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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.

See more on the Sonos Fiscal 2023 Q4 and Full Year results

[Read more…] about Sonos Q4 & Full Year 2023 Results Show Post-COVID Drop in Demand

WiSA Edges Closer to the Abyss; Auditors Note ‘Substantial Doubt’; New Nasdaq Delisting Notice

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Retail Investor: ‘My Investment in this Company is Now Basically Worthless’

WiSA Technologies, Inc. (NASDAQ: WISA) released its fiscal 2022 fourth quarter and full-year results and it was not a pretty picture – leading the company’s auditors to issue a “going concern” warning, questioning its ability to continue. A developer and licensor of spatial, wireless sound technology used in a variety of brands, WiSA largely blamed an overall slackening consumer demand causing a glut of existing CE product inventory as the main source of its problems.

See more on WiSA’s results for its last fiscal year

[Read more…] about WiSA Edges Closer to the Abyss; Auditors Note ‘Substantial Doubt’; New Nasdaq Delisting Notice

Snap One Reports Mixed Results for Fiscal ’22 Q4 & Full Year; Forecasts 2023 Resi Decline

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Cover page of Snap One presentation to financial analysts

Red Flags: Residential Market is ‘Softening’; Consumers are ‘Cautious’; Channel Inventory ‘Destocking’

Snap One Holdings Corp. (NASDAQ: SNPO) released their fiscal 2022 fourth quarter and full-year results after the close of the market on Tuesday and held a conference call for investment analysts shortly afterward with more details. The company produced a prodigious amount of data that they suggest shows success in the face of adversity, and forecast a decline in their performance in fiscal 2023.

They also said the industry slowed down in 2022 and will continue to be slow for the first three quarters of 2023.

See more on the latest Snap One earnings report and forecast

[Read more…] about Snap One Reports Mixed Results for Fiscal ’22 Q4 & Full Year; Forecasts 2023 Resi Decline

Masimo Hails ‘Momentous Year’ in Fiscal ’22 with Revenue Gains From Sound United Acquisition

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Image from Masimo quarterly earnings presentation

But Was It Truly a Momentous Year?

On Tuesday, Masimo Corporation (Masimo) (NASDAQ: MASI) announced the results for its fiscal 2022 fourth quarter and full-year periods. Calling 2022 a “momentous year” for the company, management noted strong revenue growth – mostly from its acquisition of Sound United – as well as several adjusted figures exceeding forecast.

Learn more about Masimo’s results and see what they said about Denon and Marantz performance…

[Read more…] about Masimo Hails ‘Momentous Year’ in Fiscal ’22 with Revenue Gains From Sound United Acquisition

Snap One Fiscal 1st Qtr Results Show Good Revenue Growth, But a Net Loss

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Snap One cover photo

At the end of last week, Snap One Holdings Corp. released the results of their fiscal 2022 first quarter, a period which ended April 1, 2022, with comparisons to the same quarter last year, which ended on March 26, 2021. The company showed good revenue growth in the quarter but is still dealing with a net loss – albeit less of one than in 2021.

See the details on the Snap One fiscal Q1 results

[Read more…] about Snap One Fiscal 1st Qtr Results Show Good Revenue Growth, But a Net Loss

Best Buy Warns Profits Will Be ‘Significantly Below’ Last Year, Cuts Senior Managers

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BREAKING NEWS…

Best Buy LogoAfter the close of the market today, Best Buy warned Wall Street that its third quarter earnings and same-store sales will be significantly below the same quarter last year. The company also announced that head of U.S. business Mike Vitelli, and other executives, will leave the company at the end of this fiscal year in early February.

But the warning to Wall Street went even further… [Read more…] about Best Buy Warns Profits Will Be ‘Significantly Below’ Last Year, Cuts Senior Managers

S&P Cuts Sony’s Credit Rating to Just Above Junk, Issues Negative Outlook

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SonyAtCES2-8-12<February 8, 2012> Credit rating agency Standard & Poor’s today cut the long-term debt rating on Sony Corporation to BBB+, just two notches above “junk” status, and further issued a negative outlook which suggests a potential further drop in the future. In a statement, S&P said that “the likelihood of a strong recovery in Sony’s earnings is low.” [Read more…] about S&P Cuts Sony’s Credit Rating to Just Above Junk, Issues Negative Outlook