by The Editors on July 7, 2011
Since originally filing their S-1 with the Securities Exchange Commission on January 28, 2011 Skullycandy has gone through a few changes. First, founder and CEO Rick Alden resigned, then the company filed a series of amendments to their original filing. Yesterday, (July 6, 2011) they filed their fourth amendment the S-1, according to a post on Jeff Harbaugh’s Market Watch.
It appears they postponed it due a rough patch in the market. Smart. . . They list the maximum offering price as $19 a share. They are registering 9,583,334 shares and if they sell all of those, the offering will raise a bit over $182 million. But that includes the underwriters optional over allotment of 1,250,000 shares and is before expenses.
For the rest of Harbaugh’s analysis click the link.
[Link: Market Watch]
by The Editors on June 28, 2011
After a flurry of pro sports team headphones that we were not into, it’s good to see Skullcandy coming correct with the Limited Edition Hesh Independent. These over-ear headphones feature a 55 mm speaker, enhanced parabolic sound, soft leather-touch ear pillows and a braided nylon 1.2 meter cable, a gold plated 3.5mm plug, and Independent logos all over the place. It’s almost like stickerring your own headphones. The only difference–these cost $54.99.
[Link: Skullcandy]
by The Editors on June 2, 2011
Nixon has teamed up with the Beastie Boys for a new limited edition line of Swatches watches with some of the proceeds going to benefit WKCR-FM, Columbia University’s non-commercial student-run radio station.
Four watches were created for the collection and are available in red, white, green and blue. The watches come in a maritime themed package, which is unlike anything the Nixon line has ever seen before, and feature an image of Mike D along with a special message from him on both the watchband and case. As lifelong lovers of everything skate, snow and surf, not to mention style icons in their own right, it is fitting for Nixon to have MCA, Ad Rock and Mike D create a unique interpretation of Nixon’s Time Teller watch. Due to the limited nature of this collection, once these watches are sold out, they are gone forever.
Beastie Boys, nautical flavor, and a cause all mixed into one? Now that’s marketing. Follow the jump for more watchy details. [click to continue…]
by The Editors on June 1, 2011
Beginning tomorrow (June 2, 2011) the Frends ™ are getting together for their 2nd Annual Frendly Gathering, a three-day camping, snowboarding, and music festival at Crowley Lake Campgrounds, on the Eastern slope of the Sierra Nevada Range. According to reports there will be a “corn-hole tournament,” swimming, jamming, snowboarding and whatnot.
Mammoth Mountain will be hosting the giant slalom, presented by Amp & Mountain Dew and old school highway halfpipe competitions, sponsored by Burton, at Chair 4 on Friday and Saturday. On Sunday a skate jam will be held at the Brothers Skatepark. Prizes will be awarded to who ever we feel like giving awards to. . . Thursday and Friday night music will be brought to you by DJ Modsun, DJ Pat Brown and B-Rolla and a live musical performance by the one and only Led Zepplica (the sickest Zepplin cover band), presented by Nike will be held Saturday night at Crowley Lake Campground.
Obviously, with sponsors like Mammoth Mountain, Nike, Dragon, Burton, Nixon, Billabong, and Mountain Dew, it’s not exactly a low-down roots event, but hey, it sounds like fun and the kids have to get paid right? Follow the jump for more info. [click to continue…]
by The Editors on May 27, 2011
After a disgruntled eBay reseller began posting negative reviews on Skullcandy’s eBay store, the Park City, Utah based personal electronics company said enough and is now reportedly suing the guy, according to a story in the Salt Lake City Tribune.
The suit, filed in U.S. District Court in Salt Lake City on Wednesday, alleges Nathan Rees of Orem trashed Skullcandy on the company’s eBay Web page after eBay shut down his own auctions of their products earlier this year. . . “He signed up as several different people so he could leave negative feedback under different names,” said Matthew Barlow, attorney for Skullcandy. “Skullcandy has collected the evidence necessary proving it was him leaving the negative comments.”
Which reminds us: lawsuits are just corporate America’s way of resolving issues.
