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%.
Manufacturers
Peter Wellikoff Appointed Managing Director at Atlantic Technology
Well-known and respected industry executive Peter Wellikoff has been appointed to the newly created position of Managing Director at Atlantic Technology. Wellikoff’s appointment was effective as of July 1st.
See more on this new role for Peter Wellikoff
[Read more…] about Peter Wellikoff Appointed Managing Director at Atlantic TechnologyNew Parasound CEO Believes They Can Do More With Less
A Strata-gee Exclusive Interview with CEO David Sheriff
In a Teams interview with new Parasound owner and CEO David Sheriff, with VP of Sales and Marketing Larry Bennett joining in occasionally, I learned more about the company’s seemingly dramatic new direction. This new direction is defined not so much by a changed product strategy, but rather by revisions the company plans to make in policies, programs, and dealer structure that looks to redefine its approach to the market.
See what the leaders of Parasound told me
[Read more…] about New Parasound CEO Believes They Can Do More With LessMasimo Consumer Partners with Oasys Residential Technology Group
Masimo Consumer, part of Masimo Corp (Nasdaq: MASI), announced today that it has formed a partnership with Oasys Residential Technology Group, a buying group of residential technology integrators that is part of the Nationwide Marketing Group. Formerly known as HTSN, the rebranded and rechartered Oasys Residential Technology Group recently held its inaugural launch event in May in Nashville with Strata-gee in attendance.
Learn more about Masimo Consumer at Oasys
[Read more…] about Masimo Consumer Partners with Oasys Residential Technology GroupB&W Announces Two New ‘Signature’ Models in Its Vaunted 800 Series Line
Can your very best products get even better? Bowers & Wilkins (B&W), part of Masimo Consumer Audio (formerly Sound United), have shown consistently over the years that by applying technological refinements and special custom finishes, their models carrying the “Signature” designation deliver both performance upgrades and dramatically unique visual design. Signature models exist in a few B&W series, but it is especially noteworthy when the designation is applied to their vaunted 800 Series – as the company just announced today.
See more on new B&W 800 Series Signature models
[Read more…] about B&W Announces Two New ‘Signature’ Models in Its Vaunted 800 Series LineMasimo Shareholders Elect Politan Nominees to Board; Sound United Future is Cloudy
Masimo Corp. [NASDAQ: MASI] shareholders voted to elect two new independent board candidates nominated by activist investor Politan Capital Management, including Politan’s Chief Investment Officer Quentin Koffey, as reported by Reuters. The election took place on Monday, June 26th at the annual stockholder’s meeting, and it was announced late in the day that the Politan candidates prevailed.
The news is a shocking repudiation of the existing Masimo Board and CEO Joe Kiani – and it puts Sound United’s future with the company in serious doubt.
Learn more about Masimo stockholders voting with Politan
[Read more…] about Masimo Shareholders Elect Politan Nominees to Board; Sound United Future is CloudyAudio Research Corp Begins Its Next Chapter as AR Tube Audio Corporation
The Minnesota District Court for the Fourth Judicial District in the County of Hennepin held a hearing on Tuesday to determine the final disposition of the insolvent Audio Research Corporation which is operating under Assignment for the Benefit of Creditors (ABC) – a form of receivership. The assignee in this case, Patrick Finn of Lighthouse Management Group had executed an Asset Purchase Agreement (APA) with Acora Acoustics and was seeking an order from the judge to approve the APA and the transfer of the assets free and clear of any and all liens to Acora Acoustics.
See more on this end of one era of Audio Research…and the beginning of the next
[Read more…] about Audio Research Corp Begins Its Next Chapter as AR Tube Audio CorporationBig AI Backer Google Quietly Warns Its Staff About Chatbots, Even Bard
Are Your Employees Opening Your Company Up to Liability?
Alphabet, Inc. (Google) seems to find itself caught up in an unusual paradox. On the one hand, it is outwardly and aggressively marketing Bard, its own generative AI chatbot – while on the other hand, it is inwardly…but quietly…warning its own employees about the dangers of AI chatbots. This is according to a report by Reuters based on independent information from four different sources, each in a position to know.
See more on Google’s AI chatbot paradox
[Read more…] about Big AI Backer Google Quietly Warns Its Staff About Chatbots, Even BardLikely New Owner of Audio Research Corp Says Company to Stay in Minn
The day after the Strata-gee story titled, Audio Research Corp is Sold; Or Is It? ran last month, I received an unexpected call from Valerio Cora, CEO of Acora Acoustics, the winning bidder and the likely new owner of Audio Research Corp (Audio Research or ARC). Cora was concerned that Strata-gee’s coverage of Audio Research’s issues had raised some questions – even going so far as to suggest that he felt my coverage was scaring people. He wanted to set the record straight on what is going on with Audio Research.
Learn more of what the Acora Acoustics CEO had to say
[Read more…] about Likely New Owner of Audio Research Corp Says Company to Stay in MinnSonos Cuts Headcount 7%, Looking to Cut Real Estate & Programs
Is Sonos Exploding?
In a filing with the Securities and Exchange Commission (SEC) on Tuesday, Sonos, Inc. [NASDAQ: SONO] said it will institute a “reduction in force” or headcount reduction of approximately 7% of their employees. While the decision to cut jobs is designed to reduce labor expenses, the execution of the plan is estimated to cost the company somewhere between $11 million to $14 million.