Strategy in TECH...
Just Video Walls™, a Fort Lauderdale, FL-based supplier of MicroLED video walls, is creating new processes that will accelerate the adoption of the technology by making it easier for integrators to design, install, and support the product. Sometimes, the best solution is simply a better process.
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.
Emerald Holding, Inc. (NYSE: EEX) (Emerald) owner of Emerald Expositions, a leading B2B exposition company, as well as the CEDIA Expo, CEPro, and Commercial Integrator media properties, announced its financial performance in the second quarter of fiscal 2023. While results were mixed with both increased revenues and increased losses, the company struck an optimistic tone, saying it is on track to generate $400 million in revenues and $100 million in “Adjusted” EBITDA (a measure of profits) in the current fiscal year.
There has been a flurry of activity in the Savant ecosphere lately, much of it causing a buzz in the industry. Over the last few weeks, I’ve had several integrators reaching out to let me know about some of these changes. Not all felt they were positive and many questioned the motivations behind the moves. Accordingly, I reached out to Savant to see if I could get some insight into just what is going on. The company responded by making President JC Murphy available to update me on a few of their recent moves.
Nice North America, part of the globally significant Nice S.p.A. of Italy, announced this week that it has implemented what it calls pivotal changes within its North American operations (U.S. and Canada) that it believes will “further boost growth and innovation.” It is the first major structural change here in the U.S. since Italy’s Nice acquired Nortek Security and Control from Melrose PLC back in October 2021.
This morning, AVPro Global Holdings, Inc., a maker of a wide variety of audio/video gear and services, announced it has acquired the residential division of AudioControl from AAMP Global. Like King Solomon, the move “splits the baby” in half along its logical business lines with AVPro Global taking over AudioControl’s residential division, while AAMP Global retains its mobile electronics business.
Nationwide Marketing Group (NMG) announced today that it has reestablished its home entertainment program with LG Electronics USA. As a result of this reconnection, NMG’s membership, including independent retailers and custom integrators, have access to a wide range of LG’s TV, audio and video products.
A key metric of the U.S. economy is consumer confidence – a reading of how confident consumers feel about the economy, both currently and in the near future. A confident consumer helps stimulate the economy by freely spending their money, as compared to an unconfident or insecure consumer who will instead pull back on spending to hold on to their money. Now, three major surveys that offer key readings on consumer sentiment in July show big gains in confidence – a bullish sign for the economy.
Ignoring the Masimo noise swirling around them, portfolio brand Denon launches two new audio video receivers (AVRs) with impressive technology targeted for small-to-midsize spaces, such as dens, family rooms, home offices, and the like. With support for 8K video and 3D audio, these new models offer an unusual blend of performance and features at a moderate price making them perfect for alternative smaller format spaces needing a more modest cinema implementation.
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.
