Edison Investment Research - Focusrite (TUNE) Focusrite - Earnings growth despite market headwinds

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Edison Investment Research

Kate Heseltine

Focusrite - Earnings growth despite market headwinds

Focusrite has delivered 23% H119 earnings growth, despite market headwinds, reflecting continued market share gains for its Focusrite ranges, a strong performance in Europe and 260bp gross margin improvement. The company is actively seeking opportunities to use its substantial Â£26m net cash balance, as reflected in the current valuation.

30/04/2019 7 EN

Underlying

Focusrite

Focusrite is engaged in the development, manufacture and marketing of professional audio and electronic music products. As of Aug 31 2017, Co. had three business segments: Focusrite, which includes the sales of Focusrite or Focusrite Pro branded products; Novation, which includes the sales of Novation or Ampify branded products; and Distribution, which distributes third-party brands including KRK, Ableton, Stanton, Cerwin-Vega, Cakewalk and sE Electronics.

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GB00BSBMW716 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Kate Heseltine

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Focusrite - Earnings growth despite market headwinds

Focusrite - Cautious optimism after significant challenges

Focusrite: 4 directors

Hybridan Small Cap Feast - 18 Mar 24

Foxtons Group - Deals' benefits matched by tax rise

Partners Group Private Equity - Seeing good demand for several of its assets

Cereno Scientific - A productive period with plenty more to come

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