Like the hero in their anime movie Demon Slayer, Sony has blown away investors with their latest (and probably last) revision to their fiscal year net profit estimate. Announced on Wednesday, the company now says that it forecasts that it will set a new all-time record net profit for the fiscal year that ends in March. The major reason? A shift in focus away from hardware to services and content revenues and profits.
Financial
How is SnapAV Doing? Moody’s Gives Us a Glimpse
Moody’s Investors Service is one of the world’s largest credit rating services that offers ratings used by many investors who target debt investing, such as buying corporate bonds or equity investors. Moody’s rating can literally impact – positively or negatively – the interest or coupon rate companies offer their debt at – and therefore can be critical. Recently, Moody’s published a credit rating decision on Wirepath LLC – the company behind SnapAV.
How did Moody’s rate SnapAV? Read on…
See Moody’s opinion on how SnapAV is doing…
[Read more…] about How is SnapAV Doing? Moody’s Gives Us a GlimpseFlorida Rep Firm LK & Assocs. Acquires L.P. Hench
Ft. Lauderdale, FL-based manufacturers representative firm LK & Associates has acquired another Florida rep firm, L.P. Hench in a deal announced Tuesday. This acquisition represents a line and talent expansion for LK & Associates as it continues to enjoy strong growth.
See more on this acquisition deal in Florida…
[Read more…] about Florida Rep Firm LK & Assocs. Acquires L.P. HenchStrata-gee’s Top Ten Most Read Stories of 2020
With 2020 rapidly disappearing into our rearview mirror, it’s always good to take a moment during the holidays and reflect on the year that just transpired. A year is a long time and a lot happens.
Also, as a content creator it is good to look back at those stories that seemed to resonate with most readers as I seek to constantly refine my editorial targets to better match the interests of readers. One way I do that is to put together an end of year list of the Top Ten Most Read Stories. Let’s look at those together – were these your favorites as well?
See 2020’s Top Ten Most Read Strata-gee Stories…
[Read more…] about Strata-gee’s Top Ten Most Read Stories of 2020Judge Approves Reorg Plan by AVDG Parent Guitar Center
Company to Exit Bankruptcy Soon
The judge hearing the matter of the bankruptcy filing of Guitar Center, Inc., parent company of custom integration company Audio Visual Design Group (AVDG), has accepted the organization’s plan to reorganize operations in order to emerge from bankruptcy. With this move by the court, the stage has been set for Guitar Center to exit from bankruptcy proceedings soon, perhaps any day now.
See what the court’s action means for Guitar Center & AVDG…
[Read more…] about Judge Approves Reorg Plan by AVDG Parent Guitar CenterSonos Scores Another Patent Win, Legrand Signs Multi-Year Licensing Deal
In yet another sign of patent success for Sonos, major industry player Legrand has agreed to a multi-year licensing deal to cover the technology used in their Nuvo line of wireless multi-room products. This is yet another sign that tends to add to the growing power of the Sonos patent portfolio covering these technologies.
See more on this announcement of a deal with Legrand…
[Read more…] about Sonos Scores Another Patent Win, Legrand Signs Multi-Year Licensing DealSony to Close Major Malaysia Audio Factory; Begins Refocus Away from A/V
Closing a Separate Audio & TV Factory in Brazil as Well
Sony Corporation has two large factories in Malaysia – one manufacturing audio products, and the other manufacturing predominantly video products. A new report out of Japan indicates that the company plans to close its audio factory in Malaysia by no later than the beginning of 2022 – or in other words, during the upcoming year of 2021. This move is likely a result of a previously announced strategic refocusing on businesses other than a/v electronics at the major consumer electronics manufacturer.
See more on this expected/shocking move by Sony…
[Read more…] about Sony to Close Major Malaysia Audio Factory; Begins Refocus Away from A/VEVA Automation Escapes Forced Bankruptcy; But Shuts Down Anyway
EVA Admits ‘Financial Distress’ & A Business ‘Wind Down’
EVA Automation, the now former owner of Bowers & Wilkins (B&W) dodged a bullet when late last month U.S. Bankruptcy Judge, the Honorable Hannah L. Blumenstiel, entered an order dismissing the involuntary petition for Chapter 7 bankruptcy brought against them by Top Victory Investments Limited (whose attorneys use the acronym TPV). With that decision, a forced bankruptcy was avoided. However, as court records clearly demonstrate, the company did feel some pain as a result of this filing, and according to their attorneys were in the process of conducting an orderly shut down of the business.
Not only that, but we learn much more about EVA Automation‘s relationship with Bowers & Wilkins – and their degraded circumstances based largely on the failure of their Formation wireless speaker line marketed under the B&W brand.
Learn more about EVA Automation’s situation…
[Read more…] about EVA Automation Escapes Forced Bankruptcy; But Shuts Down AnywayGuitar Center, Owner of AVDG, Files for Bankruptcy
In an unusual Saturday night filing, Guitar Center, Inc., parent company to AV integration company Audio Visual Design Group (AVDG), filed for bankruptcy protection. The move was widely expected by many industry watchers for years, and caps a difficult business history for Guitar Center, starting back in 2007 when they were first acquired by Bain Capital.
See what we know so far about the Guitar Center and AVDG bankruptcy…
[Read more…] about Guitar Center, Owner of AVDG, Files for BankruptcySonos is Getting Hooked on D2C Biz; Revenues & Profits Exceed Expectations
But Is Everything Really as Good as It Looks?
Sonos, Inc. [NASDAQ: SONO] released their fourth quarter and full year financial results for fiscal 2020. Their performance pleasantly surprised Wall Street and their stock value exploded well over 20% in Thursday trading as the company exceeded analysts’ estimates for both revenue growth and profits. But is everything as it appears here?