ 1st Half Fiscal Results

Filed Under: Financial, Management, Manufacturers, News, Strategy Tagged With: Melrose, Melrose Industries, Melrose Industries PLC, Melrose PLC, Nortek, Nortek Inc.

With Loss of Two Potential Buyers, Onkyo’s Future is a Question Mark

October 10, 2019 by Ted Leave a Comment

onkyologo

As you most likely know by now, Onkyo Corp. and Sound United have called off their transaction which would have transferred ownership of the 73-year old Onkyo brand, as well as the Integra, Pioneer, and Pioneer Elite brands to Sound United. The shocking news capped off a nearly five month process where many in the industry tried to figure out just how this deal made sense.

This was the second loss of a potential buyer for Onkyo, which admits it is re-evaluating its future based on the failure to sell off its brands.

See why Onkyo’s future is a question mark…

[Read more…] about With Loss of Two Potential Buyers, Onkyo’s Future is a Question Mark

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: Gibson, Gibson Brands, Gibson Guitar, Integra, Onkyo, Pioneer Elite, Sound United

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Ted Green Bio

A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

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