Voxx Intl Corp Stock Price, News & Analysis

VOXX International Corporation (NASDAQ: VOXX) has appointed Beat Kahli as its new President, effective immediately. Kahli, who also serves as Co-Vice Chairman and is the largest shareholder, will focus on enhancing the company's operations and strategy. He has invested over $50 million in VOXX, expressing confidence in its growth potential, particularly in automotive electronics and biometrics. CEO Pat Lavelle and Chairman John Shalam praised Kahli's contributions and vision. VOXX, known for its diverse portfolio spanning 35 brands, is well-positioned to leverage its market leadership despite upcoming challenges in the global economy.

VOXX International Corporation (NASDAQ: VOXX) reported its Fiscal 2023 third quarter results, ending November 30, 2022, with net sales of $143.1 million, down 25.4% from $191.9 million in the year-ago period. The Automotive Electronics segment net sales decreased 21.2% to $48.6 million, while Consumer Electronics saw a 27.5% decline to $94.1 million. However, net income was $7.4 million, a significant improvement compared to a net loss of $28.1 million in the prior year. Operating expenses decreased 20.7% to $34.8 million, reflecting cost-control measures taken amidst ongoing supply chain challenges.

VOXX International Corporation (NASDAQ: VOXX) will release its Fiscal 2023 third quarter results on January 9, 2023, after market close. A conference call and webcast to discuss the results and business updates will occur on January 10, 2023, at 10:00 a.m. Eastern. VOXX is recognized for its automotive and consumer technology solutions with a diverse portfolio including advanced security technologies. The company emphasizes its leadership in in-vehicle entertainment and automotive security.

VOXX International Corporation reported its Fiscal 2023 second quarter results ending August 31, 2022. Net sales decreased to $125.7 million, down 12.2% from $143.1 million in the same period last year. The Automotive Electronics segment saw an 18.7% drop, affected by supply chain issues and reduced consumer spending. Operating loss surged to $10.0 million, up from $2.7 million in the prior year, while net loss attributable to VOXX was $10.2 million. Despite current challenges, management expects a stronger second half.

VOXX International Corporation (NASDAQ: VOXX) announced it will report its Fiscal 2023 second quarter results for the period ended August 31, 2022, on October 11, 2022, after the market closes. A conference call and webcast will follow on October 12, 2022, at 10:00 a.m. Eastern to discuss the results and provide operational updates. VOXX is a leader in automotive and consumer technologies, with a diverse portfolio of approximately 35 brands. The company emphasizes its commitment to adapting to market changes and technological advancements.

VOXX International Corporation (NASDAQ: VOXX) announced the launch of a new e-Commerce platform, starting with Premium Audio Company. This initiative aims to enhance customer experience by improving data aggregation, operational support, and visibility. Key features include reduced call times for customer service, simplified checkout, and more payment options such as Amazon Pay. CEO Pat Lavelle emphasized the importance of having robust infrastructure to support growth and customer satisfaction, leveraging this new platform for future e-Commerce initiatives worldwide.