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Snap One Reports Mixed Results for Fiscal ’22 Q4 & Full Year; Forecasts 2023 Resi Decline

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Cover page of Snap One presentation to financial analysts

Red Flags: Residential Market is ‘Softening’; Consumers are ‘Cautious’; Channel Inventory ‘Destocking’

Snap One Holdings Corp. (NASDAQ: SNPO) released their fiscal 2022 fourth quarter and full-year results after the close of the market on Tuesday and held a conference call for investment analysts shortly afterward with more details. The company produced a prodigious amount of data that they suggest shows success in the face of adversity, and forecast a decline in their performance in fiscal 2023.

They also said the industry slowed down in 2022 and will continue to be slow for the first three quarters of 2023.

See more on the latest Snap One earnings report and forecast

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Azione Unlimited Spring Conf. Shows Members Their Future is Unlimited

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Photo from Azione Unlimited's Spring Conference called the Didactic Dovecote in the Desert

Launches Two Major Initiatives Partnering with Nationwide

On Thursday, Azione Unlimited wrapped up its spring conference, this year known as the Didactic Dovecote in the Desert, which took place in Scottsdale, AZ from March 7th to March 9th. Although this is the first Azione event I have personally attended, it was an impressive display of solidarity, sharing, learning, and planning with a lot of enthusiastic participation by the organization’s members and vendors.

Perhaps most importantly, as part of the Nationwide Marketing Group’s family of companies, the association announced two major new initiatives: the Azione Academy, an online self-paced education program; and the Drive to 1,000 collective membership drive. This initiative by Nationwide is their plan to drive collective group membership to 1,000 members overall.

Learn more about the Azione spring conference…

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Integra Adds DRX-8.4 Deeply Featured Flagship AVR to Its Integrator Lineup

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Integra DRX-8.4 flagship AV receiver

Premium Audio Company, a VOXX company, announced this week the launch of an all-new, deeply featured Integra flagship audio/video receiver (AVR) to cap its remarkable DRX line first introduced in 2021. The new DRX-8.4 offers 11 channels of 150 watts of Integra symmetric class AB room-shaking power. This unit is stuffed with all of the latest technology offering integrators an unprecedented level of flexibility and system control.

Learn all about the new Integra DRX-8.4 AVR

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RoseWater Energy Joins in Local Energy Day Dealer Presentations

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RoseWater Energy founders
The founders of RoseWater Energy Group – Joe Piccirilli, Mario Bottero, and Marco Lorenti

RoseWater Energy Group said today that it is participating in multiple Energy Day education seminars being held by local sales representatives around the country. These events are being held in February and March and provide dealers with an informative half-day education session on the importance of power as the foundation for any home automation or smart home solution.

See more on these RoseWater energy seminars…

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Once Again Moody’s Downgrades the Credit of AVDG Parent Guitar Center

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Photo of Guitar Center store in Manhattan. Guitar Center owns AVDG
Guitar Center in Manhattan

Moody’s Investors Service (Moody’s) announced recently that it has once again downgraded the overall credit rating of Guitar Center Inc. – the owner of custom integrator Audio Visual Design Group (AVDG). The agency has dropped its creditworthiness from B2 to B3. Not only that, Moody’s notes that it has additionally downgraded the company’s rating on a specific item – its senior secured note – to Caa1 from B3. The outlook for the near term is said to be “stable.”

This is yet a new chapter in a long-troubled private equity-owned company swimming in debt and trying to grow itself out of trouble.

See more on Moody’s analysis of Guitar Center/AVDG…

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Russound Says ISE 2023 was a Blast

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Charlie Porritt/Russound (L), Mike Blackman/ISE (C), and Pete Baker/Russound Rep (R)

Russound released a statement today from CEO Charlie Porritt who summed up their experience at the recent ISE 2023 event in Barcelona. According to Porritt, the show was “one of the most productive, well-run, and enjoyable trade events to date.” It doesn’t get much better than that…

See more on Russound’s experience at ISE 2023

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The Transformation Begins: Parasound Appoints Larry Bennett as VP of Sales & Marketing

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Parasound logo

Parasound announced today that it has appointed Larry Bennett, a well-known audio industry veteran, as its Vice President of Sales and Marketing. The company says that this is the first step in new owner David Sheriff’s plan to revitalize the company.

See more on Larry Bennett’s appointment at Parasound

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CEDIA Intros New Workforce Initiative – NextGen: Smart Home Career Toolkit

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CEDIA NextGen Smart Home Career Toolkit image

CEDIA has launched a new workforce acquisition initiative called CEDIA NextGen: Smart Home Career Toolkit. Designed to provide integrators the tools they need to improve and expand their outreach to attract new candidates to the smart home industry, the association has created an impressive series of multimedia tools to grease the skids in getting new recruits through integrators’ doors.

Learn more about this new CEDIA workforce initiative

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Influential East Coast Integrator Bob Gullo Dies

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Bob Gullo

Services to Be Held February 10th in Pearl River, New York

Robert R. (Bob) Gullo, founder, President, and Chief Creative Officer of influential East Coast integrator Electronic Design Group, Inc. (EDG) died on Wednesday, February 1, 2023. According to several sources, the cause of death was cancer. A creative, energetic promoter of the then-nascent custom installation, now custom integration, industry, Gullo played an influential…even outsized…role in the development of the industry and was an oft-cited inspiration for many others to follow his path and embrace the industry.

Learn more about the life of Bob Gullo

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Crestron Announces ‘Modern Work Summit’ on Latest Workplace Trends

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Crestron announces Modern Work Summit 2023

Crestron Electronics, a leading provider of smart workplace collaboration technology, announced today that in May 2023, it will hold another Modern Work Summit 2023 in Madrid. A follow-up to the first such event held in Orlando, FL last year, Modern Work Summit 2023 is a two-day in-person event centered on the topic of the dynamic and evolving workplace of today (and tomorrow), and the technology that helps power the transition.

See more on the Crestron Modern Work Summit 2023

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