Post by aswiss on Nov 28, 2024 14:22:30 GMT -5
Note that the highlighted emphasis of the “discontinued operation” statement was done by me…it was not in the original text. I did that to emphasize that it appeared that a change in the status of the division may be impending, and I didn’t want the reader to miss it.
However, some readers and other media have misinterpreted the statement to suggest that perhaps Masimo was intending to literally shut down the division. This speculation has run wild and I have responded to several industry folks who have reached out to ask me about it.
Masimo CFO Was NOT Referring to Shuttering Sound United’s Operations
Some kind of business closure or shuttering is NOT what Micah Young was suggesting. Changing the classification of Sound United to a “discontinued operation” is a financial maneuver that affects how its financial performance will be properly reported in the future in accordance with appropriate SEC rules. It does not mean that operations are ceasing.
In response to the rampant speculation, the company provided a statement, attributed to Masimo’s Consumer Division Chief Operating Officer.
Only a Financial Reporting Standards Change
Calm down, everyone… A clear-eyed view of Micah Young’s statement suggests folks don’t need to be overly concerned about a change in financial reporting standards as a result of this “discontinued operation” classification change. Yes, many (like me) are concerned to see where Sound United will end up, but for now, they assure me they continue to operate with full vigor daily while the Board sorts out its longer-term future.
Yep - read that too on a German Site.
Anyway, not my brands.
But Hey - soon is dec 1st - news should drop in.
