Well, another CEDIA Expo is in the books and we return to our daily duties and launch into a new Fall season full of promise…and concerns. What were the big stories of this year’s edition of Emerald’s (a public, for-profit company that owns the show) CEDIA Expo? Well, I’ve scanned several summations from others in the media and it almost seems like we attended different Expos. Here’s what I think they are…
Search Results for: supply chain
After Time on Defense, Team Crestron Goes on Offense…and They are Fired Up
Earlier this week, I had a consequential visit with Crestron Electronics Corp. in which company executives talked about the overall business environment, supply chain issues, several new products, and their strategy going forward. It was quite revealing not only in content…but in tone.
It quickly became clear to me that after a period of playing defense, Crestron is going on offense…
See more on what I learned from my visit to Crestron
[Read more…] about After Time on Defense, Team Crestron Goes on Offense…and They are Fired UpA Reinvigorated Crestron Says, ‘Welcome Home’ With New Crestron HOME OS 4 Release
Crestron Electronics Corp. (Crestron), one of the largest and most popular custom integration control brands delivering literally thousands of products to both the commercial and residential smart home channels, announced today the launch of Crestron Home OS 4. This exciting new update brings much to the party, not only a more polished and graphically appealing look and feel but also a more intuitive end-user operability. Oh, and not to mention, some exciting new functionalities.
All of which, I got to see for myself in the company’s completely renovated residential-specific showroom. This company is on the move…
See more on Crestron Home OS 4 and my visit to the company…
[Read more…] about A Reinvigorated Crestron Says, ‘Welcome Home’ With New Crestron HOME OS 4 ReleaseSnap One Reports 2nd Quarter Fiscal ’23 Results; Net Sales Declined, Net Loss Reduced
Last week, Snap One Holdings Corp. (Nasdaq: SNPO) released its financial results for the second quarter of fiscal 2023, the 13-week period ending June 30, 2023. The company reported mixed results with a continuing sales decline but with a reduced net loss in the quarter.
See more on the SnapOne 2nd quarter fiscal ’23 report
[Read more…] about Snap One Reports 2nd Quarter Fiscal ’23 Results; Net Sales Declined, Net Loss ReducedMasimo CEO: ‘We are Disappointed with Our Results This Quarter’
Masimo Corporation (Nasdaq: MASI) (Masimo) announced the final financial results for the second quarter of fiscal 2023, the 90-day period that ended on July 1, 2023. About three weeks ago, the company released a preliminary report on the quarter, alerting investors to an unexpected drop in revenues. As they predicted, revenues did decline, although not as poorly as they suggested might be the case.
See the actual Masimo results for the second quarter of fiscal 2023
[Read more…] about Masimo CEO: ‘We are Disappointed with Our Results This Quarter’‘There is No Solace I Can Offer;’ VOXX CEO Announces 14% Cut in Jobs
In a letter to employees earlier this month, VOXX International Corp. (Nasdaq: VOXX) CEO Pat Lavelle painted a dark picture of the economic environment the company finds itself mired in, noting its significant sales declines and mounting losses. If you were a VOXX employee reading the opening phrases of this letter, I’m pretty certain a feeling of dread would sweep over you – sensing where this communication is heading.
And you would be right, as later in the correspondence, Lavelle reveals a plan to cut “more than 150 employees” along with a series of other steps to cut costs and lower overhead. And these cuts are on top of the job cuts the company has already implemented in 2022, as it tries again to right the ship.
See more on VOXX management’s missive to employees
[Read more…] about ‘There is No Solace I Can Offer;’ VOXX CEO Announces 14% Cut in JobsVoxx Intl 1st Qtr Fiscal ’24 Results Hit Hard; Premium Audio Sales Drop -32%
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%.
Learn more about Voxx Intl’s rough first quarter of fiscal 2024
[Read more…] about Voxx Intl 1st Qtr Fiscal ’24 Results Hit Hard; Premium Audio Sales Drop -32%Ex-Samsung Exec Indicted for Industrial Espionage in International Incident
A former high-level Samsung Electronics executive was indicted on Monday for industrial espionage as it is alleged that he stole trade secrets in the form of blueprints and designs for an advanced Samsung chipmaking factory in order to create an identical one in China. South Korean prosecutors say the executive’s actions jeopardized national economic security, according to a report by the Reuters News Agency.
See more on this surprising Samsung news
[Read more…] about Ex-Samsung Exec Indicted for Industrial Espionage in International IncidentVOXX SHOXX Market with Double-Digit Percentage Sales Declines & Deepening Losses
VOXX Stock Value Drops Nearly 30%
Yet more evidence of an industrywide downturn emerges, this time from VOXX International’s Fiscal 2023 fourth quarter and full-year results. After claiming that “…we had a lot of positive developments and continued to win new business and expand globally,” Voxx President Pat Lavelle went on to blame “inflation,” “fears of recession,” “the retail environment,” and “supply chain constraints,” for creating “roadblocks” to the company’s performance this year. Roadblocks, indeed…
Learn more on VOXX’s results in Fiscal 2023
[Read more…] about VOXX SHOXX Market with Double-Digit Percentage Sales Declines & Deepening LossesPremium Audio Company Elevates Rob Standley and Lowers Prices
A couple of interesting announcements this week from Premium Audio Company (PAC), the Voxx Int’l subsidiary that markets the company’s premier audio brands such as Klipsch, Onkyo, Integra, Jamo, Pioneer, Elite, and more. First up, Rob Standley gets a big promotion to President of Technology and Product, a big step up. Second, and I would say counter-intuitively, the company says it’s lowering prices on many of its “most popular and best-selling audio solutions.”