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Voxx Fiscal 2024 Annual Shareholders Meeting – More Restructuring, Disposal of Brands Ahead

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Investor Relations page on Voxx website

On Tuesday, Voxx International Corporation (Nasdaq: VOXX) held its annual shareholders meeting, closing out a tough Fiscal 2024 with declining sales (down 12.2%) and deepening net losses (up over 53%). Sounding a little defensive, Ari M. Shalam, the company’s Co-Vice Chairman of the Board and son of company founder John J. Shalam, promised investors more restructuring and said the company will shed assets, including some of its previous brand acquisitions, to generate cash to lower debt and prepare the company for healthier growth ahead.

See more on the remarkable Voxx Annual Shareholders Meeting

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VOXX Reports Q1 of Fiscal 2025 Results; Sales Slide 18.1%, Company Cuts Costs

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Voxx website image

All Categories Declined Except Premium Audio, Up 1.6%

Voxx International Corporation (Nasdaq: VOXX) reported its financial performance after markets closed on Wednesday for its Fiscal 2025 first quarter, the 90-day period that ended on May 31, 2024. The result was a mixed bag, including a shocking 18.1% decline in reported net sales, but also a bit of a counterbalance to that with news of a reduced loss due to the company’s extra effort to control and lower its cost structure.

Learn all about the VOXX report released this week

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Masimo Releases Prelim Results for Fiscal 2024 Q2; A Tale of Two Companies

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Masimo preliminary report cover image

In other Masimo Corporation (Nasdaq: MASI) news this week (other than its raging proxy war, that is), the company released its Fiscal 2024 second-quarter revenue performance, and results were quite mixed between its two major divisions – Masimo Healthcare & Masimo Non-Healthcare (aka Masimo Consumer, the Sound United business). The company doesn’t always release preliminary data, but when they do it is typically just a few top-line numbers.

But this particular preliminary report was surprising for the amazing lack of information offered on its Consumer business unit results.

See more on this Masimo Preliminary report for Q2 of Fiscal 2024

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It May Be Hot in NJ, But the Country is Hit by a Blizzard of Masimo Filings

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Masimo from proxy website

Politan: Sound United Must Go

The annual Masimo (Nasdaq: MASI) shareholder meeting is now just four weeks away, and on Wednesday we saw a blizzard of proxy filings by both Masimo management and activist investor Politan Capital Management. The gloves are off and the pugilists are swinging. But how is this fight shaping up? Who has the upper hand?

See more on the Masimo vs. Politan proxy battle

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As LCD TV Biz Slides, Sharp Sells Its Largest Panel Factory to AI Companies

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Sharp Sakai factory

Are Onkyo & Integra Connected to This Story?

In yet another sign of mega changes in the electronics industry, news comes to us out of Japan via the Nikkei that Sharp Corp. – a division of Apple supplier Foxconn – is in negotiation to sell off a majority of the property and factory associated with its largest LCD panel manufacturing facility in Japan. That news alone surprised many in Japan, as Sharp has been a world leader in developing LCD TVs, but also surprising is that it would choose to sell this facility, a flagship for them in Sakai, a coastal city in Osaka.

Also surprising, a bidding war has broken out as multiple big players seek to turn the factory into a data center for use in generative AI, a technology in which Japan feels it lags.

See more on Sharp selling most of its top LCD panel factory for AI

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Resideo, New Owner of Snap One & Control4, Reports Fiscal 2024 Q1 Results

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Resideo cover page for Q1 2024 results

Resideo & Snap One Deal Expected to Close Friday, June 14th

Resideo Technologies, Inc. (NYSE: REZI), a manufacturer and distributor of security and related products for business and home – and soon to be the new owner of Snap One and Control4 – announced its fiscal 2024, first quarter financial results. Considering the looming event that will make Resideo an important partner to many in the custom integration business – the closing of its acquisition of Snap One/Control4 on Friday, June 14, 2024 – I am launching a more detailed coverage of the company.

So…given that Resideo is about to spend $1.4 billion, or 20% of their gross revenues – to acquire Snap One, you’d think that things must be going really, really well for Resideo. But are they???

See how Resideo did in its first quarter of fiscal 2024

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MESSY-mo! Masimo is a Mess – Proxy War, Board Battles, Spin-Off Conflict, Whole Co. Up for Sale, JV Partner Emerges, DOJ & SEC Investigations

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Masimo proxy cover image

The Future of Sound United Continues to Hang in the Balance

SEE STORY UPDATE NEAR END – It is total pandemonium in Masimo land as the company and Politan are engaged in a massive and really, really ugly proxy war ahead of the company’s annual meeting scheduled for July 25, 2024, at the Masimo headquarters in Irvine, CA. Details in dueling proxy filings so far have revealed many things we didn’t know up to now. And almost none of what has been revealed…is good.

Company CEO Kiani is in a fight for his professional life…Sound United is dangling in the wind of an uncertain future – and, frankly, even the entire company’s path forward is a question mark.

See More on matters at Masimo and the Sound United situation…

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Panasonic Decides to Exit High-End Projector Biz; Puts Biz Unit Up for Sale

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Panasonic puts its projector business up for sale

For many generations, Panasonic Holdings has been a leading global technology innovator and while its business model has shifted in the last few years, it still holds much respect around the world. Now we’ve learned that the company has decided to sell off its high-end projector unit in order to refocus its resources on digital supply chain systems.

See more on this consequential decision by Panasonic to drop projectors

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Sonos Says Q2 Fiscal 2024 ‘Exceeded Our Expectations;’ Revenues -16.9%, Losses +127%

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Sonos Q2/FY2024 cover

Sonos, Inc. (Nasdaq: SONO) announced its financial performance for the second quarter of Fiscal 2024, the period that ended on March 30, 2024. The numbers, as we’re seeing more consistently across a wide variety of consumer brands, were rough…really rough. Revenues in the quarter declined a nasty 16.9% and the company’s Net Loss more than doubled, increasing by a scary 127%.

Yet CEO Patrick Spence claimed in a statement that “…we delivered results that slightly exceeded our expectations…” Either they were expecting a really devastating result, or I’ll have whatever he’s having!

See more on the Sonos Q2 Fiscal 2024 results

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VOXX Fiscal 2024 Results Reveal 2nd Year of Deteriorating Sales & Deepening Losses

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VOXX headquarters

Value of VOXX Stock Drops 23.9%…Hits New 52-Week Lows

After markets closed on Tuesday, VOXX International Corporation (NASDAQ: VOXX) released its Fiscal 2024 fourth quarter and full-year financial results for the period ending February 29, 2024…and it wasn’t a pretty picture. Net sales in Fiscal 2024 were down a double-digit percentage at 12.2% and the company’s Net Loss ballooned to an eye-popping $45.6 million.

What can investors expect in Fiscal 2025 from Voxx? At best, flat sales but the company is hoping to engage in a protracted restructuring process to try and reattain profitability.

See more on the VOXX report of financial performance in fiscal 2024

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