A couple of interesting announcements this week from Premium Audio Company (PAC), the Voxx Int’l subsidiary that markets the company’s premier audio brands such as Klipsch, Onkyo, Integra, Jamo, Pioneer, Elite, and more. First up, Rob Standley gets a big promotion to President of Technology and Product, a big step up. Second, and I would say counter-intuitively, the company says it’s lowering prices on many of its “most popular and best-selling audio solutions.”
Integra
Integra Adds DRX-8.4 Deeply Featured Flagship AVR to Its Integrator Lineup
Premium Audio Company, a VOXX company, announced this week the launch of an all-new, deeply featured Integra flagship audio/video receiver (AVR) to cap its remarkable DRX line first introduced in 2021. The new DRX-8.4 offers 11 channels of 150 watts of Integra symmetric class AB room-shaking power. This unit is stuffed with all of the latest technology offering integrators an unprecedented level of flexibility and system control.
Learn all about the new Integra DRX-8.4 AVR
[Read more…] about Integra Adds DRX-8.4 Deeply Featured Flagship AVR to Its Integrator LineupVoxx Int’l Fiscal 3rd Quarter Sales Drop 25.4%; Profits Up on Cost Cutting
CEO Says Onkyo AVRs Offered to Costco This Year
Citing the “current state of the global economies” and “ongoing supply chain issues” Voxx International (NASDAQ: VOXX) reported the results of their fiscal 2023, third quarter this week and it was a story of more of the same, perhaps intensifying, business challenges that they identified when the company announced its second-quarter results. All of its major business segments reported sales declines – dropping double-digit percentages – with overall sales dropping 25.4% year-over-year. But the company said profits increased on aggressive cost cutting.
Learn more about Voxx Int’l fiscal 2023 third quarter performance
[Read more…] about Voxx Int’l Fiscal 3rd Quarter Sales Drop 25.4%; Profits Up on Cost CuttingVOXX Intl, Owner of Onkyo & Others, Reports Fiscal ’23 Q2 Sales Decline, $11M Net Loss
VOXX International Corporation (NASDAQ: VOXX) announced its financial results for the second quarter of fiscal 2023 this week and they were quite sobering. Not only did revenues decline by double digits, but the company had a dramatic increase in net loss to nearly $11 million.
What went wrong?
See more on VOXX Intl’s fiscal Q2/2023 results
[Read more…] about VOXX Intl, Owner of Onkyo & Others, Reports Fiscal ’23 Q2 Sales Decline, $11M Net LossLayoffs Hit Premium Audio Company as It Right-Sizes Ops; To Skip CEDIA Expo
BREAKING NEWS
Premium Audio Company, a division of VOXX International and operator of brands such as Onkyo, Integra, Pioneer, and Elite, confirmed today that it has instituted a round of layoffs to “right-size” company operations based on current macroeconomic trends. The company has also confirmed that it has decided, for the second year in a row, not to participate in next week’s CEDIA Expo 2022, due to product roadmap cycles.
See more on these Premium Audio Company decisions
[Read more…] about Layoffs Hit Premium Audio Company as It Right-Sizes Ops; To Skip CEDIA ExpoOnkyo Bankruptcy – New Owner Premium Audio Company Addresses Latest News
On Monday, I received a note from Premium Audio Company regarding my post on the bankruptcy of Onkyo Home Entertainment Co. Ltd. In this note, the company sought to get the message across that the Onkyo bankruptcy has nothing to do with them and that the Onkyo brand lives on under the guidance of its new owner, Premium Audio Company, a subsidiary of VOXX International.
Read more on Premium Audio Company & Onkyo
[Read more…] about Onkyo Bankruptcy – New Owner Premium Audio Company Addresses Latest NewsVoxx Announces Final Deal to Acquire Onkyo, with a Twist
Voxx International has announced that they have finalized their agreement to partner with Sharp Corporation to acquire the Home Entertainment Division of Onkyo – news that Strata-gee readers knew about last week. The news comes as a result of Onkyo shareholders voting last Friday to approve the sale of the company to Voxx’s subsidiary known as the Premium Audio Company. Not much was new here on the Onkyo front, as we already told you about the deal only covering the Onkyo and Integra brands. However, we did learn some more interesting details on the company’s attempts relative to the Pioneer and Pioneer Elite brands.
See what’s happening with Voxx, Onkyo & Pioneer
[Read more…] about Voxx Announces Final Deal to Acquire Onkyo, with a TwistOnkyo Directors Vote to Authorize the Sale of the Company in $30.3M Deal
On Wednesday, at a specially convened meeting of the Board of Directors for Onkyo Home Entertainment Co. Ltd. (Onkyo), company directors formally voted to authorize the transfer of Onkyo’s home AV division to the partnership of VOXX, Intl. and Sharp Corporation, in a deal valued at $30.3 million. The transaction is pending shareholder approval. This development represents real progress on a deal that had appeared to be bogged down recently.
See more on this deal as it gets back on track
[Read more…] about Onkyo Directors Vote to Authorize the Sale of the Company in $30.3M DealBudding Onkyo & Voxx Romance Grows, Adds Teac & Esoteric to 11 Trading Company
This week we learned that 11 Trading Company…part of Premium Audio Company…which itself is part of Voxx International (love those big corporate structures), has added the only remaining Onkyo brands – Teac & Esoteric – to their distribution line list. They did not include these brands in the original announcement of their agreement with Onkyo, but most people expected it to be added in time. With this new development we get a nice progression of the budding relationship between the companies – Voxx distributing Onkyo, Integra, Pioneer, Pioneer Elite, Teac & Esoteric – while Onkyo Corp. becomes the Klipsch distributor in Japan. Where could this be heading?
See more on Onkyo & Voxx/11 Trading Company partnership…
[Read more…] about Budding Onkyo & Voxx Romance Grows, Adds Teac & Esoteric to 11 Trading CompanyMaking Space for Onkyo Brands, Voxx Announces Subsidiary Reorganization
Voxx Expects Big Growth; That May Be a Bigger Challenge Than Anticipated
As part of an internal restructuring to accommodate their recent acquisition of the distribution rights to certain Onkyo brands, Voxx International Corporation announced this week that it has renamed the existing Klipsch Holding LLC to the rather generically named Premium Audio Company LLC. This is just the first change, as I’ve learned more announcements are just around the corner.