SEC Filings Reveal Serious Decline in 2013 Sales of A/V Lines
Nortek, Inc., a Rhode Island-based diversified manufacturer of a variety of environmental and technology products for home and business, announced its financial performance for the fiscal fourth quarter and year ended December 31, 2013 on Tuesday and conducted a conference call with analysts Wednesday morning. Nortek is the parent company of Core Brands, a group of eleven A/V brands that have a significant impact on the custom integration business – and, for this reason, we follow them closely.
The company saw sales increases for both the quarter and the year; however, it booked a net loss for both periods, suggesting that its previously announced restructuring plan is still a work-in-progress.
See more on the company’s overall performance, as well as the unsettling news we heard about the TECH division, which includes Core Brands…
[Read more…] about Nortek Reports Uneven Fiscal Results; With A/V Biz in Decline, Security is TECH Segment’s Rising Star