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Karp Joins Audio Video Systems

12/08/2006 03:02:00 PM Eastern

Mineola, N.Y. – Franklin Karp, the former president/CEO of Harvey Electronics, has joined Audio Video Systems (AVS), a New York-area custom installer based here, as chief operating officer.

In his new role Karp will oversee AVS’ long-term growth with responsibility for real estate, inventory control, buying, personnel, and new business strategies.

He will report directly to AVS principles Elliot Ingber and Fred Martin.

Karp left Harvey last month after a new management team assumed control of the New York area A/V specialty chain in a cash-for-equity swap. He joined the company 15 years ago as merchandising manager, and before that was a buyer and general manager at Rabson’s Stereo Warehouse, where he spent 19 years.

Founded in 1976, AVS specializes in whole home A/V; CD and DVD management; lighting; home theaters; HVAC; security; structured wire; telephony; landscaping; and other home systems. The company has 50 employees and relocated to its current headquarters here in 2002.

In a related development, a Nasdaq panel has determined that Harvey has met the requirements for continued listing on the stock exchange. Interim chief executive Martin McClanan said the company will now focus on using a $4 million equity infusion “to improve shareholder value by reinvigorating our stores, revitalizing our marketing efforts and increasing our comparable store sales results, ultimately striving to improve our overall net operating results.”