YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
SLS signed a master vendor agreement with Best Buy Co. Inc. to distribute its Q-Line Gold Home Theater Surround Sound System, co-developed with Grammy-winner Quincy Jones. The debut of the product in stores will coincide with its appearance on the finale of the NBC reality show “The Apprentice,” to be aired in May.
“Best Buy’s position as the dominant retailer in the consumer electronics industry is the ideal channel for us to promote the SLS brand and the new Q-Line Gold Home Theater System to the broadest consumer market possible,” said Chairman and CEO John Gott in a news release.
The Q-Line Gold system features four bookshelf satellite speakers and one center channel speaker, all utilizing planar ribbon drivers and woven Kevlar midrange drivers. A high-excursion, self-powered subwoofer controls bass to meet low frequency requirements.
The system’s Dolby Digital/DTS receiver features a built-in room-balancing algorithm, component video throughput with video up-scaling, on-screen display and a universal remote control. A DVD player with MP3 support also is included.
The planned selling price at Best Buy is $799.
The same day the Best Buy deal was announced, SLS International was recognized at Springfield Business Journal’s Dynamic Dozen event as the fifth-fastest-growing company in the area, with 189 percent growth and $4.3 million revenue in 2005.
With the Best Buy deal and others, including a vendor agreement with Wal-Mart and an American Stock Exchange listing (AMEX: SLS), SLS officials say the company is poised to turn its $8.6 million operating loss in 2004 into gains by 2007.
Meanwhile, the release of 2005 fourth-quarter and year-end financial results in its Form 10-K will be delayed, as the company filed for a 15-day extension on March 14. The company stated in a news release that the additional time is necessary in order to comply with the Sarbanes-Oxley Act of 2002, specifically to complete the audit of its consolidated financial statements.
A conference call was rescheduled to April 3.
SLS shares closed March 15 at $1.16, compared to a 52-week range of 97 cents to $3.04.[[In-content Ad]]
April 7 was the official opening day for Mexican-Italian fusion restaurant Show Me Chuy after a soft launch that started March 31; marketing agency AdZen debuted; and the Almighty Sando Shop opened a brick-and-mortar space.