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 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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