Sound United, parent company to a wide range of audio lines, announced this week that it has hired Trip Randall, a former executive with sneaker & sports gear maker Nike, to be the new President of Denon. The company says this move is part of their plan to “revitalize marketing” at Denon. They also say they are looking to “boost direct-to-consumer sales” as well as several other initiatives.
On Tuesday, Sonos held a major investors event that started off with the introduction of their new Roam portable speaker. But the real purpose of this event was to provide investors information on their financial performance. And stock analysts and the media got quite a show – and a few surprises – as the company revealed their formula for success.
Learn what Sonos says is their success formula…[Read more…] about Sonos Car Audio and Other Surprises at Investor Event
Melrose Industries Plc has announced that their financial results for fiscal 2020 and it wasn’t pretty. The company swung to a net loss on lower revenues. They said this was mostly due to the Coronavirus pandemic’s massive impact on its GKN Aerospace division. To streamline operations and raise cash, Melrose told the press that it has again put Nortek up for sale.
See more on Melrose putting Nortek up for sale…[Read more…] about Melrose Makes It Official: Nortek is For Sale…Again
This week, AudioControl said it has awarded Market Share, a manufacturer sales representative firm, its 2020 Rep of the Year for their home audio products division. Market Share is based in the Pacific Northwest and covers the entire region, including Alaska.
See more on the AudioControl Rep of the Year…[Read more…] about Top AudioControl Rep for Home Audio Products in 2020 is Announced
That an exposition company lost money in 2020 is not surprising. That an exposition company (Emerald) that has cancellation insurance to cover lost revenues on every show they own that was cancelled during the year – and still lost $633.6 million in fiscal 2020 – is surprising.
See the Details Behind This Big Loss at Emerald…[Read more…] about CEDIA Expo & CE Pro Owner Emerald Expo Books $633.6 Million Net Loss
On Wednesday after the close of markets, Sonos announced that it had turned in a record first quarter in their current 2021 fiscal year with revenues up, profits up, long-term debt down and new records set in several performance categories. In fact, actual performance came in so much stronger than the company had originally anticipated, that after just this first quarter of the year they announced they were revising and raising their guidance for their anticipated revenues and profits for the remainder of the fiscal year.
But were there any dark clouds in the super sunny Sonos report?[Read more…] about With Direct Sales Expanding, Sonos Reports Record 1st Qtr Fiscal 21 Results
At the end of January, Savant held their popular annual Integrator Summit – its 15th summit ever…but its first such summit held online as a virtual one. In a Zoom meeting with industry media following the summit, President J.C. Murphy recapped the event which is held privately with only Savant integrators in the room.
Savant had a lot to talk about.
See more on the Savant 2021 Integrator Summit…[Read more…] about Savant Integrator Summit Celebrates 2020 & Kicks Off 2021 with Big Ideas
Like the hero in their anime movie Demon Slayer, Sony has blown away investors with their latest (and probably last) revision to their fiscal year net profit estimate. Announced on Wednesday, the company now says that it forecasts that it will set a new all-time record net profit for the fiscal year that ends in March. The major reason? A shift in focus away from hardware to services and content revenues and profits.
See more on this latest report from Sony…[Read more…] about Sony’s Strategic Shift From Hardware to Services Pays Off; It Now Projects Record Profits
Moody’s Investors Service is one of the world’s largest credit rating services that offers ratings used by many investors who target debt investing, such as buying corporate bonds or equity investors. Moody’s rating can literally impact – positively or negatively – the interest or coupon rate companies offer their debt at – and therefore can be critical. Recently, Moody’s published a credit rating decision on Wirepath LLC – the company behind SnapAV.
How did Moody’s rate SnapAV? Read on…
See Moody’s opinion on how SnapAV is doing…[Read more…] about How is SnapAV Doing? Moody’s Gives Us a Glimpse
A global supply chain shortage of key semiconductors has hit automakers around the world hard, like the automatic braking solution on self-driving cars. The shortage is so severe that auto makers are literally being forced to close factories for weeks as they wait for their supply of chips. As the industry is trying to rebound from a tough 2020, this situation has become so painful, some manufacturers are turning to politicians – asking them to pressure chip manufacturers to prioritize shipments to the auto industry.