BNET Industries

Market Cap:$12.7M
Last Fiscal Year Sales:$401.1M
  • Public
  • US
Dow Jones Description

Headquartered in Southern California, we are the parent company of some of the most respected brands in the consumer electronics industry. We are the largest designer and marketer in North America of premium home theater loudspeakers (sold under the Polk Audio ® and Definitive Technology ® brand names), and consumer-branded vehicle security and remote start systems (sold under the Viper ® , Clifford ® , Python ® , Autostart ® , and other brand names). We are also a supplier of mobile audio sold principally under both the Polk Audio and Orion brand names. We market our broad portfolio of products through many channels including leading national retailers and specialty chains throughout North America and around the world. Founded in 1982, we have approximately 470 employees and operations in California, Maryland, Canada, Europe, and Asia.

President, Oem Integration Division
Derek Schumann
Number of Employees 581
Contact Information

1 Viper Way

Vista, California 92081-7853

directed.com

(760) 598-6200

NAICS Code Audio and Video Equipment Manufacturing: 334310

Recent Events

  • Directeds Viper SmartStart to Be Awarded Best of Innovations Honors at 2010 CES

    11/12/09 - Merger / Acquisition - View Story

  • Mix: iTunesLP.net, FM app, SmartStart, KoalaKase

    10/15/09 - Product Announcement - View Story

News & Analysis

directed electronics inc. - All News and Analysis

  • Directed Electronics, Inc Q4 2007 Earnings Call Transcript

    Seeking Alpha - 2008-03-17

    Question-and-Answer SessionOperator Thanks, sir. Ladies, and gentlemen, we will now begin our question-and-answer session. Operator instructions Our first question comes from Scot Ciccarelli with RBC Capital Markets. Please go ahead. Scot Ciccarelli - RBC Capital Markets Hey guys, Scot Ciccarelli. A couple of questions for you. Kevin, you...

    Tags: Directed Electronics Inc.

Decision Makers

Name (plus bio) Position
Derek Schumann President, Oem Integration Division
Kevin Duffy President
John D. Morberg Vice President Finance, Chief, Financial Officer, and Treasurer
Ronald F. Dutt CFO, Treasurer & Executive Vice President
Glenn Busse Senior Vice President, Sales
Mark E. Rutledge Senior Vice President, Engineering & Prod Dev
Richard J. Hirshberg Senior Vice President, Finance and Treasurer
Al Fontane Sales Manager, Regional Sales Manager, and Vice President
Alan P. Heim Vice President, HR
J. Steven Wood Vice President, Sales & Admin
K.C. Bean General Counsel, Secretary & Vice President
Michael Smith Vice President, Operations
John Mills Managing Director, Integrated Corporate Relations
Edmond S. Thomas Independent Director
Kennedy Gammage Director, Public Relations
Kevin B. McColgan Independent Director
Anne Bitonti Administrator

Board of Directors

Name (plus bio) Position
Seth R. Johnson Chairman
Andrew D. Robertson Board of Directors
Darrell E. Issa Board of Directors
James E. Minarik Board of Directors
Jamie Elias Board of Directors
Jon E. Elias Board of Directors
S. James Spierer Board of Directors
Victor J. Orler Board of Directors

Derek Schumann currently serves as President of our business unit focused exclusively on the development of our OEM integration products. A successful entrepreneur, Schumann founded Trilogix Electronic Systems, a company specializing in the design and development of vehicle interface solutions, in 1997. 10 years later, Trilogix was acquired by DEI Holdings, and in April 2008, DEI Holdings' three Canadian subsidiaries (Autostart, Directed Electronics Canada, and Trilogix) were amalgamated into one corporate entity now known as Directed Canada, in which Mr. Schumann served as President. Schumann graduated from Bishop's University with a Divisional Major in Economics and Political Science, and a minor in Philosophy.

Organization Position Status
Directed Electronics, Inc. President, Oem Integration Division Current

Kevin P. Duffy has served as our Executive Vice President and Chief Financial Officer since November 2007. Mr. Duffy previously served our company as Senior Vice President Corporate Development and Marketing from March 2006, and Vice President from June 2003 to March 2006. From July 2002 to June 2003, Mr. Duffy served as a consultant to our company. From August 2001 to June 2003, Mr. Duffy attended the Stanford Graduate School of Business where he received a Masters of Business Administration. From August 2000 to January 2002, Mr. Duffy worked for ThinkTank Holdings LLC, a private venture capital firm located in Southern California, and one of its portfolio companies, as Vice President of Business Development and then as Executive Vice President. Mr. Duffy's previous experience includes serving as Director of Strategy at Clarion Corporation of America, as well as consulting with Bain & Company and Deloitte & Touche. Mr. Duffy holds an A.B. in Economics from Princeton University.

