LOUD Technologies Files Application For NASDAQ Capital Market Listing
January 31, 2006 – Woodinville, Wash. - LOUD Technologies Inc. (LOUD) (OTCBB:LTEC) announced today that is has filed an application to list its common stock on the NASDAQ Capital Market. The Company is working diligently with NASDAQ to complete the application process.
"LOUD has long been recognized as a leader and innovator in the professional audio and music industries. Now, with our application for listing on the NASDAQ Capital Market, we are working to enhance LOUD's visibility in the financial community as well," said Chairman and CEO Jamie Engen.
"LOUD's management team is dedicated, energized, and focused on implementing a strategy designed to increase revenue, improve margins, and build value for our shareholders," Engen continued. "With advances in technology and improving price/performance driving demand for pro audio products around the world, LOUD has an exciting long-term growth opportunity."
The CEO continued, "Our relationships with proven contract manufacturers in China have helped us to reduce manufacturing costs and eliminate redundant, high-cost capacity in the United States, while continuing to deliver high quality, state-of-the-art products to our customers. Last year's acquisition of St. Louis Music expanded LOUD's revenue base and added important new brands to our product family. We are continuing to strengthen our distribution organization to take advantage of our expanding product line-up, which we see as key to achieving our goal of increased operating margins. We believe that the combination of lower costs, more brands, and expanded distribution will allow us to deliver revenue growth and improved bottom-line performance in the years ahead."
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
Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors such as: market acceptance of new products; continued acceptance of existing products; delays in product development and related product release schedules; product price discounts; reliance on third party manufacturers and reliance on sole or limited source suppliers for key components that could result in component shortages and delays in product delivery, any of which may cause revenues and income to fall short of anticipated levels; obsolete inventory or product returns by distributors, resellers and retailers; warranty and other claims on products; changes or delays in product shipments; technological shifts; the availability of competitive products at lower prices; the continued ability to protect the company's intellectual property rights; changes in product mix; maturing product life cycles; product sale terms and conditions; the financial condition of our customers and vendors; adverse results in litigation; the effects of terrorist activity and armed conflict such as disruptions in general economic activity and changes in our operations and security arrangements; continued softness in retail spending or other changes in general economic conditions that affect demand for our products; currency fluctuations; and vigorous competition. For further information regarding risks and uncertainties associated with LOUD's business, please refer to the "Management's Discussion and Analysis of Results of Operations and Financial Condition" section of LOUD's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting LOUD's investor relations department at 1-866-858-LTEC (5832) or 425-892-6500, or on LOUD's website at www.loudtechinc.com/invest/index.html.
Mackie, EAW, and EAW Commercial are registered trademarks of LOUD Technologies Inc. in the United States and other countries. All other trademarks are the property of their respective owners.
For more information please contact: LOUD Technologies Inc. – 16220 Wood-Red Road N.E. – Woodinville, WA 98072 – Phone: (425) 487-4333 – Fax: (425) 487-4337 – Internet: www.loudtechinc.com |
