Zeedje and Music Lover,
Thank you for the encouragement! :D My handicap on this forum is that I've so little to contribute to many of the discussions, having heard only the few Linn components I or my parents have actually owned. So it was nice to have a way to contribute a little to the community here. :D
ThomasOK, thanks for the explanation about the Unidisk 1.1 and Sony -- the Uni1.1 problems (or more accurately the past years' discussion of it on the Topica List) sounded very worrisome, and it's reassuring to know it mostly reflected troubles with a "Black Box" bought-in software package, as opposed to any slipping standards with Linn's R&D.
(And Linnofil -- I hope you someday get your DS!)
Have a good week, everyone!
-C
.
P.S. -- have you all noticed that the Majik-I is now described on the Linn website?
http://linn.co.uk/majik-i#
http://linn.co.uk/files/1d7a0e6a/Majik-I_S_10-07.pdf
If any of you have a chance to listen to the Majik-I, I'd love to hear your thoughts, particularly with respect to how it sounds compared to a [Majik Kontrol + Majik 2100] combo (or how good the preamp section is compared to that of a UniSC). If this new Integrated sounds as nice as the Majik Kontrol+2100 pairing, then that'll be very exciting for us Passionate-Would-Be-Entry-Level-Folks-Who-Keep-the-Used-Prices-Nice-and-High!
Linn is downsizing!
Moderator: Staff
"The Herald" (UK) business article on Linn financi
Hi Folks,
If anyone's interested in Linn's financials, there's an article in the Nov.17 2007 online edition of The Herald that discusses Linn's 1.09 million (pound sterling) loss in the fiscal year ending October 2006 (i.e., Oct 2005 to Oct 2006). (Basically, the article suggests Ivor's return is none too soon!)
The link to the article is here:
http://www.theherald.co.uk/business/new ... 90.0.0.php
As I'm not sure how long the above link will stay active, I'll copy the text below (with full credit given to The Herald and to the article's writer, Business Editor Ian McConnell). One thing, however: the article clearly states at the bottom that "reproduction" is "prohibited". Knowing nothing about internet copyright law, I'm guessing that maybe copying the text with full credit next to the link to The Herald's site is probably not what they're worried about? In any case, I've no wish to break any laws, so if anyone who understands such things feels that I should delete the copied text, please do say so here and I'll take the text out immediately (thank you!). Anyway, here's the text of the article linked above:
The Herald
Linn hit by loss of £1m as costs escalate
IAN McCONNELL, Business Editor November 17 2007
Home audio equipment manufacturer Linn Products slumped to a £1.09m pre-tax loss in the 12 months to October 31 last year, and its chairman Ivor Tiefenbrun says operating losses have continued into 2007.
However, sometimes outspoken entrepreneur Tiefenbrun highlights his board's confidence that Linn Products will return to profitability in 2008 on the back of a recovery plan implemented in the spring of this year. This included "significant" redundancies among a workforce averaging 343 people in the 2006 period.
Linn Products, based at Eaglesham in East Renfrewshire, had made profits of only £173,000 in the year to October 31, 2005, a far cry from the surplus of £2.1m recorded in its 2000 financial year.
The slump into loss in the year to October 2006, revealed in accounts which have just become available from Companies House, reflected a jump in costs. This more than offset a modest rise in turnover from £32m to £33.8m.
In his chairman's statement in the 2006 accounts, which is dated November 1 this year, Tiefenbrun provides an up-to-date view of Linn Products' position.
He states: "In March 2007, the company created a recovery plan to return the group to profitability and address the related cashflow issues. This recovery plan was ratified by the board and our bankers, and was immediately implemented."
Tiefenbrun declares: "The board is determined to work towards a successful financial recovery and the many activities that have taken place this year give encouraging signs that our recovery plan is well on course ..."
He notes that the company, in May this year, disposed of its loss-making Loewe Distribution business.
Tiefenbrun says: "The remaining business has undergone restructuring over the last year, including a significant number of redundancies, and is now better positioned to face the challenges of an increasingly competitive and rapidly-changing market-place. We have continued to invest in research and development, both to deliver new products in quarter four this year and for delivery in 2008 and beyond."
He concludes: "The board are confident that the company and group will return to profitability in 2008 as a result of the above activities."
Linn Products' directors highlight the fact that, in spite of the loss in the 12 months to October last year, the group maintained a strong balance sheet with net assets of £6.81m at the 2006 financial year-end.