Organization Position Status
Directed Electronics, Inc. President Current
Directed Electronics, Inc. CFO & Executive Vice President Former
Thinktank Holdings LLC Executive Vice President Former
Directed Electronics, Inc. Senior Vice President, Marketing Former
Thinktank Holdings LLC Vice President of Business Development Former
Princeton University A.B. In Economics Former
Stanford Graduate School of Business Former

Organization Position Status
Souplantation Chief Financial Officer Current
Sweet Tomatoes Cfo Current
Directed Electronics, Inc. Vice President Finance, Chief, Financial Officer, and Treasurer Current
PETCO Animal Supplies, Inc. Chief Financial Officer Former
PETCO Animal Supplies, Inc. Vice President Former
PETCO Animal Supplies, Inc. Controller Former
Gardenfresh Former
Directed Electronics, Inc. Treasurer Former
University Corp. Juris Doctor Former
McGeorge School of Law, University of the Pacific Juris Doctor Former
University of the Pacific Juris Doctor Former
University of San Diego B.B.A. In Accounting Former

Organization Position Status
Directed Electronics, Inc. CFO, Treasurer & Executive Vice President Current

Glenn R. Busse has served as our Senior Vice President — Sales since January 2007. Mr. Busse has served our company in various capacities since joining our company in 1986 as Vice President of Sales and Marketing. Prior to joining our company, Mr. Busse served as the National Sales Manager of Black Bart Systems, a vehicle security company. Mr. Busse received his baccalaureate certification from Lycee Paul Langevin in Surenes, France and is fluent in French.

Organization Position Status
Directed Electronics, Inc. Senior Vice President, Sales Current

Organization Position Status
Directed Video Senior Vice President, Engineering and Product Development Current
Directed Electronics, Inc. Senior Vice President, Engineering & Prod Dev Current
University of San Diego Masters of Science In Executive Leadership Former
University of California, San Diego Masters In Electrical Engineering Former
University of San Diego Masters of Science In Executive Leadership Former
University of California, San Diego Bachelors of Science Former

Organization Position Status
Directed Video Senior Vice President, Finance and Treasurer Current
Directed Electronics, Inc. Senior Vice President, Finance and Treasurer Current
Directed Electronics, Inc. Board of Directors Current
McGaw Corporation Chief Financial Officer Former
Directed Electronics, Inc. Chief Financial Officer and Vice President Finance Former
Kellogg School of Management at Northwestern University Masters of Business Administration Former
Northwestern University Bachelors Degree Former

Al Fontane has been in Directed's sales organization for more than 15 years as a Sales Manager, Regional Sales Manager, and Vice President. He leads a team of a dozen Sales Managers and Independents in the country's most populous region, east of the Mississippi River. He also has an extensive background in the Military Post Exchange marketplace.

Organization Position Status
Directed Electronics, Inc. Sales Manager, Regional Sales Manager, and Vice President Current

Alan P. Heim has served as our Vice President — Human Resources since November 2007. Prior to joining our company, Mr. Heim served as the Director of Human Resources of RF Magic, Inc (now Entropic Communications) from September 2006 to September 2007. From January 2004 to August 2006 Mr. Heim served as Vice President for HR Interactive, a management consulting firm. Mr. Heim served as Vice President of Operations and HR for Lathian Systems, a software development company from January 2000 to November 2006, and as Corporate Director, Human Resources for ICN Pharmaceuticals. Mr. Heim held multiple leadership positions over a 23 year career as an Officer in the United States Marine Corps and retired at the rank of Colonel. During his Marine Corps experience, Mr. Heim was awarded a Research Fellowship at Harvard where he studied and wrote on leadership and change. Mr. Heim holds a BA degree from Salem State College, and a MA in HR Management from Pepperdine University. He was awarded his SPHR (Senior Professional of Human Resources) certification in 1997.

