Welcome to our dedicated page for Voxx Intl news (Ticker: VOXX), a resource for investors and traders seeking the latest updates and insights on Voxx Intl stock.
VOXX International Corporation (NASDAQ: VOXX) delivers cutting-edge automotive electronics and premium audio solutions through brands like Klipsch® and RCA®. This news hub provides investors and industry professionals with direct access to official corporate announcements and market-moving developments.
Our curated collection features earnings reports, product launch details, partnership announcements, and regulatory filings. Track VOXX's progress in automotive security systems, in-vehicle entertainment innovations, and emerging biometric technologies through verified press releases and financial disclosures.
Key updates include quarterly financial results, executive leadership changes, manufacturing expansions, and technology licensing agreements. All content is sourced directly from VOXX International's corporate communications to ensure accuracy and timeliness.
Bookmark this page for streamlined access to essential information about VOXX's market position in automotive OEM solutions and consumer electronics. Check regularly for updates on strategic initiatives affecting the company's global operations across North America, Europe, and Asia.
VOXX International Corporation (NASDAQ: VOXX) reported strong fiscal Q2 2021 results with net sales of $128 million, a 41.9% increase year-over-year. Premium audio products grew significantly, contributing $69.3 million to sales. The automotive segment saw an overall increase, driven by aftermarket sales, despite OEM product sales declining by 9.3%. The company secured $30 million in new OEM business, boosting future outlook. Operating income reached $8.7 million, compared to a loss last year, with net income of $7.3 million. The gross margin improved to 29.7%, reflecting effective cost management.
VOXX International Corporation (NASDAQ: VOXX) will report its fiscal 2021 second quarter results for the period ending August 31, 2020, on October 13, 2020, after market closure. The company's conference call and webcast are scheduled for October 14, 2020, at 10 a.m. Eastern. VOXX specializes in automotive and consumer technologies, offering advanced security and entertainment solutions through a portfolio of 35 brands. Investors can access the conference via toll-free and international numbers or through the company's website at voxxintl.com.
The press release from EyeLock LLC announces the launch of its new EyeLock ID system, designed for secure access by remote and on-site workers. This system integrates the myris iris authentication device and user-friendly software to enhance data security in response to increased remote work due to COVID-19. EyeLock ID supports biometric logins for various corporate applications, offering multi-factor authentication and single sign-on capabilities. The product aims to improve accountability among employees when accessing corporate devices.
EyeLock LLC has launched the iTemp® add-on for its nano iXT® iris biometric reader, enabling simultaneous iris authentication and forehead temperature checks. Utilizing the FLIR Lepton® LWIR sensor, iTemp aims to enhance workplace safety amidst the COVID-19 pandemic by providing an affordable and accurate tool for temperature screening. This module allows businesses to confidently manage access based on temperature readings. EyeLock emphasizes the reliability and user-friendliness of iTemp, marking it as an essential solution for modern biometric security needs.
VOXX International Corporation (NASDAQ: VOXX) announced a name change of its subsidiary from Klipsch Holding, LLC to Premium Audio Company, LLC. This change reflects the company's expanding brand portfolio and a new distribution alliance with Onkyo & Pioneer Corporation. The Premium Audio Company will house two subsidiaries: Klipsch Group, Inc. and 11 Trading Company, LLC, responsible for distributing renowned audio brands in the Americas. The company anticipates robust growth with new product launches and broader distribution channels.
EyeLock LLC announced the global availability of its new nano iXT iris recognition reader, which is now in full production. This product is the first to emerge from its partnership with CMITech. Amid the COVID-19 pandemic, demand for touchless biometric solutions has surged, positioning the nano iXT as a suitable alternative to facial recognition systems hampered by masks. The nano iXT features a large LCD touchscreen, dual cameras, and multi-language support while being competitively priced. EyeLock's technology, recognized for its security and accuracy, serves various sectors including medical and automotive.
VOXX International Corporation (NASDAQ: VOXX) expands its alliance with Onkyo and Pioneer Corporation to enhance its product offerings in the Americas. Newly formed subsidiary, 11 Trading Company, LLC, will distribute Onkyo, Pioneer, Pioneer Elite, and Integra brands, alongside Klipsch products in Japan. This partnership aims to tap into the growing demand for premium audio solutions, leveraging past successful collaborations. VOXX expects strong growth in its premium audio segment due to this strategic expansion.
VOXX International Corporation (NASDAQ: VOXX) reported a net sales decline to $72 million for Q1 Fiscal 2021, down $21.5 million year-over-year, heavily impacted by the COVID-19 pandemic. Automotive Electronics sales fell to $17.3 million from $29.6 million. Despite challenges, there were sales increases in premium mobility and Bluetooth speakers. An $11 million acquisition is expected to generate $50 million in annualized sales. Operating losses increased to $7.9 million, primarily due to lower income. However, strong June sales showed over 30% growth year-over-year, indicating recovery potential.
VOXX International Corporation (NASDAQ: VOXX) will report its fiscal 2021 Q1 results, ending May 31, 2020, on July 10, 2020, after market close. A conference call will be held on July 13, 2020, at 10 a.m. Eastern. The company specializes in automotive and consumer technologies, with a portfolio of around 35 trusted brands, leading in various market segments including in-vehicle entertainment and automotive security. The press release includes a forward-looking statement regarding potential risks affecting future performance, particularly due to the COVID-19 pandemic.
VOXX International reported its Fiscal 2020 results, with net sales of $394.9 million, a decline from $446.8 million in Fiscal 2019 due to drops in Automotive Electronics and Consumer Electronics segments. Automotive net sales fell by approximately $47 million largely due to OEM plant delays. Despite this, premium audio sales increased by $12.3 million. The gross margin improved to 27.8%, influenced by better Consumer Electronics performance. The company reported a net loss of $26.4 million, with a focus on strategic plans and new automotive awards totaling $375 million. A slow start in Fiscal 2021 is anticipated due to COVID-19.
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