Nortek’s AVC Sales, Operating Loss Up In Q3 [TWICE]

Loss attributed to technology shifts, inefficiencies in combining businesses.
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Sales rose in Nortek’s AVC segment (audio, video and control solutions) in the third quarter by 1.5 percent to $47.6 million, but the segment’s operating loss almost tripled to $6.3 million compared with a year-ago loss of $2.2 million.

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For the nine-month period, sales were off 9.9 percent to $120.5 million, and operating losses more than doubled to $19.1 million compared with the year-ago $8.3 million operating loss.

The AVC segment mainly consists of residential audio/video equipment (including architectural speakers and power conditioners) and home-control equipment, but it also includes professional video signal-management solutions. Brands include Elan, Niles, SpeakerCraft, Proficient, and Xantech. 

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