Organization Position Status
Directed Electronics, Inc. Vice President, HR Current
Directed Video Vice President, Human Resources Current
Lathian Systems, Inc. Vice President of Operations and Hr Former
Pepperdine University MA In Hr Management Former
ICN Pharmaceuticals Board of Directors Former
Salem State College BA Degree Former

Organization Position Status
Directed Video Vice President, Sales and Sales Administration Current
Directed Electronics, Inc. Vice President, Sales & Admin Current
Ultimate Electronics, Inc. Vice President of Merchandising Former

KC Bean has served as our Vice President and General Counsel since July 2004 and as our Secretary since November 2005. From August 2003 to July 2004, Mr. Bean served as our General Counsel, and from September 2000 to August 2003, Mr. Bean served as our Director of Intellectual Property. From September 1997 to September 2000, Mr. Bean attended Thomas Jefferson School of Law, where he earned his Juris Doctor. Mr. Bean holds a Bachelor of Science Degree from Boise State University and is licensed to practice law in the State of California and before the United States Patent and Trademark Office.

Organization Position Status
Directed Electronics, Inc. General Counsel, Secretary & Vice President Current

Organization Position Status
Remicalm LLC Cfo Current
Omni Majestic Hotel Senior Vice President and General Counsel Current
Select Guest Senior Vice President and General Counsel Current
Omni Hotels Management Corporation Senior Vice President and General Counsel Current
Omnirealsimple Senior Vice President and General Counsel Current
Omni Hotels Corporation General Counsel & Senior Vice President Current
Directed Video Vice President, Operations Current
Directed Electronics, Inc. Vice President, Operations Current
Ares Management LLC Managing Director Current
B-Med Technologies, Inc Founder and Chief Clinical Officer Current
University of Rochester Fellow Department of Anesthesiology Current
Johns Hopkins University School of Medicine Assistant Professor Current
Michael A. Smith: Attorney Attorney Current
Aspire Trading Company LLC Member of the Chicago Mercantile Exchange Current
Gulf Capital Partners, Inc. Principal Current
Ares Management LLC Board of Directors Current
Ares Capital Corp Board of Directors Current
CME Group, Inc. Member Current
Aspire Trading Company LLC Member of the Chicago Mercantile Exchange Current
Citicorp Investment Bank Managing Director Former
Ares Management LLC Partner, Private Debt Group Former
RBC, Inc. partner Former
University of Rochester School of Medicine & Dentistry Faculty Former
Omni Hotels Corporation General Counsel Former
Salomon Brothers Former
Atlantic Richfield Company Former
Salomon Brothers Inc. Former
London Manhattan Former
Opec Corp. Former
California School of Professional Psychology Doctoral Degree In Clinical Psychology Former
University of Texas School of Law Jd With Honors Former
Southern Methodist University Juris Doctor Former
Southern Methodist University Masters Degree In Business Administration Former
The University of Texas at Austin Masters In Business Former
The University of Texas Bachelor's Degree In Accounting With Honors. Former
University of Notre Dame B.S. in Business Administration Former
The University of Texas at Austin Bachelors Degree Former
Auburn University Bachelors Degree Former
Southwest Texas State University B.S. Former
Auburn University Business Administration, Operations Management Former
University of Notre Dame Degree Former
The University of Texas at Austin Business Administration, Information Technology Former
The University of Texas Degree Former
California School of Professional Psychology Degree In Clinical Psychology Former

Organization Position Status
Directed Electronics, Inc. Managing Director, Integrated Corporate Relations Current

Mr. Edmond S. Thomas has been a director of our Company since November 28, 2007. Mr. Thomas was appointed President and Chief Executive Officer of our Company effective October 8, 2007. From 2005 to October 2007, Mr. Thomas served as President and Co-Chief Executive Officer of Tilly's Inc., a privately owned company that sells action sports related apparel, footwear and accessories. Mr. Thomas was previously President and Chief Operating Officer of our Company from 1992 to 2000. Mr. Thomas is currently the managing partner of The Evans Thomas Company, LLC, which is the general partner of AXIS Capital Fund I, LP, which provides advisory services for retail, catalog, and consumer goods companies along with investment in emerging growth retail companies. Mr. Thomas serves on the boards of directors of Directed Electronics Inc., a designer and marketer of electronics products, and Trans-World Entertainment Corporation, a specialty music and video retailer.

