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Nortek’s TECH Segment’s Troubled Transformation

March 22, 2013 by Ted Leave a Comment

Nortek LogoIn 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 net loss increased from last year’s $800,000 to a substantial $12.5 million. These results were in spite of the fact that this year’s calendar for the quarter had two more days in it than the quarter last year.

However, Nortek’s overall annual results showed a brighter picture with 2012 sales increasing to $2.2 billion, up 2.8% from the previous year’s $2.14 billion. Net profits in 2012 came in at $9.5 million – a substantial improvement over 2011’s net loss of $55.9 million.

But one other thing came through loud and clear…Nortek’s TECH segment remains troubled… [Read more…] about Nortek’s TECH Segment’s Troubled Transformation

Filed Under: Brands, General Topics, Industry Trends, Management, Manufacturers, Marketing, News, Pivot Point, Specialty, Strategy Tagged With: 2GIG Technologies, Almon Hall, Aton, BlueBOLT, Elan, FurmanOmniMount, Lilnear, Michael C. Clarke, Niles, Nortek, Panamax, Proficient, SpeakerCraft, Sunfire, Xantech

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A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

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