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Management

Audio America / Next Level Distribution Files a Form of Receivership in Florida

October 4, 2023 by Ted Leave a Comment

Title page of the Audio America and Next Level Distribution ABC filing

Audio America, Inc., the surviving entity that merged with Next Level Distribution and Next Level Fulfillment has filed formal paperwork for an Assignment for the Benefit of Creditors (ABC), a form of receivership, with the Circuit Court of the 17th Judicial Circuit in Broward County, Florida. The move was widely rumored but only confirmed Tuesday. Also joining in this ABC is another entity known as Ecomhalo, LLC, a related company.

The news confirms much of what we heard last month regarding the impending liquidation of a major U.S. distribution company.

See what we learned in Audio America / Next Level Distribution’s ABC filing

[Read more…] about Audio America / Next Level Distribution Files a Form of Receivership in Florida

Filed Under: Distributors, Financial, Management, News Tagged With: Audio America, Ecomhalo, Next Level Distribution, Ryan Munder

VOXX Int’l Announces Extension of CEO Lavelle’s Contract and Other Exec. Changes; Stock Drops

October 2, 2023 by Ted Leave a Comment

Voxx Int'l logo

VOXX International Corporation [NASDAQ: VOXX] (VOXX Int’l) announced this morning before the stock market opened several executive changes, including the extension of the employment agreement of VOXX Chief Executive Officer Pat Lavelle. How did Wall Street react to this news? The value of VOXX stock showed a significant decline on a day when the NASDAQ exchange, where VOXX is traded, saw an overall increase of nearly +2/3rds of a percent.

See more on changes in the VOXX Int’l executive suite

[Read more…] about VOXX Int’l Announces Extension of CEO Lavelle’s Contract and Other Exec. Changes; Stock Drops

Filed Under: Financial, Management, Manufacturers, News Tagged With: Pat Lavelle, Voxx International, VOXX Intl

After Time on Defense, Team Crestron Goes on Offense…and They are Fired Up

August 24, 2023 by Ted Leave a Comment

Crestron at 15 Volvo Drive in Rockleigh, NJ

Earlier this week, I had a consequential visit with Crestron Electronics Corp. in which company executives talked about the overall business environment, supply chain issues, several new products, and their strategy going forward. It was quite revealing not only in content…but in tone.

It quickly became clear to me that after a period of playing defense, Crestron is going on offense…

See more on what I learned from my visit to Crestron

[Read more…] about After Time on Defense, Team Crestron Goes on Offense…and They are Fired Up

Filed Under: Management, Manufacturers, News, Strategy Tagged With: Brad Hintze, Crestron Electronics, John Clancy

Snap One Reports 2nd Quarter Fiscal ’23 Results; Net Sales Declined, Net Loss Reduced

August 18, 2023 by Ted Leave a Comment

Snap One cover photo

Last week, Snap One Holdings Corp. (Nasdaq: SNPO) released its financial results for the second quarter of fiscal 2023, the 13-week period ending June 30, 2023. The company reported mixed results with a continuing sales decline but with a reduced net loss in the quarter.

See more on the SnapOne 2nd quarter fiscal ’23 report

[Read more…] about Snap One Reports 2nd Quarter Fiscal ’23 Results; Net Sales Declined, Net Loss Reduced

Filed Under: Brands, Financial, Management, Manufacturers, News Tagged With: quarterly earnings, Snap One

Emerald Expo Shows Big Increases in 2nd Qtr of Fiscal ’23; Revenues Up 21%, Losses Up 1,057%

August 9, 2023 by Ted Leave a Comment

Emerald Holding Inc. cover page of a financial presentation

Mixed Results from Owner of CEDIA Expo and CEPro

Emerald Holding, Inc. (NYSE: EEX) (Emerald) owner of Emerald Expositions, a leading B2B exposition company, as well as the CEDIA Expo, CEPro, and Commercial Integrator media properties, announced its financial performance in the second quarter of fiscal 2023. While results were mixed with both increased revenues and increased losses, the company struck an optimistic tone, saying it is on track to generate $400 million in revenues and $100 million in “Adjusted” EBITDA (a measure of profits) in the current fiscal year.

