VOXX Earnings Reports

VOXX International Corporation reported a net income of $2.4 million for the second quarter of fiscal year 2025, compared to a net loss of $11.1 million in the same quarter last year. The company has focused on restructuring, reducing debt by over $50 million since year-end, and exploring strategic alternatives to maximize shareholder value.

VOXX International Corporation reported a decrease in net sales by 18.1% to $91.7 million, but gross margins improved by 310 basis points. The company experienced an operating loss of $7.1 million, which is an improvement from the previous year's $11.4 million loss. Restructuring programs were implemented to streamline sales, lower costs, and improve working capital needs.

VOXX International Corporation reported a decrease in net sales for the fourth quarter of fiscal 2024, with a decline in both Automotive Electronics and Consumer Electronics segments. The company faced a significant operating loss due to increased inventory provisions and intangible asset impairment charges. Despite cost-saving initiatives, the company's financial performance was negatively impacted by market conditions and specific business challenges.

VOXX International Corporation reported a decrease in net sales for the second quarter of Fiscal Year 2024, with a total of $113.6 million compared to $125.7 million in the previous year. However, the company saw improvements in gross margin, which increased to 25.2% from 23.3%, and a reduction in operating expenses. The operating loss improved to $8.5 million from $10.0 million year-over-year. The company expects to generate year-over-year growth and profitability in the second half of the fiscal year.

VOXX International Corporation reported a decrease in net sales for the first quarter of fiscal year 2024, primarily due to a weak global economy affecting consumer spending and customer production inconsistencies. The company is realigning operations and reducing workforce to improve profitability amidst anticipated continued global softness.

VOXX International Corporation reported a decrease in net sales for the fourth quarter of fiscal 2023, with a net loss attributable to VOXX International Corporation of $19.3 million, compared to a net income of $2.8 million in the same period of fiscal 2022. The decline in sales was primarily due to lower sales in the Consumer Electronics segment. The company is implementing cost reduction measures and anticipates improved performance in the Automotive and Biometrics segments.

VOXX International Corporation reported a decrease in net sales by 12.2% to $125.7 million compared to the same quarter last year, with an operating loss of $10.0 million compared to an operating loss of $2.7 million in the prior year. The decline was attributed to persistent supply chain issues, inflationary pressures, and a decrease in discretionary spending. The company anticipates a stronger second half of the year and a return to profitability.

VOXX International Corporation reported a slight increase in net sales for the fourth quarter of fiscal year 2022, despite facing challenges related to global supply chain disruptions and chip shortages. The company's net sales increased by 0.8% compared to the same period last year. The company is optimistic about future growth due to recent OEM business acquisitions.

VOXX International Corporation reported a decrease in net sales for the third quarter of fiscal year 2022, primarily due to global supply chain shortages and temporary production halts by OEM customers. The company saw growth in OEM product sales and completed the Onkyo Home Entertainment acquisition during the quarter.

VOXX International Corporation reported net sales of $143.1 million for the second quarter of fiscal 2022, an 11.8% increase compared to the same period last year. The company reported a net income attributable to VOXX International Corporation of $0.3 million, compared to $7.3 million in the comparable period of fiscal 2021.

VOXX International Corporation reported a significant increase in net sales for Q1 2022, with all business segments showing year-over-year growth. The company also achieved positive net income and Adjusted EBITDA, marking improvements compared to the losses experienced in the same quarter of the previous year.

VOXX International Corporation reported a strong fourth quarter and fiscal year, marked by significant increases in net sales, gross profit, operating and net income, and both EBITDA and Adjusted EBITDA when comparing the fiscal fourth quarter periods. The company's balance sheet remains strong, with a substantial increase in cash position year-over-year.

VOXX International Corporation reported a strong third quarter for fiscal year 2021, with net sales increasing by approximately 83% year-over-year. All segments reported higher sales and improved bottom-line performance, leading to a substantial increase in net income and adjusted EBITDA.

VOXX International Corporation reported a strong second quarter with a 42% increase in revenue year-over-year, reaching $128.0 million. The company also saw a significant improvement in operating income, which rose to $8.7 million, a $16.4 million year-over-year increase. Adjusted EBITDA was $13.9 million, a $14.8 million year-over-year improvement.

VOXX International Corporation reported a decrease in net sales for the first quarter of fiscal year 2021, primarily due to the COVID-19 pandemic's impact on the Automotive Electronics and Consumer Electronics segments. However, June sales increased over 30% year-over-year, and the company anticipates higher sales in July and August.

VOXX International Corporation reported a decrease in net sales for the fourth quarter of Fiscal 2020, primarily driven by a reduction in Automotive Electronics segment sales. However, the gross margin increased due to improved performance in the Consumer Electronics segment. The company reported an operating loss due to non-cash impairment charges, but Adjusted EBITDA showed improvement compared to the previous year.

VOXX International reported net sales of $110.1 million, a decrease compared to the previous year, with operating income of $0.1 million and net income of $2.5 million. The company's premium audio business grew, but the automotive electronics segment faced challenges. New OEM programs are expected to drive future growth.