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Sonos Q4 & Full Year 2023 Results Show Post-COVID Drop in Demand

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Sonos Q4 and Fiscal 2023 earnings

Fiscal 2023 Total Sales Drop 6%…Installer Sales Decline 7%

After the close of markets on Wednesday, Sonos released its Fiscal 2023 fourth quarter (Q4) and full-year results. As one of the industry’s top consumer brands, Sonos’ latest quarterly and full-year earnings put the post-COVID strain in full display as the company was hit with both sales and profit declines even though it took aggressive steps to adjust to an adverse consumer market.

The company says loyal customers are its greatest buffer against macroeconomic headwinds, but those headwinds were particularly daunting in 2023.

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Snap One Fiscal ’23 Q3 Shows Recurring Story of Sales Decline & Losses Improve

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Snap One earnings report cover

Company Still Pitches ‘Destocking’ & ‘Descoping’

Last week, Snap One Holdings Corporation (Nasdaq: SNPO) reported its Fiscal 2023 third-quarter results, and it seemed to me like we’ve seen this movie before. In a nutshell, the company’s net sales declined and its net losses decreased. These are virtually the same trends we saw last quarter (Q2) and even the quarter before that. In fact, the company first talked about elements of these trends in the fourth quarter of 2022.

Learn more about the Snap One fiscal ’23 Q3 results

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Masimo Says Fiscal ’23 Q3 Results Hit By Tough Post-COVID Trends & Slack Consumer Demand

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Masimo cover page of its Fiscal 2023 Q3 earnings report

Double-Digit Percentage Declines in Revenues & Profits

Without a doubt, Fiscal 2023 has been a challenging year for Masimo in many ways. And this week, as the company reported its results for the third quarter (Q3) that ended on September 30, 2023, that reality couldn’t be any clearer. With revenues down 13% and net income down more than 72%, about all the company could say is – wait until next year…it is going to be great.

Learn more about the Masimo fiscal ’23 Q3 earnings report

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Emerald Reports Fiscal ’23 Q3 Revenues are Up $10M; Profits are Down $82.3M

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Emerald quarterly report cover

Content Biz Declines; Company Announces Restructuring of Content Unit

Noting solid gains in their trade show segment, Emerald Holding, Inc. (NYSE: EEX) management proclaimed satisfaction with their fiscal 2023 third-quarter results. However, while the tradeshow business – the segment containing its CEDIA Expo show – saw a post-COVID increase in attendance and revenues, all was not rosy, as the company reported a dramatic drop in profits. Not only that but continued trouble in its content business – the segment with its CE Pro and Commercial Integrator (and other media brands) properties – saw revenues decline and even forced the company to revise its overall annual financial guidance downward.

See more on CEDIA Expo- and CEPro-owner Emerald Holding’s results

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Feds Indict Former Noel Lee Associate Fred Khalilian in Murder-for-Hire Plot

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Photo with Noel Lee and Fred Khalilian
Noel Lee (center) and Fred Khalilian (right) in online gambling partnership

The Former Monster Products Executive Continues to be Held on Witness Tampering

A former associate of Head Monster Noel Lee (and Paris Hilton) remains in jail in Los Angeles after a judge dismissed a murder-for-hire case against him over technical questions of venue. Prosecutors accused Fereidoun “Prince Fred” or “Fred” Khalilian of paying his bodyguard to kill a documentary filmmaker who was ostensibly working on a movie exposing Khalilian’s alleged life of fraud.

See more on Khalilian’s colorful life

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Gregg Chopper Joins Audio Advice as Chief Operating Officer

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Photo of Gregg Chopper, new Audio Advice COO

Audio Advice, a leading retailer and e-commerce provider of high-performance home theater and smart home systems, announced on Tuesday that it has appointed Gregg Chopper as its new Chief Operating Officer. With extensive experience in high-end audio as well as North American and International operations and logistics, the company says that Chopper is the perfect addition to its management team as the company continues its rapid expansion.

Learn more about Gregg Chopper at Audio Advice

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In Huge Win for Masimo, ITC Bans Certain Apple Watch Imports for Trade Law Violations

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Masimo Freedom Watch

Masimo Corporation (NASDAQ: MASI) scored a big win Thursday in its ongoing battles with Apple, Inc. when the United States International Trade Commission (USITC or ITC) sided largely with Masimo and issued a Limited Exclusion Order and a Cease and Desist Order against certain Apple Watch models that infringe on select Masimo patents. This exclusion order bans the import of those models that incorporate Masimo’s patented light-based pulse oximetry technology in violation of U.S. trade laws.

See more on Masimo’s stunning ITC victory over Apple

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MQA Limited No Longer Exists; Say Hello to Wave Realisations Limited

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MQA Limited has changed its name as this certificate notes

MQA Limited has notified Companies House, the U.K. government agency that is roughly equivalent to our Securities and Exchange Commission, that it has changed its name. After nine years as MQA Limited, the company will now be known as Wave Realisations Limited.

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Snap One Lawsuit: AVA & Josh.ai File Responses; The Dance Marathon Begins

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The Snap One lawsuit will be long, like a dance marathon

After receiving an extension from the court giving them more time to respond, AVA, Inc. and Josh.ai, Inc. formally filed their responses to the Snap One, LLC lawsuit filed against them this past summer. With these filings, we have completed the end of the beginning of what will undoubtedly be a long dance marathon of patent and trade secret litigation.

See more on the AVA and Josh.ai responses to allegations from Snap One

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In Sales Team Expansion, RTI Appoints a Sales Manager for Central U.S. States

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New RTI regional sales manager for the Central U.S. Brittany Delgado

RTI, a leading control and home automation manufacturer, announced on Thursday that it has expanded its sales team. The company announced the appointment of Brittany Delgado as regional sales manager.

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