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Voxx Intl Corp - VOXX STOCK NEWS

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.

Overview

VOXX International Corporation (NASDAQ: VOXX) is a globally recognized manufacturer and distributor operating in the automotive electronics, consumer electronics, and emerging biometric solutions industries. With a heritage that dates back over 45 years from its beginnings as Audiovox, the company has evolved into a dynamic organization known for its premium audio solutions and innovative technology. By offering finished consumer products and automotive electronic components, VOXX fulfills the needs of diverse customers including retail, commercial entities, and original equipment manufacturers (OEMs) around the world. Keywords such as automotive electronics, consumer electronics, and premium audio underscore its core business areas.

History and Brand Portfolio

The transformation from Audiovox to VOXX International Corporation represents a remarkable evolution fueled by decades of expertise in audio technology and electronics. Today, the company’s growing portfolio includes more than 30 trusted brands, each with a legacy of quality and reliability. Iconic names like Klipsch®, RCA®, and Acoustic Research® contribute to its market-leading positions in both consumer and automotive segments. This rich assemblage of brands not only reflects a commitment to quality but also an ongoing effort to innovate and exceed consumer expectations in every product category.

Global Distribution and Market Presence

VOXX’s extensive global footprint is supported by a robust distribution network that spans North America, Europe, Asia, Mexico, and South America. The company’s products are widely available through power retailers, mass merchandisers, and specialized automotive networks. This worldwide presence reinforces its role as both an automotive and consumer electronics partner, delivering state-of-the-art solutions to a diverse customer base that includes Fortune 500 companies. The strategic distribution model ensures that VOXX maintains a strong connection with market trends and customer needs across various geographic regions.

Business Segments and Solutions

VOXX International operates across a spectrum of business segments, each designed to meet distinct market demands. In the automotive electronics segment, the company focuses on in-vehicle entertainment systems, automotive security, and reception products that align with the precision required by OEMs and aftermarket clients. Meanwhile, its consumer electronics segment delivers premium audio and related products that cater to home and professional environments. Additionally, the company is expanding its expertise within the emerging biometrics field, positioning itself to address evolving security concerns with advanced technological solutions.

Innovation and Technological Expertise

Innovation lies at the heart of VOXX’s approach to business. The company continuously drives product innovation and quality improvements through extensive research and development initiatives. This commitment to innovation is evident in its adoption of cutting-edge audio engineering principles that allow its premium audio brands to deliver outstanding clarity and performance. By integrating advanced technology with robust design, VOXX not only sustains its leadership in traditional market segments but also pioneers new applications in biometric security and in-vehicle entertainment systems.

Commitment to Quality and Trusted Partnerships

The strength of VOXX International is deeply rooted in its emphasis on quality, reliability, and trusted partnerships. The company works closely with leading automotive manufacturers, retail partners, and technology providers to ensure that every product meets stringent performance standards. This alignment with top-tier partners reinforces its reputation as a reliable supplier in both consumer and automotive markets. Furthermore, VOXX’s adherence to high-quality manufacturing standards and a commitment to continuous improvement demonstrate its dedication to meeting and exceeding customer expectations in an increasingly competitive market.

Operational Excellence and Market Adaptation

Despite the challenges typical of a competitive global market, VOXX has continually adapted its operational strategies to enhance efficiency and bolster profitability. Through a combination of restructuring programs, cost optimization initiatives, and strategic asset monetization, the company has refined its processes and sharpened its focus on its core product lines. This disciplined approach to operational management not only safeguards its market position but also reinforces its capacity to innovate under varying market conditions.

Insights for Investors and Industry Analysts

For investors and financial analysts, VOXX International represents a case study in the strategic management of a diversified electronics business. With a comprehensive product portfolio, a resilient global distribution network, and a commitment to technological advancement, the company offers a clear view into how traditional brands can evolve in a fast-changing technological landscape. The detailed structure of its business model serves as a framework for understanding market dynamics in both automotive and consumer electronics sectors and highlights the integral role of innovation in maintaining competitiveness over time.

In summary, VOXX International Corporation stands as a multifaceted organization that effectively combines a rich legacy, a broad brand portfolio, and a forward-thinking approach to technology. Its significant presence in automotive and consumer electronics, underpinned by premium audio and emerging biometric solutions, makes it a compelling subject of study for anyone seeking to understand the interplay between innovation, market adaptation, and operational excellence.

