TITLE

Audiovox Returns To Profitability, Posting $3.8M Net Income In Qtr

AUTHOR(S)
Gilroy, Amy
PUB. DATE
January 2007
SOURCE
TWICE: This Week in Consumer Electronics;1/22/2007, Vol. 22 Issue 2, p46
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the financial performance of Audiovox for the third quarter ended November 30, 2006. The company reported slightly lower net sales of $151.8 million for the period, down 2.9 percent compared with $156.3 million for the period a year ago. Net income was $3.8 million compared with a net loss of $8.3 million in 2005. For the quarter, mobile electronics sales were down 4.9 percent due mainly to the company's exit of the video-in-a bag business. Gross margins 16.7 percent compared with 6.2 percent a year ago due to reduced freight costs, improved buying programs and inventory management.
ACCESSION #
23874508

 

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