Organization Position Status
The Wet Seal, Inc. President & CEO Current
Thomas and Company Managing Partner Current
Directed Electronics, Inc. Independent Director Current
Directed Electronics, Inc. Board of Directors Current
Domain Inc. President, Chief Operating Officer Former
Tilly's Inc. President and Co-Chief Executive Officer Former
The Wet Seal, Inc. President, Chief Operating Officer Former
Domain Inc. Director Former
Trans World Entertainment Corporation Board of Directors Current
Villanova University Bachelor of Science Degree In Accounting Former
Directed Electronics, Inc. Member Former

Organization Position Status
Directed Electronics, Inc. Director, Public Relations Current
Directed Electronics, Inc. Manager, Corp Comm Former

Kevin B. McColgan has been a member of our board of directors since November 2005. Mr. McColgan has served as President and Chief Executive Officer of Corvest Promotional Products Inc., a privately held supplier of promotional products and an affiliate of Trivest Partners, L.P., since February 2005. Prior to that, he served as Chairman and Chief Executive Officer of Wellington Cordage, LLC, a privately held manufacturer and retailer of consumer and commercial cordage, from March 2004 to February 2005. Mr. McColgan previously served as President and Chief Executive Officer of Aero Products International, Inc., a privately held manufacturer of adjustable air mattresses and beds, from July 1997 to February 2004. Mr. McColgan holds a Bachelor of Arts in business economics from the State University of New York.

Organization Position Status
Directed Electronics, Inc. Independent Director Current
Directed Electronics, Inc. Board of Directors Current
Wellington Cordage, LLC Chief Executive Officer Former
Aero Products International, Inc. Chief Executive Officer Former
Aero Products International, Inc. President Former
Corvest Promotional Products Inc. President & CEO Former
Wellington Cordage, LLC Chairman Former
The State University of New York Bachelor of Arts In Business Economics Former
Directed Electronics, Inc. Member Former

Anne joined Directed Electronics in 2004 as the Administrator for the Snake Pit. She has 14 years experience as a Client Service Specialist providing operational support in a variety of industries. She has a background in software technical support, event coordination, and troubleshooting operational problems. She has a degree in Exercise Science and hopes to be one of the first people to pass the MECP certification exam as a result of training received at the Snake Pit.

Organization Position Status
Directed Electronics, Inc. Administrator Current
Directed Electronics, The Snake Pit School Administrator Current

Organization Position Status
Mooers Strategy Group Current
Directed Electronics, Inc. Chairman Current
Pacific Sunwear of California, Inc. Board of Directors Current
Pacific Sunwear of California, Inc. CEO Former
Abercrombie & Fitch Co. Coo Former
Directed Electronics, Inc. Board of Directors Former
University of Chicago MBA Former
Yale University BA In Economics Former

Andrew D. Robertson has served as a director of our company since January 2001. Mr. Robertson has served as the President of Robertson, LLC, a private mergers and acquisitions advisory firm, since February 2001. From 1991 until February 2001, Mr. Robertson served in various capacities for Merrill Lynch, culminating in his position as Managing Director of Mergers and Acquisitions in the Exclusive Sales Group, Investment Banking Division. Mr. Robertson holds a Bachelor of Arts from Westminster College, a Juris Doctor from Northwestern University Law School, and a Masters of Business Administration from Northern Illinois University.

Organization Position Status
Directed Electronics, Inc. Board of Directors Current
Westminster College Bachelor of Arts Former

Congressman Darrell E. Issa has served as a director of our company since December 1982. Mr. Issa founded our company in 1982 and also served as President and Chief Executive Officer until December 2000. Mr. Issa was elected to Congress in 2000 and serves on the House Permanent Select Committee on Intelligence, Committee Oversight and Government Reform, and the Judiciary Committee. Mr. Issa previously served on the Board of Governors for the Electronics Industry Alliance and as Chairman of the Consumer Electronics Association. Mr. Issa attended Kent State University and Siena Heights College and earned degrees in business.

