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U.S. consumer electronics upstart Vizio has filed for an IPO. In doing so, Vizio has revealed how it manages to be profitable in the cutthroat TV business. Irvine, Calif.-based Vizio filed documents with the Securities and Exchange Commission on Friday to sell up to $172.5 million in stock in its initial public offering. It plans to be listed under the ticker VZIO. Vizio is best known for its low-priced, feature-rich televisions sold at mass retailers such as Wal-Mart (WMT), Best Buy (BBY) and Costco COST). By outsourcing all of its manufacturing to Asia and focusing on design and marketing, Vizio keeps its overhead low. The company has just 407 employees. In 2014, Vizio reported a gross profit margin of only 6%. It had net income last year of $45 million, up 75% year over year, on sales of $3.14 billion, up 5%. For the first six months of 2015, Vizio… Scalper1 News
Scalper1 News