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Masimo Management Slaps Politan & Koffey Back; Decries ‘False Claims’

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In a Dispute About Sound United, The Parties Don’t Sound United

Masimo Corporation (Nasdaq: MASI) announced on Monday that it could confirm that activist investment group Politan Capital Management – whose founder and Chief Investment Officer is Quentin Koffey – has provided it with notice of its intent to nominate two candidates to stand for election to the company’s Board of Directors at its upcoming 2024 Annual Meeting. This action by Politan, management says, “run[s] counter to the stockholders’ best interests…”

Oh-oh…the knives are coming out…

See more on Masimo’s response to Politan and Koffey

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Masimo Drama Intensifies as Activist Investor Nominates 2 More Directors

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Politan’s Koffey Makes Move to Seize Control of Company

One business day after Masimo Corp. [Nasdaq: MASI] announced plans for a spin-off of its Consumer division, the business unit formed by the acquisition of Sound United, activist investor Politan Capital Management and its CIO Quentin Koffey – a current Masimo Director – announced the nomination of two more independent director candidates for the Board of Directors. In a statement accompanying the announcement, Koffey takes the gloves off alleging Board dysfunction, uncooperative management, and says Kiani’s desire for control “is troubling.”

Pop a fresh bowl of popcorn and settle into a comfortable chair…things are getting pretty interesting in this story of escalating boardroom and management drama.

See more on the rising drama at Masimo

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Masimo Board ‘Authorizes’ Management to Prepare Spin-Off of Consumer Unit

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BREAKING NEWS

Masimo home page

In a release distributed late in the day on Friday after the close of financial markets, Masimo announced that the Board of Directors has “authorized” company management to prepare a spin-off of the company’s Consumer Business. Masimo Consumer is the business unit created when the company acquired Sound United in early 2022.

See more on Masimo spinning off the Consumer division

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Snap One Closes Out a Tough Year; They Say Next Year Will Be Better…Maybe

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Cover page of Snap One Fiscal Q4 & FY 2023 results

Company Turns To Forced Client Fees to Improve Its Results

At the end of last week, Snap One Holdings Corporation [NASDAQ: SNPO] announced the results of its Fiscal Fourth Quarter and Full Year 2023. Much as we’ve seen quarter-by-quarter all year long, the company remained subsumed by a challenging “destocking” market, with Net Sales in Fiscal 2023 finishing down 5.6%, and its Net Loss last year increasing by another 146.3% this year. CEO John Heyman called it “another strong year.”

But was it truly “another strong year?”

See more details on the Snap One Fiscal 2023 performance

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Emerald, Owner of CEDIA Expo & CE Pro, Says 2023 Revenues Rise 17% but Profits Drop 102%

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Emerald Holding, Inc. (NYSE: EEX), the parent company of Emerald Expositions, one of the country’s largest B2B tradeshow exposition companies, reported its Fiscal 2023 fourth quarter and full-year results. The results were mixed with full-year revenues growing by 17.5% compared to Fiscal 2022, but profits collapsing by 102% to a Net Loss.

Company management expressed extreme optimism on a call with financial analysts, but its stock value dropped dramatically the day it released these numbers.

Learn more about the Emerald Holding results for Fiscal 2023

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Masimo Fiscal 2023 Q4 & Full Year Results Show Continued Drop in Consumer Spending on Audio

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Masimo Fiscal 2023 results

Masimo Corporation (Nasdaq: MASI) announced on Tuesday its financial results for the fourth quarter and full year of fiscal 2023, the period that ended December 30, 2023. Results were mixed with revenues down double digits in the quarter but flat for the year. But a more sobering picture emerged for the “non-healthcare” division, also known as Masimo Consumer, which is the division that was formed when the company acquired Sound United almost exactly two years ago.

Learn more about the Masimo results for fiscal 2023 and the fourth quarter

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Sonos 1st Quarter Fiscal 2024 Revenues Decline But Margins & Profits Improve

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Sonos FY24 Q1 results

On Tuesday, Sonos, Inc. [Nasdaq: SONO] reported its first quarter, fiscal 2024 results for the period that ended December 30, 2023. While the actual numbers were a bit of a mixed bag with revenues down – even though the company embarked on a strong holiday promotional push – the company booked strong gross profit improvements and generated more cash beating Wall Street estimates. This resulted in a big jump in its share price on the next trading day.

See more on the performance of Sonos in Q1 of fiscal 2024

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Nailed It! Masimo Preliminary Results for Fiscal ’23 Q4 & Full Year are Within Guidance

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Will Exclude Apple Litigation Fees from Future Guidance

On Wednesday, Masimo Corporation (NASAQ: MASI) released preliminary results for its Fiscal 2023 fourth quarter and full-year results and issued new guidance representing its outlook for Fiscal 2024. Even though its final results won’t be announced until next month (February) the company has enough information to issue these preliminary results now, giving investors a better picture of how their fiscal quarter and year will end.

Masimo also announced it would change its formulation for future guidance by excluding the extensive costs associated with its litigation with Apple.

See more on this report from Masimo

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VOXX Reports Fiscal ’24 Q3 Results, Cites a ‘Slowing’ Economy & ‘Continued Softness’

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New VOXX product, the Klipsch Flexux powered by Onkyo

VOXX Stock Loses Over 12% of Its Value the Next Trading Day

After the close of markets on Tuesday, VOXX International Corporation (NASDAQ: VOXX) released its Fiscal 2024 third-quarter financial results for the period ending November 30, 2023. Citing continued challenging macroeconomic conditions in 2023, the company reported that its third-quarter sales declined 5.4% and net income dropped 74.3%. CEO Pat Lavelle, who was participating in an analyst conference call on its earnings by phoning in from CES 2024, started his presentation somberly, saying to analysts that, “2023 has been tough for everyone, not just Voxx. Our entire industry has had a very challenging year.”

Learn more from the VOXX fiscal ’24 3rd quarter earnings report

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Savant Acquires Long-Time Partner J Geiger Shading

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Savant demos Apple air tag triggering an automation controlling shades
At CEDIA Expo ’23 Savant showed a J Geiger motorized shade controlled by Apple Air Tags triggering an automation [click to enlarge]

Savant Systems, Inc., a leading provider of control, home automation, smart home, and smart power solutions, announced on Monday that it has acquired the assets of J Geiger Shading, a leading provider of architecturally conscious shading products. The two companies have had an ongoing association for several years now, and this new transaction brings J Geiger products under the Savant umbrella.

See more on Savant acquiring the assets of J Geiger Shading

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