January slump has many of region’s stocks near 52-week lows
The stock market downturn that brought the Nasdaq close to correction territory has taken its toll on tri-county companies, with more than a dozen trading at or close to a 52-week low at the close of trading on Jan. 19. Among larger cap stocks of companies headquartered in the tri-county region, Olaplex, based in Montecito, Read More →
Sonos wins ruling that Google violated its patents
The U.S. International Trade Commission ruled in favor of Santa Barbara-based Sonos once again on Jan. 6, with a finding that Google infringed on five Sonos patents relating to smart speakers and audio. The ITC reaffirmed its decision from August, stating that Google violated section 337 of the Tariff Act of 1930 by infringing on Read More →
Sonos reports loss for quarter but record annual revenue
Santa Barbara home audio company Sonos beat analysts’ expectations with its fourth-quarter earnings and also delivered record revenues for its 2021 fiscal year, but supply chain issues could spoil the first half of 2022, the company said. Sonos reported a net loss of $8.7 million in the quarter ended Sept. 30, according to results released Read More →
Sonos wins patent dispute with Google
A judge from the U.S. International Trade Commission ruled in favor of Santa Barbara based Sonos on Aug. 13, finding that Alphabet Inc’s Google infringed upon five of Sonos’ patents for wireless speakers and related technology. Judge Charles E. Bullock did not give a reason for the decision but the ruling did find that Google Read More →
Sonos delivers surprise profit, raises revenue guidance
Sonos delivered a loud earnings beat after the markets closed Aug. 11, as the Santa Barbara-based home sound system producer delivered net income back in the black when the company announced its third quarter 2021 earnings. Sonos generated net income of $17.6 million, or 12 cents per diluted share, for the quarter ended June 30. Read More →
Sonos shares up after strong earnings report
Sonos saw a record second quarter as it reported $17.2 million in net income on May 12, up from a steep loss the year before, and beat analysts’ expectations. The Santa Barbara-based home sound system producer went from a net loss of $52.3 million, or 48 cents per share, in the second fiscal quarter of Read More →
Small speaker is a big move for Sonos
The newest speaker from Sonos, Roam, made its debut April 20 and has the potential to help the Santa Barbara smart-speaker company grow in 2021 and beyond. Roam is Sonos’ first attempt into breaking into the portable Bluetooth speaker market, a market that is expected to see an annual growth rate of 11.71% from 2019 Read More →
