|Recoton Sells NHT Loudspeakers To Rockford|
|Home Theater News Industry-Trade News|
|Written by Scott Selter|
|Monday, 30 December 2002|
Recoton Sells NHT Loudspeakers To Rockford
With a 52 week high of over $15 per share and a current price of just over a $1.00 per share, AV giant Recoton has sold NHT (Now Hear This) to Phoenix based Rockford recently according to industry trade magazine Twice. This is likely a move by Recoton to become more nimble and to foster what has been a little recovery in its stock price. Their stock has been as low as $0.52 per share as recently as September 2002 which, if sustained, often means a dreaded delisting from the market it is traded on.
Rockford is best known for their high performance mobile products including speakers, amps and crossovers. NHT is a critically acclaimed brand of speakers that are known for a smooth sound (especially on the high frequencies) and beautiful cabinet work. NHT speakers have traditionally be priced directly above more mainstream brands like Bose, JBL and Cerwin-Vega and offer dealers a sell-up opportunity for their clients.
Source: Twice.com, Etrade.com