Mahwah, N.J. -
closed out its fiscal year ending March reporting that it will close its Snell Acoustics operation and discontinue the Escient brand to focus on its four core brands.
The core brands are Denon, Marantz, McIntosh and Boston Acoustics.
D&M announced the decision in a statement that also reported that the fiscal year that ended March 31 had "a significant improvement in profitability," but not financial numbers were reported.
"The changing landscape of the speaker industry has made it extremely difficult for Snell to remain a viable business," D&M said in the statement. "The advanced loudspeaker technologies developed at Snell, however, will be leveraged by other D&M brands."
As for Escient, D&M will "utilize all of the company's expertise toward incorporating its innovative technologies into our core D&M brands." Meantime, Escient will provide "necessary software upgrades for its existing products and will continue to support its dealers and customers by honoring warranty repairs and maintaining customer service," the company added.
Escient marketed CD/DVD-management systems and networked hard-drive music servers. Snell offers high-end in-room and custom-installed speakers, complementing the more moderately priced Boston Acoustics lineup.