VOXX International Corporation - VOXX STOCK NEWS

VOXX International Corporation (NASDAQ: VOXX) reported strong financial results for the first half of Fiscal 2022, with net sales of $280.2 million, a 40.1% increase year-over-year. Adjusted EBITDA rose to $14.6 million, up 26.8% from the previous year. The automotive electronics segment experienced significant growth, particularly in OEM product sales, which surged 70.5%. However, gross margins declined to 26.4% due to supply chain issues. Despite these challenges, the company anticipates 15% growth for the full fiscal year.

VOXX International Corporation (NASDAQ: VOXX) will report its Fiscal 2022 second-quarter results on October 12, 2021, after market close. The conference call for discussing these results is scheduled for October 13, 2021, at 10:00 a.m. Eastern. VOXX, a leader in automotive and consumer technologies, showcases innovative products and a robust distribution network. The announcement includes available contact details for participation in the conference call and webcast.

VOXX International Corporation (NASDAQ: VOXX) announced the successful acquisition of certain assets from Onkyo Home Entertainment Corporation by its subsidiary, Premium Audio Company, LLC, and Sharp Corporation. The transaction, valued at $30.8 million, was finalized on September 8, 2021. VOXX aims to leverage strong demand for the new audio/video products, projecting annual sales of approximately $50 million for Fiscal 2022. The acquisition enhances VOXX's product offerings and distribution network, positioning the company for growth in the audio market.

VOXX International Corporation (NASDAQ: VOXX) announced that CEO Pat Lavelle will participate in a fireside chat with Tom Forte at the D.A. Davidson 20th Annual Software and Internet Conference on September 9, 2021, at 2:30 p.m. ET. The event will be available via live webcast and replay on the VOXX Investor Relations website. Additionally, management will conduct one-on-one investor meetings. VOXX is recognized for its leadership in automotive and consumer electronics, and is expanding into biometrics technology.

VOXX International Corporation (NASDAQ: VOXX) reported strong financial results for its Fiscal 2022 first quarter, ending May 31, 2021. Net sales reached $137.1 million, a 90.4% increase from $72.0 million in the previous year. Positive net income of $2.7 million contrasted sharply with a loss of $8.3 million in the same quarter last year. Adjusted EBITDA rose to $8.3 million, up from a loss of $3.2 million. The company anticipates ongoing growth despite supply chain challenges. Key developments include a planned acquisition of Onkyo's A/V business, contributing an estimated $50 million in sales this year.

VOXX International Corporation (NASDAQ: VOXX) will report its Fiscal 2022 Q1 results on July 12, 2021, after market close. A conference call and webcast to discuss the results will be held on July 13, 2021, at 10:00 a.m. Eastern. This leading manufacturer in automotive and consumer technologies has a broad portfolio, including automotive electronics and biometrics, serving a global market. Investors can follow the call via toll-free and international numbers or through the VOXX website for further updates.

VOXX International Corporation (NASDAQ: VOXX) announced a joint venture with Sharp Corporation to acquire certain assets of Onkyo Home Entertainment Corporation for $30.8 million. The acquisition, approved by Onkyo shareholders on June 25, 2021, will see Premium Audio Company, a subsidiary of VOXX, owning 75% of the JV while Sharp holds 25%. The JV will manage the brands and manufacturing rights of Onkyo and Integra, anticipating $50 million in sales during fiscal 2022. Finalization is expected by August 30, 2021.

VOXX International Corporation (NASDAQ: VOXX) announced a joint acquisition of Onkyo Home Entertainment Corp's audio/video business with Sharp Corporation for approximately $30.8 million. The deal, pending Onkyo's shareholder approval on June 25, 2021, will establish a joint venture owning Onkyo's assets, including intellectual property and manufacturing rights. Premium Audio Company, a VOXX subsidiary, will handle sales, while Sharp will manage manufacturing. CEO Pat Lavelle anticipates significant growth, stating that this acquisition is a crucial addition to the Premium Audio Company amidst strong demand for Onkyo products.

VOXX International Corporation (NASDAQ: VOXX) announced that its President and CEO, Pat Lavelle, will present at the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, at 2:40 p.m. ET. Interested parties can access the live webcast on the Company's investor relations website. Lavelle will also engage in virtual 1-on-1 meetings throughout the day. VOXX is a leader in automotive and consumer technologies, offering a portfolio of about 35 brands in automotive electronics, consumer electronics, and biometrics. For more information, visit www.voxxintl.com.