VOXX International Corporation - VOXX STOCK NEWS

Premium Audio Company, LLC, a subsidiary of VOXX International Corporation (NASDAQ: VOXX), responded to media reports about Onkyo Home Entertainment Corporation's (OHE) bankruptcy filed on May 13, 2022. The bankruptcy does not affect assets previously acquired by PAC and Sharp in September 2021, which include the Onkyo and Integra brands. Since the acquisition, PAC has experienced significant growth, with revenue from its 11 Trading Company reaching $59.4 million in Fiscal 2022, up from $13.7 million in Fiscal 2021. Demand for Onkyo products is expected to increase further.

VOXX International Corporation (NASDAQ: VOXX) will release its Fiscal 2022 fourth quarter and year-end results on May 16, 2022, after market close. A conference call and webcast to discuss these results will take place on May 17, 2022, at 10:00 a.m. Eastern. VOXX is recognized for its innovative automotive and consumer technologies and holds a strong market presence with about 35 trusted brands. The company emphasizes its robust distribution network and commitment to technological advancements in automotive electronics and biometrics.

On March 21, 2022, EyeLock LLC, a subsidiary of VOXX International, announced the launch of NanoAccess™, a pioneering biometric-centric access control system. This innovative solution allows users to securely utilize smartphones and smartwatches instead of traditional access cards. The system offers a complete, web-based solution that adheres to stringent PII and GDPR requirements. EyeLock aims to redefine its market position with this offering, strengthening its role as a comprehensive biometric solutions provider. The product will be showcased at ISC West 2022 in Las Vegas from March 22-25.

On March 17, 2022, EyeLock LLC, a subsidiary of VOXX, announced its entry into the facial biometric market with the launch of NanoFace™. This solution offers high accuracy and rapid authentication in under one second, extending the company's biometric capabilities beyond iris recognition. With a compact design and integration into major access control systems, NanoFace meets client demands for speed, accuracy, and affordability. EyeLock aims to capture growth opportunities as the demand for multi-modal biometric solutions rises.

On February 15, 2022, Beat Kahli, through Avalon Park Group, became the largest shareholder of VOXX International by acquiring 5,000,000 Class A shares, representing 23.32% of total outstanding shares. This strategic move aims to diversify from real estate investments, as Kahli sees hidden value in VOXX's assets and brands. He expressed intentions to further increase stake in VOXX and highlighted the company's potential growth in the biometric sector and audio markets, despite a recent adverse arbitration ruling that may impact equity.

VOXX International Corporation (NASDAQ: VOXX) announced its involvement in The Microcap Rodeo's 2nd Annual Winter Wonderland Best Ideas Investor Conference, scheduled for February 8-11, 2022. CEO Pat Lavelle will present on February 9 at 3:00 p.m. ET, and the session will be streamed live on the company's investor website. Additionally, VOXX management will hold one-on-one investor meetings on February 10 and 11. VOXX International is a prominent player in automotive and consumer electronics, featuring a portfolio of around 35 brands catering to various market segments.

VOXX International Corporation (NASDAQ: VOXX) will present at the Sidoti & Company Virtual Small Cap Conference on January 20, 2022, at 1:00 p.m. ET. The presentation can be accessed through the investor website. In addition, VOXX management will hold one-on-one meetings with investors on both conference days. Interested participants can register for the event via the Sidoti website. VOXX continues to lead in Automotive and Consumer Technologies, focusing on innovation and expanding its market presence.

VOXX International Corporation (NASDAQ: VOXX) reported third-quarter financial results for Fiscal 2022, with net sales of $191.9 million, a 4.6% decline from $201.1 million in the previous year. However, year-to-date sales surged 17.7% to $472 million. Key growth drivers included a $125 million award from Stellantis and a strong performance in Automotive Electronics, which saw a 34.7% increase in sales year-to-date. Despite the sales growth, the company faced challenges with gross margin, down to 26.9% from 28.9% due to global supply chain constraints.