See more on Emerald’s fiscal ’23 second quarter results

[Read more…] about Emerald Expo Shows Big Increases in 2nd Qtr of Fiscal ’23; Revenues Up 21%, Losses Up 1,057%

Filed Under: Financial, Management, News, Shows & Events Tagged With: David Doft, Emerald Expositions, Emerald Holding Inc., Herve Sedky, quarterly earnings

Savant Realigns Ops, Salesforce, & Pricing for Next Phase of Growth

August 3, 2023 by Ted 1 Comment

Savant president JC Murphy
JC Murphy, President of Savant, on Zoom call with Strata-gee

There has been a flurry of activity in the Savant ecosphere lately, much of it causing a buzz in the industry. Over the last few weeks, I’ve had several integrators reaching out to let me know about some of these changes. Not all felt they were positive and many questioned the motivations behind the moves. Accordingly, I reached out to Savant to see if I could get some insight into just what is going on. The company responded by making President JC Murphy available to update me on a few of their recent moves.

See what Savant’s JC Murphy told me about recent changes

[Read more…] about Savant Realigns Ops, Salesforce, & Pricing for Next Phase of Growth

Filed Under: Management, Manufacturers, News, Sales Reps, Strategy, Technology Tagged With: JC Murphy, restructuring, Savant

Nice Announces ‘Pivotal Changes’ in N.A. Operations to Drive Growth

August 2, 2023 by Ted Leave a Comment

Home page on the Nice website

Nice North America, part of the globally significant Nice S.p.A. of Italy, announced this week that it has implemented what it calls pivotal changes within its North American operations (U.S. and Canada) that it believes will “further boost growth and innovation.” It is the first major structural change here in the U.S. since Italy’s Nice acquired Nortek Security and Control from Melrose PLC back in October 2021.

See the changes Nice is making in North American Ops

[Read more…] about Nice Announces ‘Pivotal Changes’ in N.A. Operations to Drive Growth

Filed Under: Brands, Management, Manufacturers, News, Strategy Tagged With: Emanuel Bertolini, Luca Longhin, Nice North America, Roberto Griffa

AudioControl Residential Division Acquired by AVPro Global Holdings

August 1, 2023 by Ted Leave a Comment

Some AVPro Global products

BREAKING NEWS

This morning, AVPro Global Holdings, Inc., a maker of a wide variety of audio/video gear and services, announced it has acquired the residential division of AudioControl from AAMP Global. Like King Solomon, the move “splits the baby” in half along its logical business lines with AVPro Global taking over AudioControl’s residential division, while AAMP Global retains its mobile electronics business.

See more on the AudioControl acquisition by AVPro Global

[Read more…] about AudioControl Residential Division Acquired by AVPro Global Holdings

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point Tagged With: AudioControl, AVPro Global, Jeff Murray

‘There is No Solace I Can Offer;’ VOXX CEO Announces 14% Cut in Jobs

July 25, 2023 by Ted Leave a Comment

VOXX letter to employees

In a letter to employees earlier this month, VOXX International Corp. (Nasdaq: VOXX) CEO Pat Lavelle painted a dark picture of the economic environment the company finds itself mired in, noting its significant sales declines and mounting losses. If you were a VOXX employee reading the opening phrases of this letter, I’m pretty certain a feeling of dread would sweep over you – sensing where this communication is heading.

And you would be right, as later in the correspondence, Lavelle reveals a plan to cut “more than 150 employees” along with a series of other steps to cut costs and lower overhead. And these cuts are on top of the job cuts the company has already implemented in 2022, as it tries again to right the ship.

See more on VOXX management’s missive to employees

[Read more…] about ‘There is No Solace I Can Offer;’ VOXX CEO Announces 14% Cut in Jobs

Filed Under: Financial, Management, Manufacturers, News Tagged With: layoffs, Pat Lavelle, Voxx International

Voxx Intl 1st Qtr Fiscal ’24 Results Hit Hard; Premium Audio Sales Drop -32%

July 12, 2023 by Ted 6 Comments

Voxx International website

VOXX International Corporation (Voxx) (Nasdaq: VOXX) reported its financial results for the first quarter of fiscal year 2024 and the numbers were not pretty. The first quarter is the period ending on May 31, 2023, and overall net sales n the quarter dropped by -13.1%, with a net loss increase of 65%. The hardest hit segment was the company’s Premium Audio Company division – home of brands like Onkyo, Pioneer, Integra, Elite, and more – which saw sales collapse by -32%.

Learn more about Voxx Intl’s rough first quarter of fiscal 2024

[Read more…] about Voxx Intl 1st Qtr Fiscal ’24 Results Hit Hard; Premium Audio Sales Drop -32%

Filed Under: Financial, Management, Manufacturers, News Tagged With: Pat Lavelle, Premium Audio Company, quarterly earnings, Voxx International

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Ted Green Bio

A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

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