Loud Technologies loses $2.7M in latest quarter
Puget Sound Business Journal (Seattle) - 2:18 PM PDT Tuesday, August 14, 2007
Loud Technologies Inc. reported it lost $2.7 million in the latest quarter, which compares with net income of $300,000 a year earlier. Revenues fell to $50.6 million from $53.5 million in 2006.
The Woodinville audio and music company (NASDAQ: LTEC) owns brands such as Mackie and EAW. "We have experienced general softening in the demand for most of our product lines over the last 12 months. These trends are reflective of challenges facing our major customers and the industry as a whole," company officials said in a 10-Q filing with the Securities and Exchange Commission.