Sonos, Inc. this week reported a strong first quarter for their 2020 fiscal year. In fact, the company says it had a record quarter with strong revenue and profit gains.
Sonos Reports Record Fiscal First Quarter 2020 Results
Financial
Savant Sister Company Racepoint Energy Acquires NOON Home
Racepoint Energy, sister company of Savant Systems LLC, announced this week that it has acquired innovative residential lighting control provider NOON Home. Based in Campbell, CA, NOON offers an impressive array of intuitive lighting and intelligent control solutions.
Learn more about NOON & Savant…
[Read more…] about Savant Sister Company Racepoint Energy Acquires NOON HomeOnce Again, Melrose Considers Disposing of Nortek; This Time It’s Serious
Melrose Industries plc, the British turnaround specialist who acquires underperforming companies to improve their operations and management for resale, is now actively considering selling off the bulk of Nortek in a deal that could be worth $3 billion, according to reports from Bloomberg News and the Financial Times. If they actually execute this sale, it will be a relatively early exit from their ownership of Nortek which they purchased in 2016 for $2.8 billion.
See why Melrose is ready to exit Nortek…
[Read more…] about Once Again, Melrose Considers Disposing of Nortek; This Time It’s SeriousA Deeper Dive into the Troubling Emerald Expositions Fiscal Q3 Report
Company Says Declining CEDIA Expo Revenues is Partly to Blame
If you saw my recent article on the Emerald Expositions’ leadership turmoil (See: More Leadership Turmoil Hits Emerald Expositions), in addition to covering the fact that their new CEO (just started in June) was leaving the company at the end of the year, I also provided some sobering key figures from their recent fiscal third quarter results report. I have done a deeper dive into their report, only to uncover even more troubling information.
See what I discovered in Emerald Expositions Q3 report…
[Read more…] about A Deeper Dive into the Troubling Emerald Expositions Fiscal Q3 ReportIn a Surprise Reveal, Netflix Shows Investors Its Huge Advantage Over New Streaming Competitors
You knew they were big, but you didn’t know just how big streaming innovator (and leader) Netflix really was…until now. In a bid to prove to investors they have what it takes to stave off a whole new class of streaming competitors, Netflix released some detailed numbers on their global subscription base that has Wall Street really buzzing.
See what Netflix has revealed to investors…
[Read more…] about In a Surprise Reveal, Netflix Shows Investors Its Huge Advantage Over New Streaming CompetitorsMore Leadership Turmoil Hits Emerald Expositions
CEO to Exit by Year End; COO Steps into Interim Role While Search Begins
Emerald Expositions Events, Inc. (Emerald) (NYSE:EEX), parent company to the CEDIA Expo show and industry trade magazines CE Pro & Commercial Integrator, announced this week that CEO Sally Shankland will be leaving the company by the end of this year. Shankland was appointed CEO just this past June 2019, and has said she will step down “for personal health reasons.” Once again, the organization is plunged into a leadership vacuum which began just one year ago with the sudden resignation of then-CEO David Loechner.
More on the new Emerald CEO transition…
[Read more…] about More Leadership Turmoil Hits Emerald ExpositionsAudio Design Associates Warns of Imminent Company Shutdown
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 ShutdownSonos Announces Record Fiscal 2019 Results; Acquires Snips
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 SnipsLast Week Onkyo, Now Sound United Reorganizes in Wake of Failed Acquisition Deal
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 DealOnkyo to Slash Overall Company Headcount by 30%, Cutting Management by 50%
Also: Consolidating Facilities & Moving Headquarters
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.
