“Sharp has fallen on hard times again,” declared an at times shocking report in the Nikkei this week. The statement comes in the wake of the company announcing on Tuesday that, rather than their forecast of a profit for the current fiscal year, the company will in fact book a net loss. And this disappointing news will almost certainly drive the call for a much more drastic restructuring than has been accomplished in the past – with the company reportedly considering pulling out of the television business in North America altogether.
Financial
Irony: Apple Reports Historic Fiscal Quarter Results – Sony Announces More Layoffs
Two rather significant news stories emerged today – one about Apple’s amazing Q1 fiscal results and the other about Sony’s troubled mobile division – and we couldn’t help but notice an incredible irony. In a way, it’s almost a tale of two CE industries.
See more on the incredibly irony of today’s top news stories… [Read more…] about Irony: Apple Reports Historic Fiscal Quarter Results – Sony Announces More Layoffs
Nortek Acquires Anthro Corporation
BREAKING NEWS
Nortek, Inc. announced today that it has acquired Anthro Corporation through its Ergotron division. Anthro makes and designs a range of technology furniture. Nortek said that it financed the purchase using cash on hand and its existing asset-based lending facility.
See more on this acquisition… [Read more…] about Nortek Acquires Anthro Corporation
Company Warns Media & Investors, Sharp Pain is Coming
Sharp Corp. this week began warning the media and, through them, investors that it is likely to miss its forecasts for revenues and profits for the fiscal year set to end March 31, 2015…and miss big. Just days after the International Consumer Electronics Show in Las Vegas where Sharp excitedly showed a large roster of new products, the company is hinting that it may have to take extraordinary steps to stem a newly expected tide of red ink.
See more on this remarkable admission from Sharp… [Read more…] about Company Warns Media & Investors, Sharp Pain is Coming
Despite Revenue Decline, JVC Kenwood Cuts Losses as Restructuring Takes Hold
JVC Kenwood Corp., the troubled consolidation of two struggling Japanese brands, seems to have turned a corner despite reporting fiscal Q2 and first half revenue declines and continuing losses. The company, which in January surprised many by announcing its decision to withdraw from the consumer electronics business to focus on B-to-B business, announced with pride that – although still showing a loss – the company has seen solid improvement in profits with dramatically reduced losses.
See more on this huge company in a big transition… [Read more…] about Despite Revenue Decline, JVC Kenwood Cuts Losses as Restructuring Takes Hold
Yamaha’s Fiscal First Half Results are Mixed
Yamaha Corporation released the results for its fiscal first semester or first half of the fiscal year 2015 (April 1, 2014 – September 30, 2014) with results generally positive, but mixed. Overall consolidated sales increased 4.4% to ¥206.4 billion ($1.9 billion) as compared to ¥197.7 billion ($1.8 billion) in the same period last year. But of some concern is the fact that only one of its four major business segments showed an increase in operating profits – and two of the four lost money during the period.
See more on Yamaha’s financial performance… [Read more…] about Yamaha’s Fiscal First Half Results are Mixed
Nortek Releases Q3 Results; Has AV Turned a Corner?
Nortek, Inc., a diversified manufacturer of commercial and residential products largely targeted towards the new construction business, announced on Monday the financial results of the third quarter of their current fiscal year. Overall, the results were mostly positive, although two of their business units saw revenues decline in the quarter. Surprise…surprise…neither of them were the newly designated AVC (Audio Video Control) segment, as you (and we) might have suspected.
AVC showed a sales increase. Does this mean AVC has turned a corner in results?… [Read more…] about Nortek Releases Q3 Results; Has AV Turned a Corner?
Everything’s Fine, Says Control4; But Investors See Monsters Under the Bed
This story is being written on Halloween – hence, the “monsters” in the headline. On Thursday, Control4 released the financial results for their fiscal third quarter and held a conference call for analysts and investors. The numbers all looked good and the management team rightly crowed about their prowess. But during the Q&A session tough questions emerged…
See what had some analysts a little spooked… [Read more…] about Everything’s Fine, Says Control4; But Investors See Monsters Under the Bed
Ingram Micro’s Q3 Financials Show Sales Up; Profits Down
Ingram Micro, Inc. released the financial results for their fiscal third quarter (the period ending Sept. 27, 2014) showing generally positive results. Sales for the quarter increased to $11.2 billion, a $1 billion or 11% increase over the $10.2 billion for the same period last year. According to Ingram Micro CEO Alain Monié, the increase was due primarily to “new wins” and “strong market share.”
But while gross profits were up, gross margins, operating income, and net income were all down for the period…and that fact led us to take a closer look.
See our report below on the financial results for Ingram Micro… [Read more…] about Ingram Micro’s Q3 Financials Show Sales Up; Profits Down
Big Changes at Core Brands: Pollock Retires & Keller is Out
BREAKING NEWS
We received word late today of big changes taking place at Core Brands as the company announced that President Bill Pollock will retire “after 27-years leading Panamax-Furman” and Core Brands. Pollock’s retirement becomes effective at the end of the year and he will be replaced by Joe Roberts, currently Core Brands Vice President of Products and Marketing.
The company also announced that Senior Vice President of Sales Dave Keller will be also leaving the company “before the end of the year.” Interestingly, there was no reason given for Keller’s departure.