Rhea-AI Summary

VOXX International (NASDAQ: VOXX), a leading manufacturer of automotive and consumer technologies, has announced that its board of directors is exploring strategic alternatives to maximize shareholder value. The board will consider various options, including a potential sale of the company, sale of segments, operational improvements, or other strategic transactions.

To support this process, VOXX has established a strategic transactions committee and retained Solomon Partners as financial advisor and Bryan Cave Leighton Paisner LLP as legal advisor. The company has not set a timetable for completion and will only disclose further developments if necessary. VOXX International has grown into a worldwide leader in the Automotive Electronics and Consumer Electronics industries, with a portfolio of approximately 30 trusted brands.

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VOXX International (NASDAQ: VOXX) announced significant changes to its Board of Directors. Ari M. Shalam has been unanimously elected as the new Chairman of the Board, succeeding his father, John J. Shalam, who becomes Chairman Emeritus after nearly 65 years since founding the company. Beat Kahli remains as Vice Chairman.

Ari Shalam expressed his commitment to transforming the company, restructuring operations, and improving financial positions. He highlighted the recent sale of domestic accessories assets as part of this effort. Despite challenging global markets, he expressed confidence in returning VOXX to profitability.

VOXX International is a leader in Automotive Electronics and Consumer Electronics industries, with a portfolio of approximately 35 trusted brands and an extensive global distribution network.

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VOXX International (NASDAQ: VOXX) has announced the sale of certain assets of its Domestic Accessories Group to Established, Inc. for approximately $25 million. The deal includes the iconic RCA® trademarks and other intellectual property. VOXX will continue to operate as VOXX Accessories Corp. (VAC) to ensure business continuity. The transaction, expected to close by August 30, 2024, aligns with VOXX's strategy of monetizing assets, realigning the organization, and paying down debt. CEO Pat Lavelle stated that this move will strengthen the company's financial position while maintaining strong global brands and distribution.

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VOXX International (NASDAQ: VOXX) announced its fiscal 2025 first-quarter financial results, highlighting a net sales decline of 18.1% to $91.7 million compared to the previous year.

Despite the sales drop, gross margins improved by 310 basis points to 27.7%. Operating expenses were reduced by 16.6% to $32.5 million, contributing to an adjusted EBITDA loss improvement to $2.9 million, a $2.1 million improvement from the previous year.

The net loss attributable to VOXX was $9.3 million, down from $10.7 million the previous year. The company highlighted aggressive cost-cutting measures and restructuring programs as steps to return to profitability, expecting these changes to positively impact the fiscal year.

The Automotive Electronics segment saw a sales decline of 27.9% while the Consumer Electronics segment decreased by 12.8%. However, gross margins for both segments improved. VOXX ended the quarter with $4.2 million in cash and reduced its total debt to $68.6 million.

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VOXX International (NASDAQ: VOXX) will announce its Fiscal 2025 first quarter results on July 10, 2024, after market close. A conference call and webcast to discuss the results will follow on July 11, 2024, at 10:00 a.m. Eastern. The company urges participants to register in advance. The webcast replay will be available two hours post-call and archived on VOXX’s Investor Relations website. VOXX specializes in Automotive and Consumer Electronics with a global reach.

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VOXX International (NASDAQ: VOXX) reported its Fiscal 2024 fourth quarter and year-end financial results, revealing significant declines in net sales and gross margins across its segments.

The company witnessed a 20.8% drop in Q4 net sales to $108.1 million and a 12.2% annual decrease to $468.9 million. Gross margins fell from 25.4% to 19.9% in Q4. The Automotive Electronics segment saw a substantial decline in sales and margins, driven by lower rear-seat entertainment product sales and higher inventory provisions.

Despite cost-cutting measures, VOXX reported a Q4 net loss of $21.0 million, up from $18.1 million YoY, and a full-year net loss of $40.9 million compared to $27.5 million in Fiscal 2023. Higher operating expenses, including intangible asset impairments, and increased debt levels, further strained their financials.

The company has new products and automotive programs lined up for the latter half of 2024, aiming to improve profitability and margin management.

