VOXX International Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended November 30, 2021
January 10, 2022 at 04:22 pm EST
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VOXX International Corporation reported earnings results for the third quarter and nine months ended November 30, 2021. For the third quarter, the company reported sales was USD 191.87 million compared to USD 201.07 million a year ago. Net loss was USD 28.12 million compared to net income of USD 18.25 million a year ago. Basic loss per share from continuing operations was USD 1.16 compared to basic earnings per share from continuing operations of USD 0.75 a year ago. Diluted loss per share from continuing operations was USD 1.16 compared to diluted earnings per share from continuing operations of USD 0.74 a year ago.
For the nine months, sales was USD 472.04 million compared to USD 401.08 million a year ago. Net loss was USD 25.09 million compared to net income of USD 17.32 million a year ago. Basic loss per share from continuing operations was USD 1.03 compared to basic earnings per share from continuing operations of USD 0.72 a year ago. Diluted loss per share from continuing operations was USD 1.03 compared to diluted earnings per share from continuing operations of USD 0.71 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.