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Snap One Sees Q3 Revenues Increase Thanks to Price Increase & More Dealers

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But a 57% Increase in SG&A Expenses Swung the Quarter to a Net Loss

Snap One Holdings Corp. (NASDAQ: SNPO) announced the results for its fiscal 2021 third quarter last week and said that thanks in part to an August 2021 price increase and continued expansion of its dealer base, the company booked a substantial revenue increase to $260.7 million, or 15% higher than the same quarter the year before. However, the company additionally reported a net loss of -$21.5 million, way below the net income of $1.4 million in the quarter last year, due to a significant increase in SG&A expenses.

See more on the Snap One 3rd quarter results

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Snap One Continues Local In-Market Expansion; Adds New Florida ‘Store’

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snap one partner store logo

Snap One announced this week that it has opened another “Partner Store” – a locally based warehouse location – that carries its products as well as other brands and offers support and training for area integrators. This new location opened in Hollywood, Florida, and – interestingly – is being operated by their Allnet branch.

See more on the continued expansion of Snap One

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CEDIA Appoints New Head of Education & Training

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Photo of CEDIA HQ
CEDIA’s new headquarters building in Fishers, Indiana

Custom Electronic Design & Installation Association (CEDIA) announced today that it has appointed Amanda Beckner as its new Vice President of Education and Training. Beckner replaces the recently departed Samantha Ventura and is said to bring two decades of experience to the role. Most notably, Beckner was VP of Learning for AVIXA, the commercial integrator trade group.

Learn more about Amanda Beckner at CEDIA

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Emerald Says Fiscal ’21 Q3 Revenues Up & Losses Down as Live Shows Restart

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CEDIA Expo 2021 staged by Emerald

But Were Things as Rosy as Its Report Suggests?

Emerald Holding, Inc. [NYSE:EEX] (Emerald), formerly Emerald Expositions and owner of the CEDIA Expo and CE Pro, announced this week that, thanks to the restart of live events in the third quarter of fiscal 2021, they were able to see a substantial reduction in their net losses on a significant revenue gain as compared to the same quarter in 2020 – the year of COVID shutdowns. While the company is still battling its event cancellation insurance providers in a California court for reimbursement for past canceled and impacted events, they say that they see the road to recovery ahead.

See more on the Q3 announcements from Emerald

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UEI Earns Wide National News Coverage for All the Wrong Reasons

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UEI screenshot with logo

Allegations of Conspiring With China’s Gov’t to Use Uyghurs in a Forced Labor Arrangement

In a rare show of bipartisanship, a group of U.S. Senators has sent a strongly worded letter to a leading consumer electronics industry remote control maker Universal Electronics, Inc. (UEI) launching a probe into the company’s hiring practices in China. Unique to UEI is that they own their own factories in China (most contract with existing China OEM factories) and a recent damning investigation by Reuters alleges the company is working with the Chinese government to utilize a widely persecuted Uyghur minority in a forced labor arrangement, a human rights violation. UEI has denied the accusation but so far has not provided data to back up their denial.

See more on the UEI labor situation in China

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CEDIA Names Daryl Friedman as New CEO; Has Extensive Association Experience

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Photo of Daryl Friedman

New CEDIA CEO Tells Strata-gee, ‘I Promise You Transparency’

The Custom Electronic Design & Installation Association (CEDIA) announced today that it has named Daryl Friedman as its new Global President & CEO. Friedman’s appointment is effective as of November 27, 2021. Don’t know that name? I’m not surprised as Friedman, an experienced Association executive, comes from the Recording Academy…the folks who bring you the Grammy awards. In an interview this week, Friedman told me that he’s close to the engineers and producers – the highly technical folks in his current association – so he brings a clear technology appreciation to his new role.

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Well-Known Industry Vet Lawrence Davis Joins Vital

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logo for Vital

CI coaching business Vital announced this week that well-known industry veteran Lawrence Davis has joined the company as its new VP of Business Development. The company says that this move is “the first step in their growth plan.”

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Moody’s Upgrades Credit Rating of Once Bankrupt Guitar Center, Parent of AVDG

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Moody’s Investors Service, one of the nation’s largest credit rating agencies, announced last week that it has raised the credit rating of Guitar Center, the owner of custom integration company Audio Visual Design Group. Guitar Center has struggled for years, finally falling into bankruptcy – from which it emerged about ten months ago in December 2020.

Read more about Guitar Center & AVDG’s elevated rating

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Nortek Security & Control Acquired by Italy’s Nice

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Nice headquarters in Oderzo, TV, Italy

Nice, a global manufacturer of Smart Home, Security, and Home & Building Automation products based in Italy, announced today that it has acquired Nortek Security & Control – purchased from Melrose plc for $285 million. The move expands Nice’s portfolio and strengthens its North American presence.

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Executive Search Firm The Park West Group Names Managing Director

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A leading tech industry-focused executive search firm, The Park West Group, has recently expanded by adding Mark Crandell as its Managing Director. The company, which touts the tagline “Wired for Success,” says this expansion of its team will both help to drive organizational effectiveness and open new opportunities for growth.

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