Ultimate Electronics

Ultimate Electronics, Inc. (NASDAQ: ULTE) is a leading specialty retailer of home entertainment and consumer electronics in Arizona, Colorado, Idaho, Illinois, Iowa, Minnesota, Missouri, Nevada, New Mexico, Oklahoma, South Dakota, Texas, and Utah. The company operates 58 stores including 11 stores in Colorado under the trade name SoundTrack, 39 stores – more... in Arizona, Idaho, Illinois, Iowa, Missouri, Nevada, New Mexico, Oklahoma, South Dakota, Texas, and Utah under the trade name Ultimate Electronics and eight stores in Minnesota under the trade name Audio King.

Founded in 1968 by Bill and Barb Pearse, Ultimate Electronics grew to nine stores by 1993 and became a public company on October 15, 1993. On June 27, 1997, Ultimate Electronics, Inc. completed a merger in which the company acquired all of the outstanding shares of Audio King Corporation. Audio King, a consumer specialty electronics company, operated 11 retail stores; eight in Minnesota, two in Iowa and one in South Dakota. Ultimate Electronics intends to continue to expand into select metropolitan areas in the Rocky Mountain, Midwest and Southwest regions with 30,000 to 34,000 square foot stores. In certain smaller markets, the store size may be as small as 20,000 square feet. With the exception of the Thornton, Colorado facility, all current stores are leased. Since June of 2000, the company has opened 27 stores with the latest openings in the Dallas/Fort Worth, Texas metropolitan area. Ultimate Electronics continues to analyze new store opportunities in existing markets to replace or expand some of its smaller locations.

The company appeals to a wide range of customers with an emphasis on selling mid to upscale products. The company's stores enable it to differentiate itself from its competitors by providing a comprehensive selection of name-brand consumer electronics, with an emphasis on limited distribution upscale brands, as well as by offering an extensive range of customer services and by displaying multiple home theater and audio demonstration rooms. These factors, together with its open and un-crowded merchandise displays and its policy of matching the lowest prices of its competitors, make it an attractive alternative to appliance/electronics superstores and mass merchants selling consumer electronics. – less – More from ZoomInfo »

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