Weston in Space

For the second time in four years, the parent company of Brink’s Home Security has filed for Chapter 11 bankruptcy protection. Monitronics International, Inc. has entered into a Restructuring Support Agreement with both the lenders that hold approximately 78% of the company’s outstanding funded debt, and with the holders of a majority of the company’s equity. The goal is to have an expedited restructuring that would reduce Monitronics’ debt by approximately $500 million and provide increased financial flexibility to the company. Back in 2019, when Monitronics was owned by Ascent Capital, the company filed for bankruptcy protection to refinance $985 million in debt. Back in 2018, Monitronics made a licensing agreement with Brink’s to use the Brink’s Home Security name. The current lenders are ones that took a stake in the company back in 2019 as part of its takeback term loan facility, including funds managed by Monarch Alternative Capital LP and Invesco Senior Secured Management, ...

Where it comes to championing and deploying new technologies and services into the electronic security industry, it’s been well evidenced in recent years that ADT is at the leading edge. As the commanding market share leader (reportedly one-fifth of nationwide recurring revenues), the company’s offerings and operations enormously impact the direction and disposition of the entire professional installation and monitoring business. This includes the competitive landscape, investment climate, and public perception of what currently constitutes security and related services. Thus, when ADT Commercial announced the launch of its EvoGuard intelligent autonomous guarding solutions earlier this year, it likely signified the dawn of a new era of capabilities, possibilities, and opportunities for everyone engaged in the missions of security and safety. The firm has spent the past several years building toward this tipping point moment, acquiring and partnering with leaders in robotics and artif...

MELVILLE, N.Y.—Resideo recently celebrated the grand reopening of its offices in Louisville, Ken., following 12 months of renovation to modernize the site. The updated facility, located at 2700 Blankenbaker Parkway, Louisville , Ken., was designed to foster innovation and deliver a collaborative work environment for employees. The shared site is home to more than 180 team members across Resideo ‘s ADI Global Distribution and Products & Solutions (P&S) businesses that span various departments including sales, marketing, customer service, sales support, and human resources, among others. “For more than 20 years, our Louisville, Ken., office has served as a key site for the company as it provides many sales and support functions to our customers across both ADI and P&S,” says Rob Aarnes, president of ADI Global Distribution, who kicked off the grand opening events. “Modernizing this site represents our commitment to investing in our businesses and the community, and the impor...

LogicMark, Inc.  (Nasdaq: LGMK ), a provider of personal emergency response systems (PERS) , health communications devices, and technology, announced its revenues for Q1 2023 ended March 31 rose 31% versus the prior quarter. The company’s gross profit in the first quarter was $1.9 million, up 41% from the prior quarter. Gross margin in the first quarter was 66.3%. In January 2023, LogicMark completed a registered public offering of common stock , raising $5.2 million in gross proceeds. In April, the company executed a 1-for-20 reverse stock split of its outstanding shares of Common Stock and Series C Redeemable Preferred Stock in order to regain compliance with Nasdaq listing requirements. Prior to the reverse stock split, the stock had sunk to just $0.23 cents per share. The stock is at $3.30 per share today. Other highlights from the company include the launch of the LogicMark store on Amazon, expanding its B2C sales channel, and partnering with US Monitoring to offer 24/7 monitor...

Multiple large orders for Vicon Industries ‘ equipment helped drive revenues up 37% for parent company Cemtrex Inc. (NASDAQ: CETX , CETXP ) during its fiscal second quarter ended March 31, 2023. Revenue for Q2 2023 increased to $16.1 million, compared to revenue of $11.7 million for Q2 2022. Cemtrex’s security segment revenues increased 47% to $9.9 million in as border protection vertical drove new order volumes for Vicon . The company’s gross margin hit 46%, up from 32% in the prior year quarter. Operating income was $0.4 million for Q2 compared to operating loss of $2.9 million last year. Cash and equivalents as of March 31, 2023 was $6.6 million. Vicon recently launched a new suite of AI-based analytics with enhanced lineup of Vicon Roughneck AI Camera series. The company received an $800,000 order through Vicon Industries for a new prison being built in the United Kingdom to install a full end-to-end system of Vicon’s surveillance products including hardware and software. Also, ...

Following quarter after quarter of double-digit revenue increases, Alarm.com (Nasdaq: ALRM ) eked out just a 2.1% revenue increase for the first quarter of 2023. Total revenues were $209.7 million for the quarter versus $205.4 million last year. The revenues were more impressive for the company’s bread-and-butter income source of Software as a Service (SaaS). Alarm.com’s SaaS and license revenue increase 9.9% to $135.4 million compared to $123.2 million last year. EBITDA increased to $30.6 million, compared to $29.9 million for the first quarter of 2022. “We’re pleased to report solid first quarter results and continued momentum across the business to start the new year,” said Steve Trundle, CEO of Alarm.com, based in Tysons, Va. “Many of the markets we serve performed well and aggregate performance was better than expected. As we continue to grow our diversified business, we also executed on a set of cost reduction initiatives to enhance company efficiency.” Looking ahead, the comp...

PowerHouse Alliance , a national network of independent distributors, has announced its new board of directors chosen unanimously by the group’s member companies. New board members include: President: Garrett Breinholt, Mountain West Vice President: Pat Berna, UI Supplies Secretary: Craig Breinholt, Mountain West At-Large Board Member: Nate Taliani, Davis Distribution At-Large Board Member: Alec Haight, Pioneer Music “Our members are the key to our success. Their connections locally provide dealers with the resources they need. The PowerHouse Board includes members from across our network –  this select group helps us develop new initiatives, provides strategic guidance and will drive new business for the Alliance in 2023 and beyond,” says Dennis Holzer, executive director of the PowerHouse Alliance. PowerHouse Alliance Expanding The PowerHouse Alliance kicked off 2023 with a roaring starting with a long-anticipated expansion into Canada with the addition of Evolution Ho...