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.
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.
VOXX International Corporation (NASDAQ: VOXX) reported strong financial results for the fourth quarter and fiscal year 2021. Net sales for Q4 reached $162.5 million, up 60.8% year-over-year, driven by growth in both Automotive and Consumer Electronics segments. Fiscal 2021 net sales totaled $563.6 million, a 42.7% increase compared to the previous year. The company achieved net income of $26.8 million, a significant turnaround from a net loss of $26.4 million in FY 2020. Despite a slight decrease in gross margin, VOXX anticipates robust growth and improved EBITDA in the upcoming fiscal year, bolstered by recent acquisitions and strategic partnerships.
VOXX International Corporation (NASDAQ: VOXX) announces a four-year exclusive distribution agreement with GalvanEyes LLC, managed by its largest shareholder, Beat Kahli. GalvanEyes will distribute EyeLock products in the EU, Puerto Rico, Malaysia, Singapore, and select U.S. government agencies. The deal includes a $10 million payment and an annual fee up to $5 million, with a unique put/call option affecting 20% equity interest in EyeLock. CEO Pat Lavelle highlights the strategic partnership as a means to reduce cash burn and enhance market reach for EyeLock's technology.
VOXX International Corporation (NASDAQ: VOXX) has signed a Letter of Intent to acquire the Home A/V business of Onkyo Home Entertainment Corporation, partnering with Sharp Corporation. The companies aim to finalize a Definitive Agreement by May 20, 2021, for presentation to Onkyo's shareholders on June 25, 2021. VOXX previously expanded its partnership with Onkyo in July 2020 and has a long-standing manufacturing relationship with Sharp. CEO Pat Lavelle expressed optimism about leveraging Onkyo's strong brands and VOXX's distribution capabilities for growth.
VOXX International Corporation (NASDAQ: VOXX) will announce its fiscal 2021 fourth quarter and year-end results on May 13, 2021, after market close. A conference call is set for the same day at 5 p.m. Eastern, allowing investors and analysts to discuss the results. VOXX has established itself as a leader in automotive and consumer electronics, with a diverse portfolio and extensive distribution network. The company is also actively addressing the impact of COVID-19 on operations and navigating various market risks.
EyeLock LLC, a subsidiary of VOXX International Corporation (NASDAQ: VOXX), has secured a significant contract to manage access control for four data center facilities in Egypt's New Capital City. The contract highlights EyeLock's Portable Template solution, which offers a secure, contactless iris biometric authentication system, protecting users' personal data. This technology solves privacy concerns by eliminating the need for biometric databases, aligning with global data regulations. EyeLock aims to enhance security for large user groups while maintaining privacy standards.
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