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Masimo Releases 3Q/2024 Results, First Under New Management; Investors Like It

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Masimo cover page

Sound United to be ‘A Discontinued Operation’

On Tuesday, Masimo Corporation (Nasdaq: MASI) announced the results of its financial performance for the third quarter (3Q) of Fiscal 2024 (FY2024) – the first such report under the new management. While the report comes from the new management, including interim CEO Michelle Brennan, the period of this report is for the quarter that ended September 28, 2024 – meaning the bulk of the actual performance occurred under previous CEO Joe Kiani. Still, the numbers, for the most part, looked pretty good.

Learn all about the performance of Masimo in 3Q/2024

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A Giant Stumbles: Samsung Chip Div. Operating Profits Drop a Stunning 40%

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A flag showing the Samsung logo

Samsung Electronics, Inc. – a giant in the global consumer electronics industry – saw operating profits drop a stunning 40% in its all-important Device Solutions Division compared to the previous quarter. Device Solutions is its semiconductor division and many in the industry are watching this division closely, as it is a key part of Samsung’s business. But recently, the company – in a rare miss – failed to get on board with the rapid growth of the artificial intelligence (AI) industry early on. It is now running to catch up to competitors and this result shows they are not yet there.

See more on this rare stumble from industry giant Samsung

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Masimo Terminates Kiani’s Employment; Files Lawsuit Alleging He Violated Securities Law

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Header of Masimo lawsuit against Joe Kiani & RTW

In a recent filing with the Securities and Exchange Commission, the new Masimo (Nasdaq: MASI) Board of Directors reaffirmed its non-GAAP 3Q and full-year financial guidance as previously provided by the company to investors. It also notified the commission that the Board has officially terminated the employment of former CEO Joe Kiani.

Perhaps most surprisingly, it has additionally filed a major lawsuit against Joe Kiani and RTW Investments alleging, among other things, that they colluded to create a group that violated federal securities laws.

See more on this latest filing with the SEC by the new Masimo Board of Directors

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See Why Apple’s Patent Win is Actually a Victory for Masimo

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Masimo Freedom smartwatch

More patent decisions are being handed down as several long-running patent lawsuits between Masimo Corporation (Nasdaq: MASI) and Apple Incorporated (Nasdaq: AAPL) wrap up. Last week, a jury in the matter of Apple Inc. (Plaintiff) v. Masimo Corporation and Sound United LLC (Defendants) rendered a verdict on a case where Apple accused Masimo of infringing on six of its Apple Watch patents.

Technically, Apple got a win…but realistically, it was a huge victory for Masimo.

See the outcome of Apple v. Masimo in Delaware court

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More on Crestron’s New Experience Center; CEO Discusses CEC & Business

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Brad Hintze and the Crestron management team in the Event Space
[Click to enlarge]

As I reported last week, I attended the October 15, 2024, Grand Opening of the latest Crestron Experience Center (CEC), located in the prestigious New York Design Center in Manhattan. This CEC is remarkable in its own right, but as I reflected further on the Grand Opening I realized that the event itself was noteworthy. Not only did a top Crestron executive sit down with me to offer some interesting perspectives on the new CEC and business in general, but what I observed at that event itself was impressive as well.

So I have decided to augment my previous report with additional observations…and more photos.

See more on the Crestron Experience Center in NYC & find out what the CEO shared with me…

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Nationwide MG Appoints a New(ish) Executive Director for Azione Unlimited

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Azione Unlimited's new Executive Director Patrick McCarthy

Nationwide Marketing Group, owner of a stable of high-performance dealer buying groups like Oasys, Ellipsys, and Azione Unlimited, announced this week that it has appointed Patrick McCarthy as the new Executive Director of Azione Unlimited. As you most likely know, McCarthy has been a long-time member of the group’s management since 2019 and has served as the Interim Director since June in the wake of Richard Glikes departing the group back in February.

Patrick’s new appointment is effective immediately, which is a good thing as the group is about to launch its Fall Conference, taking place this year in San Diego, CA from October 21st – 23rd.

See more on the appointment of Patrick McCarthy at Azione Unlimited

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Crestron Opens Impressive NYC Experience Center Showcasing Resi & Commercial Tech

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Crestron executives John Clancy, Dan Feldstein, and Brad Hintze toast the new Experience Center in NYC
John Clancy, Dan Feldstein, and Brad Hintze (who appears to be toasting Strata-gee readers) raise a glass of champagne to toast the launch of Crestron’s remarkable Flagship NYC Experience Center [Click to enlarge]

Crestron Electronics, a worldwide industry leader in both the commercial and residential smart technology space, has opened a dramatic and dynamic new Crestron Experience Center (CEC) in the heart of Manhattan at 200 Lexington Avenue in the renowned New York Design Center. A grand opening ceremony was held with the media, customers, integrators and other special guests on Tuesday, October 15th, previewing the space which offers visitors an expansive roster of “hands-on” experiences and even includes a “workshop” for true first-person experiences where visitors can – among other things – discover new possibilities they didn’t know existed.

See more on this all-new flagship Crestron Experience Center in Manhattan

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AVPro Global Announces Appointments in MXnet Systems Group & Commercial

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AVPro Global logo

AVPro Global continues its rapid expansion with two major announcements this week, one in its MXnet Systems Group and another in Commercial Sales. Yet another sign of the company’s continued growth, AVPro Global continues to build out its infrastructure to better take advantage of market opportunities the company has identified.

The company has appointed Andy Herron and Deby Jimenez to its MXnet Systems Group and Jerrie Anderson to oversee the company’s commercial business development.

Learn more on these new additions at AVPro Global…

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Emerald Expo Releases Registration Data for CEDIA Expo & CIX 2024

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The Crestron booth at CEDIA Expo 2023 which is put on by Emerald Expo
CEDIA Expo 2023

Emerald Will No Longer Report Event Attendance Numbers

Once again, the industry gathered to celebrate the world of custom integration last month at the CEDIA Expo 2024 in Denver, Colorado. An annual event that is part business conference, part education/training confab, and part social get-together & party, many in the industry look forward to this one-time seminal event in anticipation of finding the seeds of future business growth in the innovation shown there.

This week, Emerald Expositions released the registration numbers for CEDIA Expo & Commercial Integrator Expo 2024 (CIX), but did not disclose the verified attendance number. At first, I thought this was an oversight…

See more on data from CEDIA Expo 2024…

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Split Decision: A Masimo Win and an Apple Win in High Stakes Legal War

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An annotated illustration from a 2005 smartwatch patent discovered by Masimo containing technology like an Apple patent in 2021
An annotated copy of an illustration from a 2005 patent for a smartwatch (Kotanagi) containing the same or substantially similar technology that Apple was granted a patent for in 2021

While many things have changed in the wake of Joe Kiani’s exit from Masimo Corporation (Nasdaq: MASI) – and many more changes are likely still to come – one thing continues on, the many lawsuits existing between Masimo and Apple Inc (Nasdaq: AAPL). And in the last few days, we have learned of two significant developments in that regard. One is a significant win for Masimo…and the other a significant win for Apple.

However, the war between these combatants continues…

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