[Link: Salt Lake City Tribune]
by The Editors on May 25, 2011
The ultimate skate shoe history book, Made For Skate, is now an iPad app. For those who’ve never seen the book, or worn out the print version, this app comes as a welcome e-relief. It is absolutely FREE. If we had an iPad we’d download it right now. Guess we’ll have to wait until we’re at Grandma’s house.
[Link: Made For Skate via N-SB.org]
by The Editors on May 5, 2011
Market Watch’s Jeff Harbaugh was wondering what happened to the Skullcandy IPO and did some nosing around. He discovered that on April 30, 2011 Skullcandy filed a revised form S-1 with the SEC. In his latest column he looks into exactly what changed and what it might mean to the company and it’s potential public offering. He says:
Skullcandy is counting on the success of its IPO to reduce its leverage and give it the working capital it needs to execute on its plan. Shareholders and executives have taken a bunch of cash out of the company in the fourth quarter, resulting in a big loss. They were entitled to do that under existing agreements, but how does it look to a potential stock purchaser? Those potential investors also see a company whose 2008 net income of $13 million fell to $3.5 million in 2009 even as sales grew 47% to $118 million. Now, on sales of $160 million, there’s a loss of almost $10 million.
For Harbaugh’s conclusions (and some interesting reading), click the link.
[Link: Market Watch]
by The Editors on May 4, 2011
Skullcandy is expanding its reach in the headphone space by picking up the San Francisco-based video gaming electronics company Astro Gaming for $10.8 million, according to a story in the Wall Street Journal.
Some will remember that in addition to the companies listed below, one of Astro’s other investors is Nixon co-founder Chad DiNenna.
Astro Gaming was backed by investors including Triangle Peak Partners LP and Fayez Sarofim & Co. . . Skullcandy also disclosed in the new filing that it generated a net loss of $9.7 million last year, compared with a $13.5 million profit the year prior. Though its revenue rose 35.7% to $160.6 million thanks to increased sales to large national retailers, a one-time charge for management incentive bonuses took out a $17.5 million chunk of its profit.
Good thing Skullcandy is going public. Looks like that money is going to come in pretty handy.
[Link: Wall Street Journal]
by The Editors on March 30, 2011
GoPro, the compact, HD video camera company that has completely changed the look of action sports footage, has reportedly purchased Solana Beach, California video compression technology company CineForm.
“We’re extremely excited to welcome the CineForm team to GoPro,” exclaims Nicholas Woodman, GoPro’s founder and CEO. “CineForm is an industry leader in video codec technology and is famous in professional circles for their HD and 3D content creation tools. As GoPro is focused on making it easy for consumers to capture professional quality content, we’re eager to incorporate CineForm’s technology and passion into future GoPro products.”
How Woodman took GoPro from a company that marketed crappy, waterproof, plastic, disposable film cameras on a Velcro wrist strap to a brand delivering ubiquitous micro HD video camera companies is worth a book in and off itself. Now, it appears that he’s kicking the whole thing up another notch by owning the compression technology. Smart moves from GoPro. [click to continue…]
by The Editors on March 24, 2011
On Wednesday March 23, 2011 Rick Alden announced that he was stepping down from his position as CEO of Skullcandy, the company he founded, and handing the position over to Skullcandy President Jeremy Andrus.
It is not known whether Alden, who was named 2009 Entrepreneur of The Year by Entrepreneur magazine, will remain in an active role at the company moving forward, according to sources.
[Update March 28, 2011: Rick Alden has officially “resigned” from the company but will remain on the board. Ouch! And right before the IPO. Someone obviously isn’t happy. Follow the jump for the official press release.] [click to continue…]
Since originally filing their S-1 with the Securities Exchange Commission on January 28, 2011 Skullycandy has gone through a few changes. First, founder and CEO Rick Alden resigned, then the company filed a series of amendments to their original filing. Yesterday, (July 6, 2011) they filed their fourth amendment the S-1, according to a post on Jeff Harbaugh’s Market Watch.
