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ListenUp President Appointed to the Colorado State Electrical Board

February 20, 2025 by Ted Leave a Comment

ListenUp President Benjamin Larkin

Hey Colorado integrators, you’ve got a guy on the inside now! Benjamin Larkin, President of renowned Denver AV retail and custom integration company ListenUp, has been appointed to the Colorado State Electrical Board. Appointed by Colorado Governor Jared Polis, Larkin brings an integrator’s perspective into a government regulatory body.

Read more on Larkin’s appointment to the Colorado State Electrical Board

[Read more…] about ListenUp President Appointed to the Colorado State Electrical Board

Filed Under: Gov't/Politics, Integrators, News, People Tagged With: ListenUp, regulations

Latest Sonos Earnings Report Shows Just How Bad Things Are

February 20, 2025 by Ted 2 Comments

Sonos graphic for Q1 Fiscal 2025 results
Is that a disaster movie they’re watching?

Sonos announced the financial results for its first quarter of Fiscal 2025, the 90-day period that ended on December 28, 2024. It was sobering news – Revenues declined over 10%, Operating Income collapsed almost 40%(!), and Net Income slid 38%. These poor results show that Sonos is starting out 2025, not as bad as 2024…it’s starting out worse.

Yet some outlets on Wall Street reported Sonos results were “better than expected.” With these numbers, how is that possible? Read on…

Learn all about the Sonos financial results in the first quarter of Fiscal 2025

[Read more…] about Latest Sonos Earnings Report Shows Just How Bad Things Are

Filed Under: Feature, Financial, Management, Manufacturers, News Tagged With: Patrick Spence, Saori Casey, Sonos, Tom Conrad

Another Round of Sonos Layoffs at a Critical Moment; 12% of Staff is Cut

February 18, 2025 by Ted Leave a Comment

Consumer using Sonos products

Sonos has announced that it is launching yet another reorganization (it had one in 2024, and another one before that in 2023) with a “reduction in force” this time impacting 12% of its entire workforce. It seems remarkable that at a time when it continues to struggle to extricate itself from the La Brea tar pits it fell into via 2024’s app disaster, one of its first solutions is to let people go. More than 1 out of every 10 employees has been terminated to “…improve the Company’s operating model and cost structure to set the Company up for long-term success.”

See more on the Sonos layoffs

[Read more…] about Another Round of Sonos Layoffs at a Critical Moment; 12% of Staff is Cut

Filed Under: Financial, Management, Manufacturers, News, Strategy Tagged With: layoffs, Sonos, Tom Conrad

Another Sign of Rising Consumer Pessimism – the U of M Index of Consumer Sentiment

February 13, 2025 by Ted Leave a Comment

Another sign of a deteriorating consumer outlook arrived last Friday in the form of the Index of Consumer Sentiment (ICS), another highly respected data resource from the University of Michigan that is widely followed by economists, financial analysts, Wall Street, the Federal Reserve Board, government officials, the media, and more. Widely viewed as a reliable indicator of how consumers are feeling about their current circumstances, as well as their outlook for the future, and their expectations for inflation – it is a leading indicator of future economic direction.

The preliminary result of the ICS for February registered a significant drop in consumer sentiment. What is spooking consumers?

See more on the February Index of Consumer Sentiment decline…

[Read more…] about Another Sign of Rising Consumer Pessimism – the U of M Index of Consumer Sentiment

Filed Under: Consumer Trends, Economic Trends, News Tagged With: Index of Consumer Sentiment, inflation, Joanne Hsu, University of Michigan

Sonance Names Tyler Kungl as VP of Luxury Residential Sales

February 12, 2025 by Ted Leave a Comment

Tyler Kungl, New Sonance VP of Luxury Residential Sales

Sonance announced on Wednesday that it has named Tyler Kungl as Vice President of Luxury Residential Sales. Another in a series of recent hires, Sonance looks to be on the move, strategically increasing market presence and dealer support for various markets, both domestic and international.

Learn more on this Sonance appointment of Tyler Kungl

[Read more…] about Sonance Names Tyler Kungl as VP of Luxury Residential Sales

Filed Under: Management, Manufacturers, News, People, Sales Tagged With: Jason Sloan, Sonance

Voxx Total Company Value Falls Below Book; Takes Big Write-Downs to Over-Valued Assets

February 12, 2025 by Ted 2 Comments

Voxx investor relations page. Company is being acuired by Gentex Corp.

