Wall Street Reacts to Negative Nortek Q3 Numbers; AVC Sales Drop 36.8%

Company Blames Declines on ‘Negative Impact’ of United Technologies Unsuccessful Acquisition Bid Nortek, Inc. stock dropped more than 9.3% in early afternoon trading Wednesday in the wake of a report released by the company after the close of business Tuesday … Continue reading

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 … Continue reading

Nortek Reports Uneven Q1 Results, But TECH Actually Contributes This Time

Nortek, Inc. reported their financial results from the first quarter of fiscal 2013 late last week. The results were mixed as the company deals with a struggling economy and a difficult internal restructuring that is impacting costs now, with any … Continue reading

Nortek’s TECH Segment’s Troubled Transformation

In a recent fiscal year 2012 fourth quarter and full-year report, Nortek, Inc. showed a mixture of hit-and-miss results with fourth quarter sales dropping 5.6% to $505.4 million as compared to Q4 2011’s $535.2 million. Worse yet, the company’s Q4 … Continue reading