News

Snap One Sees Q3 Revenues Increase Thanks to Price Increase & More Dealers

November 11, 2021 by Ted Leave a Comment

But a 57% Increase in SG&A Expenses Swung the Quarter to a Net Loss

Snap One Holdings Corp. (NASDAQ: SNPO) announced the results for its fiscal 2021 third quarter last week and said that thanks in part to an August 2021 price increase and continued expansion of its dealer base, the company booked a substantial revenue increase to $260.7 million, or 15% higher than the same quarter the year before. However, the company additionally reported a net loss of -$21.5 million, way below the net income of $1.4 million in the quarter last year, due to a significant increase in SG&A expenses.

See more on the Snap One 3rd quarter results

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Snap One Continues Local In-Market Expansion; Adds New Florida ‘Store’

November 4, 2021 by Ted Leave a Comment

Snap One announced this week that it has opened another “Partner Store” – a locally based warehouse location – that carries its products as well as other brands and offers support and training for area integrators. This new location opened in Hollywood, Florida, and – interestingly – is being operated by their Allnet branch.

See more on the continued expansion of Snap One

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CEDIA Appoints New Head of Education & Training

November 3, 2021 by Ted Leave a Comment

Photo of CEDIA HQ — CEDIA’s new headquarters building in Fishers, Indiana

Custom Electronic Design & Installation Association (CEDIA) announced today that it has appointed Amanda Beckner as its new Vice President of Education and Training. Beckner replaces the recently departed Samantha Ventura and is said to bring two decades of experience to the role. Most notably, Beckner was VP of Learning for AVIXA, the commercial integrator trade group.

Learn more about Amanda Beckner at CEDIA

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Emerald Says Fiscal ’21 Q3 Revenues Up & Losses Down as Live Shows Restart

November 3, 2021 by Ted 1 Comment

But Were Things as Rosy as Its Report Suggests?

Emerald Holding, Inc. [NYSE:EEX] (Emerald), formerly Emerald Expositions and owner of the CEDIA Expo and CE Pro, announced this week that, thanks to the restart of live events in the third quarter of fiscal 2021, they were able to see a substantial reduction in their net losses on a significant revenue gain as compared to the same quarter in 2020 – the year of COVID shutdowns. While the company is still battling its event cancellation insurance providers in a California court for reimbursement for past canceled and impacted events, they say that they see the road to recovery ahead.

See more on the Q3 announcements from Emerald

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First-Ever ‘Inside Sound United’ Virtual Event is Next Week; Register Today

November 2, 2021 by Ted Leave a Comment

Major industry player Sound United is on the cusp of launching its first-ever virtual event called, appropriately enough, “Inside Sound United” (ISU). Coming November 9-12, 2021 to a computer near you, this highly immersive 4-day virtual event will be chock full of useful content and allow integrators to experience a side of the company not usually seen.

See more on ‘Inside Sound United’ virtual 4-day event

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Query: Where is Innovation Happening in America? Hint: Not in the Heartland

October 28, 2021 by Ted 1 Comment

Identifying America’s Most Entrepreneurial States

In new research from a think tank based in Bentonville, AR called Heartland Forward, we learn that innovation in the U.S. is largely happening on the east and west coasts of the country – not in America’s heartland where entrepreneurship is lagging. And that they hope to change by influencing state policymakers to go on the offensive to launch new entrepreneurial initiatives.

See more on where Innovation is happening in America

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CEDIA 2019 IRS Filing Reveals a $3.7M Deficit; Org Dubs It a Transitional Year

October 28, 2021 by Ted Leave a Comment

*A past CEDIA Expo, now owned by Emerald Expositions*

CEDIA recently filed their Form 990 with the IRS – a required filing by non-profits disclosing key financial data – and for the first time in a while, I found some interesting and somewhat confusing things in there. Yes, I obtain the organization’s 990 filings every year just to get a sense of how things are going. Like all of us, the organization is filing for, at best, the previous year and often they request and receive an extension. Hence, we are just now getting a glimpse of their 2019 results…and it was an eye-opener.

See what the CEDIA interim co-CEOs told me about 2019

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Majority of All Companies Raised Wages in Q3; Will Do It Again This Quarter

October 26, 2021 by Ted Leave a Comment

In a survey by the National Association of Business Economists, a strong majority of all businesses – fully 58% – reported that they raised the wages they paid to employees in the third quarter, as reported by AXIOS. Nearly the same number say they will raise wages yet again in the coming months. While the news has some positive elements, especially for workers (like the smiling employees above), it definitely has some economists worried.

See more on rising employee wages

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New Vanco Introduction Powers Up Your Assortment, Client Satisfaction & Profits

October 26, 2021 by Ted Leave a Comment

I recently became aware of the fact that Vanco, the Chicago-based manufacturer of a broad range of mostly accessory products had decided to become a master distributor for a product category that we all need, we all use, and yet to which we pay little attention. It is in this reality, Vanco’s President Mark Corbin tells me, that there lies a tremendous opportunity to better serve our customers and to add meaningful profit to our financials.

See this Vanco solution…

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UEI Earns Wide National News Coverage for All the Wrong Reasons

October 21, 2021 by Ted 2 Comments

Allegations of Conspiring With China’s Gov’t to Use Uyghurs in a Forced Labor Arrangement

In a rare show of bipartisanship, a group of U.S. Senators has sent a strongly worded letter to a leading consumer electronics industry remote control maker Universal Electronics, Inc. (UEI) launching a probe into the company’s hiring practices in China. Unique to UEI is that they own their own factories in China (most contract with existing China OEM factories) and a recent damning investigation by Reuters alleges the company is working with the Chinese government to utilize a widely persecuted Uyghur minority in a forced labor arrangement, a human rights violation. UEI has denied the accusation but so far has not provided data to back up their denial.

See more on the UEI labor situation in China

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News

Snap One Sees Q3 Revenues Increase Thanks to Price Increase & More Dealers

But a 57% Increase in SG&A Expenses Swung the Quarter to a Net Loss

See more on the Snap One 3rd quarter results

Snap One Continues Local In-Market Expansion; Adds New Florida ‘Store’

See more on the continued expansion of Snap One