In New SEC Filing, Company Reveals Onkyo, Rosen, and VSM No Longer Have Any Goodwill

Voxx International Corporation (Nasdaq: VOXX) has released its Form 10-Q report to the Securities and Exchange Commission (SEC) revealing its financial results for its third quarter – the 90-day period ending on November 30, 2024 – as well as the year-to-date nine-month period ended the same date for Fiscal 2025. It is a sobering report of a company struggling to get to the altar with Gentex while its financial foundation is increasingly shaking.

The surprising results answer some questions, yet raise others as revenues continue to decline and losses mount.

Learn more about Voxx’s current financial situation…

[Read more…] about Voxx Total Company Value Falls Below Book; Takes Big Write-Downs to Over-Valued Assets

Filed Under: Feature, Financial, News Tagged With: acquisition, Gentex, Integra, Klipsch, Onkyo, Steve Downing, Voxx International

ProSource Drops Premium Audio Company from Assortment

February 6, 2025 by Ted Leave a Comment

ProSource experience center

BREAKING NEWS

On Wednesday, ProSource CEO Jim Pearse notified members of one of the industry’s largest dealer buying groups that Premium Audio Company – a subsidiary of Voxx International Corporation that oversees its audio brands Onkyo, Integra, and Klipsch – is being dropped from its assortment. This is big news and comes at a difficult time for Voxx which is in deep due diligence for its acquisition by Gentex Corp.

See more on ProSource dropping Premium Audio Company

[Read more…] about ProSource Drops Premium Audio Company from Assortment

Filed Under: Buying Groups, Feature, News, Strategy Tagged With: Integra, Klipsch, Onkyo, Premium Audio Company, ProSource

Gentex – Soon to be Owner of Voxx, Onkyo & Klipsch – Reports 4Q & Full Year Results

February 5, 2025 by Ted 1 Comment

Gentex CES booth
Gentex at CES

Gentex Corporation (Nasdaq: GNTX) announced its financial results for the fourth quarter (4Q) and full year (FY) of Fiscal 2024. The results spooked investors as the company appeared to be cruising to a solid, probably single-digit growth year through the first three quarters. In fact, the company was predicting a year of record net sales through the first nine months of 2024. Then…the fourth quarter happened…

Analysts on an earnings call had a lot of questions about management’s guidance miss, the reasons for the performance decline at the end of the year, and what the company plans to do with Voxx when the deal finally closes.

See more on the Gentex results for 2024 and what happened in the 4Q…

[Read more…] about Gentex – Soon to be Owner of Voxx, Onkyo & Klipsch – Reports 4Q & Full Year Results

Filed Under: Feature, Financial, News, Strategy Tagged With: Gentex, quarterly earnings, Steve Downing

Highly Esteemed PR Executive Peter Hoagland Dies

February 3, 2025 by Ted 2 Comments

Peter Hoagland at a past show
[Photo: Courtesy of Secrets of Home Theater & HiFi]

I’m sorry to report that highly esteemed marketing and PR executive Peter Hoagland has died. The cause of his death was Glioblastoma (cancer of the brain), an illness he fought since his retirement four years ago. Hoagland’s 40+ year career in consumer electronics – where he helped an almost uncountable number of brands achieve greater success – has resulted in his influence reaching far and wide throughout our industry. Many industry folks know Peter and know him well, as evidenced by the many tributes to him popping up all over social media.

Learn more about the life of Peter Hoagland

[Read more…] about Highly Esteemed PR Executive Peter Hoagland Dies

Filed Under: News, People Tagged With: obituary, Peter Hoagland

NASDAQ Warns VOXX It’s Out of Compliance with Listing Rules

February 3, 2025 by Ted Leave a Comment

Image of Nasdaq tower

Voxx International Corporation (Nasdaq: VOXX) revealed on Friday that it has received an official notification from the Nasdaq Stock Market LLC (Nasdaq) informing the company that the fact it has failed to timely file its Quarterly Report on Form 10-Q for the period ending November 30, 2024 means that it is out of compliance with Nasdaq Listing Rule 5250(c)(1). The company said it had received Nasdaq’s official compliance notice on January 28, 2025.

See what the Nasdaq warning means for Voxx…

[Read more…] about NASDAQ Warns VOXX It’s Out of Compliance with Listing Rules

Filed Under: Feature, Financial, Management, Manufacturers, News Tagged With: stock market

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Ted Green Bio

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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