LOUD Technologies (CE) (USOTC:LTEC)
Historical Stock Chart
From Jun 2019 to Jun 2024
LOUD Technologies Inc. (LOUD) (OTCBB:LTEC) announced
today that has implemented a new direct distribution system in North
America that it estimates will reduce selling costs by about $1
million in 2006 and by at least $2 million annually beginning in 2007.
"We want LOUD to be easy to do business with, and we are confident
that the changes we are making to our domestic distribution system
will enable us to improve service for all of our customers at the same
time that they sharply reduce costs," said Chairman and CEO Jamie
Engen. "Our sales in Canada have increased since we migrated to direct
sales there several months ago, and we expect to see similar results
in the United States."
LOUD has created a sales team focused exclusively on its largest
customer, Guitar Center; a second team that will concentrate only on
other national chains and large internet retailers; a third targeted
at regional customers; and a fourth to service retailers of
professional recording equipment. "LOUD's existing network of
independent sales representatives will continue to sell our products
to professional sound reinforcement retailers and permanent
installation contractors, a high-growth market where we believe our
reps are well-equipped to continue delivering strong results," Engen
said.
LOUD has established an office at its headquarters in Woodinville,
Washington to provide overall corporate support for the direct sales
organization, supplementing the trained technical and sales support
personnel attached to each dedicated sales team. The Company also is
assembling a corporate-level staff of Product Specialists located
throughout the country to ensure that everyone in the distribution
chain is equipped with the best sales tools in the industry. In
addition, LOUD is developing a web-based system to facilitate on-line
ordering.
"Our new approach is an important step toward building the
high-performance organization we are striving for, and delivering the
revenue and earnings growth that will build long-term value for our
shareholders," Engen concluded.
About LOUD Technologies Inc.
LOUD Technologies Inc. (www.loudtechinc.com) is one of the world's
largest manufacturers and distributors of professional audio and music
products. As the corporate parent for world-recognized brands
including Alvarez, Ampeg, Crate, EAW, Knilling, Mackie, SIA and TAPCO,
LOUD Technologies produces and distributes a wide range of digital
recording products, loudspeakers, commercial audio systems, audio and
music software, guitars, guitar and bass amplifiers, and orchestral
string instruments. LOUD Technologies' brands can be found in
professional and project recording studios, video and broadcast
suites, post-production facilities, sound reinforcement applications
including churches and nightclubs, and retail locations and on major
musical tours.
Forward Looking Statements
Certain statements contained in this release are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. The words -- "believe," "expect," "anticipate,"
"intend," "will" and similar expressions are examples of words that
identify forward-looking statements. These forward-looking statements
are based on current expectations and assumptions based on information
currently available to us. These forward-looking statements may be
affected by the risks and uncertainties associated with our business
and are qualified in their entirety by the cautionary statements and
risk factor disclosure contained in our filings with the Securities
and Exchange Commission, including our annual report on Form 10-K for
the year ended December 31, 2004. We do not assume, and expressly
disclaim, any obligation to update these forward-looking statements to
conform them to actual results or changes in the Company's
expectations.