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VOXX International (NASDAQ: VOXX) will report its Fiscal 2024 fourth quarter and year-end results on May 14, 2024, and host a conference call on May 15, 2024. The company is a leading manufacturer of automotive and consumer technologies globally, with a focus on in-vehicle entertainment, automotive security, and premium audio segments.

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VOXX International Corporation announces a joint venture agreement between its subsidiary, EyeLock LLC, and GalvanEyes Partners LLC to form BioCenturion, LLC. The new entity aims to strengthen operations by combining technology, R&D, sales, marketing, and business development, with GalvanEyes managing day-to-day operations. The agreement includes preferential distribution rights for capital events, with EyeLock retaining liability of a $70 million note due to VOXX. Executive changes see Beat Kahli stepping down as President of VOXX and assuming the role of Chairman and CEO of BioCenturion, while Loriann Shelton becomes VOXX's Chief Financial Officer.
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VOXX Electronics Corporation (VEC) announces the launch of Rosen's new line, LeatherCraft™, a premium vehicle leather seating for new and pre-owned vehicles. The introduction of the LeatherCraft™ line features craftsmanship excellence, premium leather selection, and customization options. The company aims to meet the evolving needs of consumers as the automotive industry rebounds, providing more choices and profit opportunities for dealers and customers.
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VOXX International Corporation (NASDAQ: VOXX) announced its financial results for Fiscal 2024 third quarter. Despite lower sales, the company reported improved gross margins and operating expenses. The market challenges and UAW strike impacted the Automotive business. Net sales decreased by 5.4% year-over-year, but increased by 19.0% sequentially. The company expects near-term softness but anticipates improvement in 2024 and Fiscal 2025.
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FAQ

What is the current stock price of Voxx Intl (VOXX)?

The current stock price of Voxx Intl (VOXX) is $7.5 as of April 1, 2025.

What is the market cap of Voxx Intl (VOXX)?

The market cap of Voxx Intl (VOXX) is approximately 169.1M.

What are the primary business segments of VOXX International Corporation?

VOXX operates primarily in the automotive electronics, consumer premium audio, and emerging biometrics sectors. The company caters to both OEM and aftermarket markets while serving retail and commercial customers with its diverse product portfolio.

How did VOXX International evolve from its original business model?

Originally founded as Audiovox over 45 years ago, VOXX International has transitioned from basic audio products to becoming a global leader in advanced automotive and consumer electronic solutions. This evolution reflects decades of innovation and strategic brand development.

What brands are included in VOXX International's portfolio?

VOXX’s portfolio includes over 30 trusted brands such as Klipsch®, RCA®, Acoustic Research®, and several others. These brands have established strong market positions in various segments, especially in premium audio and in-vehicle entertainment.

How does VOXX International distribute its products globally?

The company leverages an extensive global distribution network that spans North America, Europe, Asia, Mexico, and South America. Its products reach key markets through partnerships with Fortune 500 companies, mass merchandisers, and specialized distribution channels.

What role does innovation play in VOXX International’s operations?

Innovation is central to VOXX’s strategy, with ongoing research and development efforts aimed at improving product performance and integrating the latest technological advancements. This focus has allowed the company to consistently deliver premium audio and advanced electronic solutions.

In what ways does VOXX serve the automotive market?

VOXX serves the automotive sector by providing integrated electronic solutions for in-vehicle entertainment and security. It manufactures components that are used both by original equipment manufacturers and in the aftermarket to enhance automotive safety and connectivity.

How does VOXX International ensure product quality and customer satisfaction?

The company maintains strict quality control processes and collaborates with top-tier partners and manufacturers. This commitment to excellence ensures that every product meets rigorous performance standards and exceeds customer expectations.

What makes VOXX International a reliable partner in the global electronics market?

VOXX’s extensive experience, diversified product range, and robust global distribution network contribute to its reputation as a reliable partner. Its ongoing efforts in innovation, quality assurance, and operational excellence further solidify its position in the competitive landscape.
Voxx Intl Corp

Nasdaq:VOXX

VOXX Rankings

VOXX Stock Data

169.11M
6.88M
66.06%
66.74%
1.61%
Consumer Electronics
Wholesale-electronic Parts & Equipment, Nec
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United States
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