ProSource, a national retailer buying group, will add SVS subwoofers to its product line-up, the company announced on Tuesday. According to a published statement, “SVS is being tapped to energize subwoofer sales for independent retailers…”
News
Needing Cash, Sharp Will Sell Land Under Major Factory
Sharp Corp. is said to be in the process of selling the land under one of its major factories in Osaka, Japan, in a bid to raise cash. The transaction, reported by the Nikkei, is said to be happening as early as the current fiscal year.
But that’s not all the company is selling… [Read more…] about Needing Cash, Sharp Will Sell Land Under Major Factory
Azione Unlimited Collides with Kaleidescape
Azione Unlimited, the retail buying group, announced this week that they have added Kaleidescape to their roster of vendors supporting the organization. According to their vendor listing on the groups website, this now brings their roster to 40 vendors with direct relationships, as well as more available through distributor partnerships.
See more on this new development… [Read more…] about Azione Unlimited Collides with Kaleidescape
Builders Group Holds Mid-Year Construction Forecast Meeting; Economists Cautiously Optimistic
The Associated Builders and Contractors, Inc., (ABC) a builders trade association, held their third annual Mid-Year Construction Forecast presentation this week…inviting economists from three industry-related associations to present their outlook on the construction industry. This year, the invited economists included Kermit Baker (American Institute of Architects, AIA), David Crowe (National Association of Home Builders, NAHB), and their own Anirban Basu (ABC).
The economists this year were, overall, cautiously optimistic – with a heavy emphasis on caution.
See more on the presentations from the construction industry economists… [Read more…] about Builders Group Holds Mid-Year Construction Forecast Meeting; Economists Cautiously Optimistic
Dazed and Confused About Hi-Res Audio? Here’s Help…
GUEST POST
(PHOTO: Len Schneider)
Quick: What’s the most misused term in audio next to “subwoofer”?
You, yeah, you in the back there – did you say “hi-res”?
No more calls, folks, we have a winner!
[Read more…] about Dazed and Confused About Hi-Res Audio? Here’s Help…
Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out
Sean Burke, Head of Technology Solutions Group is Leaving Company
Nortek Inc. released yesterday the financial results for their fiscal second quarter and first half showing a solid overall sales gain of 13.9% to $718.6 million, up from $630.7 million in the same quarter last year. Sales increased at a more moderate pace for the first half, coming in at $1.266 billion or 10.1% higher than the $1.149 booked last year.
But in a bit of a surprise, the company chose to break out the results of their AV division separately – clearly exposing what many had suspected for a couple of years now – this division is in serious trouble. Even more surprising, in a filing with the SEC, the company revealed that Sean Burke, Group President of the Technology Solutions Group is leaving the company “to pursue other interests.”
See more on just what Nortek’s latest financial results show… [Read more…] about Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out
Ingram Micro Set Q2 Sales Record, But Net Profits Get Slammed by Reorganization Costs
Ingram Micro, Inc. reported the results for their fiscal second quarter and first half last week and the report was generally positive. The company noted that worldwide revenues in the quarter increased $600 million or 6% to a new Q2 record of $10.9 billion which they attributed to, among other things, “new mobility wins, robust networking sales and solid systems revenue in North America…strengthening retail and consumer markets in Europe; and better demand in Latin America.”
Ingram Micro’s press released barely mentioned that net income dropped during the quarter. But a closer look at its SEC filing showed a meaningful drop in net income of 27.4% for the quarter and 36.8% for the half.
If things are going so well, why the drop in net profits at Ingram Micro?… [Read more…] about Ingram Micro Set Q2 Sales Record, But Net Profits Get Slammed by Reorganization Costs
Thiel’s New CEO Says Company ‘Struck a Chord’ Compelling Him to Join
In a telephone interview today, new Thiel Audio CEO John Wittman told us that the company “struck a chord with me personally,” virtually compelling him to take over as CEO after the owners’ invited him to look at the company last winter. Over the course of an interview that went on for more than a hour, Wittman candidly shared his thoughts and perspectives in an enthusiastic and – to the degree he felt appropriate – open manner.
See what Wittman had to say about where Thiel is at…and where it’s going… [Read more…] about Thiel’s New CEO Says Company ‘Struck a Chord’ Compelling Him to Join
Good News: Sharp is Forecast to Lose 2 Billion Yen in Fiscal 1st Quarter
Report Says Sharp Plans to Withdraw from Consumer Electronics & Solar Businesses in Europe
In a new report out of Japan, the Nikkei is forecasting that Sharp Corp. will book a net loss of around ¥2 billion ($19.6 million) for their fiscal first quarter (April – June) this year. The report further says that the company plans to exit both the consumer electronics and solar panel businesses in Europe in order to refocus their efforts on other markets.
Why is a ¥2 billion loss good news? See more below… [Read more…] about Good News: Sharp is Forecast to Lose 2 Billion Yen in Fiscal 1st Quarter
New York Metro Rep Audio Associates Adds Key Lines & Appoints New Sales Manager
Major New York Metro & Mid-Atlantic sales representative company Audio Associates has been selected by both Bay Audio and Wilson Electronics to represent their brands. In addition to this, Audio Associates separately announced that it has promoted long-time salesman George Christianis to the position of Sales Manager for the company.
