Ultimate Electronics, Inc. | Introduction
Introduction
321 West 84th Avenue, Suite A
Thornton, Colorado 80260-4824
U.S.A.
Telephone: (303) 412-2500
Fax: (303) 412-2501
Web site: http://www.ultimateelectronics.com
Public Company
Incorporated: 1968 as Pearse Electronics, Inc.
Employees: 3,497
Sales: $712.9 million (2004)
Stock Exchanges: NASDAQ
Ticker Symbol: ULTEQ
NAIC: 443112 Radio, Television, and Other Electronics Stores; 443130 Camera and Photographic Supplies Stores; 451220 Prerecorded Tape, Compact Disc, and Record Stores; 811211 Consumer Electronics Repair and Maintenance
Ultimate Electronics, Inc. is a leading specialty retailer of home entertainment and consumer electronics products in the Rocky Mountain, Midwest, and Southwest regions of the United States. At the end of 2004 the company was operating 65 stores: 54 Ultimate Electronics stores in Arizona, Idaho, Illinois, Iowa, Kansas, Minnesota, Missouri, Nevada, New Mexico, Oklahoma, South Dakota, Texas, and Utah; and 11 Sound-Track outlets in Colorado. The company's stores specialize in mid- to high-end audio, video, television, and mobile electronics products, sold by a knowledgeable staff of commissioned salespeople. Ultimate's future was in doubt, however, following its filing for Chapter 11 bankruptcy protection in January 2005. The filing was precipitated by a brutally competitive environment in consumer electronics retailing, as Ultimate Electronics found its sales and market share declining primarily as a result of the voracious growth of the two industry giants, Best Buy Co., Inc. and Circuit City Stores, Inc.