Audiovox (VOXX): Voxx International +18% after earning sh...

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Re: akamaii post# 67

Wednesday, 10/14/2020 9:51:17 AM

Wednesday, October 14, 2020 9:51:17 AM

Voxx International +18% after earning shine to hit six-year high

Oct. 14, 2020 8:59 AM ETVOXX International Corporation (VOXX)By: Clark Schultz, SA News Editor
Voxx International (NASDAQ:VOXX) shoots higher after turning to a profit in FQ2.
"We had a strong second quarter, both in terms of sales and profitability and our outlook looks promising. Premium audio product sales are growing and should increase significantly with expanded distribution, our new alliance with Onkyo and Pioneer, and new products coming to market," says CEO Pat Lavelle.
Revenue was up 41.9%, led by a 50.7% jump in the consumer electronics segment.
Voxx ended the quarter with cash of $45.9M vs. $37.4M a year ago.
Shares of Voxx are up 18.29% in premarket action to $10.22. It is the first time in almost six years that Voxx has traded in double digits.