VOXX International Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 30, 2015
January 11, 2016 at 05:30 pm EST
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VOXX International Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended November 30, 2015. For the quarter, the company reported net sales of $192,506,000 against $223,356,000 a year ago. Operating income was $3,584,000 against $16,644,000 a year ago. Income before income taxes was $9,054,000 against $16,206,000 a year ago. Net income attributable to the company was $7,777,000 or $0.32 per basic and diluted share against $15,622,000 or $0.64 per basic and diluted share a year ago. EBITDA was $16,819,000 against $22,220,000 a year ago. Adjusted EBITDA was $13,139,000 or $0.54 per diluted share against $22,360,000 or $0.92 per diluted share a year ago.
For the nine months, the company reported net sales of $511,063,000 against $587,598,000 a year ago. Operating loss was $4,051,000 against operating income of $17,316,000 a year ago. Income before income taxes was $1,769,000 against $12,121,000 a year ago. Net income attributable to the company was $2,669,000 or $0.11 per basic and diluted share against $13,429,000 or $0.55 per basic and diluted share a year ago. EBITDA was $19,780,000 against $29,320,000 a year ago. Adjusted EBITDA was $22,797,000 or $0.94 per diluted share against $36,313,000 or $1.49 per diluted share a year ago.
VOXX International Corporation is an international manufacturer and distributor in the automotive electronics, consumer electronics, and biometrics industries. The Company operates through three segments: Automotive Electronics, Consumer Electronics and Biometrics. The Automotive Electronics segment designs, manufactures, distributes and markets rear-seat entertainment devices, remote start systems, automotive security products and devices, vehicle access systems, mobile interface modules, mobile multimedia devices, and others. Consumer Electronics segment designs, manufactures, distributes and markets home theater systems, A/V receivers, premium loudspeakers, outdoor speakers, business music systems, streaming music systems, cinema speakers, architectural speakers, wireless and Bluetooth speakers and soundbars. Its Biometrics segment designs, markets and distributes iris identification and biometric security related products. The Company has a portfolio of approximately 35 brands.