Announcement from Boston Acoustics, Inc.Business Editors PEABODY, Mass.--(BUSINESS WIRE)--Jan. 10, 2003 Boston Acoustics Founded in 1979, Boston Acoustics is a high end manufacturer of home and mobile audio equipment operated out of Peabody, Massachusetts. Boston produces speakers for the home and cars. , Inc. (NASDAQ-BOSA) today announced that one of its retail dealers which accounts for less than 10 percent of the Company's consolidated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight has notified the Company they will no longer carry the Company's Home line of loudspeaker loudspeaker or speaker, device used to convert electrical energy into sound. It consists essentially of a thin flexible sheet called a diaphragm that is made to vibrate by an electric signal from an amplifier. products. CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Moses Gabbay, stated "Although we are disappointed by this development, we remain confident that our remaining distribution network is strong." Boston Acoustics, Inc. provides audio solutions for home entertainment, automobiles and personal computers. Founded in 1979, Boston Acoustics is located in Peabody, Massachusetts Peabody (pronunciation IPA: /ˈpiːbədi/) is a city in Essex County, Massachusetts, United States. As of the 2000 census, the population was 48,129. Peabody is located on the North Shore. . Certain statements in this press release contain certain forward-looking statements concerning Boston Acoustics' operations, economic performance and financial condition. Such forward-looking statements are based on a number of assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Boston Acoustics to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause such differences include, but are not limited to, those discussed in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended March 30, 2002. The words "believe," "expect," "anticipate," "intend," and "plan" and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. |
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