Organization Position Status
Directed Electronics, Inc. Board of Directors Current

James E. Minarik has served as our Chief Executive Officer since January 2001. From 1992 to December 2000, Mr. Minarik was employed by business units of the publicly traded and Japan-based Clarion Company Limited, a supplier of audio equipment to global car manufacturers and retailers, including as the Chief Executive Officer of Clarion Corporation of America from 1997 to December 2000. Mr. Minarik currently serves on the board of directors of Escort Inc., a privately held radar detector company, Twin-Star International, Inc., a privately held home furnishings manufacturer and a leading manufacturer of electric fireplaces and bathroom vanities, and of the Boys and Girls Club of Vista Foundation. Mr. Minarik has previously served as a member of the Board of the Consumer Electronics Association from 1992 through 2007 and as a member of the Board of Governors of the Electronics Industry Association from 2001 through 2006. Mr. Minarik received both a Bachelors Degree and a Masters of Business Administration from the Pennsylvania State University.

Organization Position Status
Twin Star Board of Directors Current
Directed Electronics, Inc. Board of Directors Current
Clarion Corporation of America Chief Executive Officer Former
Directed Electronics, Inc. President, Chief Executive Officer, and Director Former
The Pennsylvania State University Masters of Business Administration Former
The Pennsylvania State University Bachelors Degree Former

Organization Position Status
Trivest Partners, LP Partner and Allegiance's Chairman Current
Twin-Star International, Inc Director Current
Schoor Depalma Incorporated Director Current
Directed Electronics, Inc. Board of Directors Current
Electronics Incorporated Director Current
Harvard Business School M.B.A Former
Harvard Business School M.B.A. Former
Boston College B.S., magna cum laude Former

Jon E. Elias has served as a director of our company since December 1999. Mr. Elias is a partner of Trivest Partners, L.P. and has served in various capacities with affiliates of Trivest Partners, L.P. since 1997. Mr. Elias currently serves as Chairman of the Board of Allegiance Security Group, a privately held security guard services business, and on the board of directors of CMX Consulting, Inc., a privately held design and engineering firm, Box-Board Products, Inc., a privately held manufacturer of corrugated cardboard products, DirectBuy Holdings, Inc., a holding company for DirectBuy, Inc., a privately held leading franchisor of consumer buying clubs, and Twin-Star International, Inc., a privately held home furnishings manufacturer and a leading manufacturer of electric fireplaces and bathroom vanities. Mr. Elias received his Bachelor of Science in Accounting, magna cum laude, from Boston College and his Masters of Business Administration from the Harvard Business School.

Organization Position Status
Allegiance Security Group Chairman of The Board Current
Directed Electronics, Inc. Board of Directors Current

S. James Spierer has been a member of our board of directors since November 2005. Until his retirement in April 2006, Mr. Spierer served as President and Chief Executive Officer of Jet Plastica Industries, Inc., a privately held manufacturer of plastic foodservice disposables and an affiliate of Trivest Partners, L.P., since 1987. Prior to that, Mr. Spierer held various positions with Exxon Mobil Corporation, a publicly traded petroleum and petrochemical company, for 18 years, serving most recently as Vice President of Planning and General Manager in the company's plastics division. Mr. Spierer holds a Bachelor of Science in mathematics from Brooklyn College and a Master of Science from New York University.

Organization Position Status
Directed Electronics, Inc. Board of Directors Current
New York University Master of Science Former
New York University Bachelor of Science In Mathematics Former

Victor J. Orler has been a member of our board of directors since November 2005. Prior to retiring in September 2002, Mr. Orler was a Partner at Accenture Ltd, a public consulting firm, from 1990 to September 2002. Currently, Mr. Orler serves as a guest lecturer teaching financial analysis and shareholder value management for Accenture Ltd’s Management Training Program. Mr. Orler holds a Bachelor of Science degree in marketing from Pennsylvania State University and a Masters of Business Administration in finance and marketing from the University of Chicago. Mr. Orler also teaches finance at Northwestern University.

Organization Position Status
Directed Electronics, Inc. Board of Directors Current
The Pennsylvania State University Bachelor of Science Degree In Marketing Former

Executive News

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    Business Wire - 8/24/09 - View Story

  • Wet Seal names real estate exec

    Los Angeles Business from bizjournals - 8/24/09 - View Story

  • Wet Seal profit tumbles on same-store sales drop

    CNBC - 8/20/09 - View Story

  • The Wet Seal, Inc. Announces Second Quarter Fiscal 2009 Results

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     DEIX $0.50 +0.01 (2.04% )
Average Volume 24,052
Shares Outstanding 25.55M
Market Cap 12.8M
Year High 0.6
Year Low 0.06
Earnings Per Share N/A
P/E Ratio -
Dividend N/A
Yield N/A
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