They say the cost of the redundancies announced in the spring has been expensed fully in the year to October 31, 2007.
According to the directors' report, sales arising from the manufacture and distribution of audio equipment decreased by 6% in the 12 months to October 31 last year. Sales of televisions, through Linn Products' distribution company, LinnSight, jumped by 50%. Sales of compact discs fell to £367,000 in the 12 months to October 2006, from £387,000 in the prior 12 months.
Linn Products said in April that it was realigning its core business around the manufacture of "a more focused range of even higher quality products, specifically aimed at the premium end of the consumer electronics market".
Tiefenbrun was unavailable last night for comment beyond that in the accounts.
If anyone's interested in Linn's financials, there's an article in the Nov.17 2007 online edition of The Herald that discusses Linn's 1.09 million (pound sterling) loss in the fiscal year ending October 2006 (i.e., Oct 2005 to Oct 2006). (Basically, the article suggests Ivor's return is none too soon!)
The link to the article is here:
http://www.theherald.co.uk/business/new ... 90.0.0.php
As I'm not sure how long the above link will stay active, I'll copy the text below (with full credit given to The Herald and to the article's writer, Business Editor Ian McConnell). One thing, however: the article clearly states at the bottom that "reproduction" is "prohibited". Knowing nothing about internet copyright law, I'm guessing that maybe copying the text with full credit next to the link to The Herald's site is probably not what they're worried about? In any case, I've no wish to break any laws, so if anyone who understands such things feels that I should delete the copied text, please do say so here and I'll take the text out immediately (thank you!). Anyway, here's the text of the article linked above:
The Herald
Linn hit by loss of £1m as costs escalate
IAN McCONNELL, Business Editor November 17 2007
Home audio equipment manufacturer Linn Products slumped to a £1.09m pre-tax loss in the 12 months to October 31 last year, and its chairman Ivor Tiefenbrun says operating losses have continued into 2007.
However, sometimes outspoken entrepreneur Tiefenbrun highlights his board's confidence that Linn Products will return to profitability in 2008 on the back of a recovery plan implemented in the spring of this year. This included "significant" redundancies among a workforce averaging 343 people in the 2006 period.
Linn Products, based at Eaglesham in East Renfrewshire, had made profits of only £173,000 in the year to October 31, 2005, a far cry from the surplus of £2.1m recorded in its 2000 financial year.
The slump into loss in the year to October 2006, revealed in accounts which have just become available from Companies House, reflected a jump in costs. This more than offset a modest rise in turnover from £32m to £33.8m.
In his chairman's statement in the 2006 accounts, which is dated November 1 this year, Tiefenbrun provides an up-to-date view of Linn Products' position.
He states: "In March 2007, the company created a recovery plan to return the group to profitability and address the related cashflow issues. This recovery plan was ratified by the board and our bankers, and was immediately implemented."
Tiefenbrun declares: "The board is determined to work towards a successful financial recovery and the many activities that have taken place this year give encouraging signs that our recovery plan is well on course ..."
He notes that the company, in May this year, disposed of its loss-making Loewe Distribution business.
Tiefenbrun says: "The remaining business has undergone restructuring over the last year, including a significant number of redundancies, and is now better positioned to face the challenges of an increasingly competitive and rapidly-changing market-place. We have continued to invest in research and development, both to deliver new products in quarter four this year and for delivery in 2008 and beyond."
He concludes: "The board are confident that the company and group will return to profitability in 2008 as a result of the above activities."
Linn Products' directors highlight the fact that, in spite of the loss in the 12 months to October last year, the group maintained a strong balance sheet with net assets of £6.81m at the 2006 financial year-end.
They say the cost of the redundancies announced in the spring has been expensed fully in the year to October 31, 2007.
According to the directors' report, sales arising from the manufacture and distribution of audio equipment decreased by 6% in the 12 months to October 31 last year. Sales of televisions, through Linn Products' distribution company, LinnSight, jumped by 50%. Sales of compact discs fell to £367,000 in the 12 months to October 2006, from £387,000 in the prior 12 months.
Linn Products said in April that it was realigning its core business around the manufacture of "a more focused range of even higher quality products, specifically aimed at the premium end of the consumer electronics market".
Tiefenbrun was unavailable last night for comment beyond that in the accounts.
A great opportunity for the Lejonklou brand, but that is a BIG hole to fill in the high end market! (If it ever would happen. Which it won’t! Ivor is back, he will make it work!)