Audiovox Electronics Corporation Announces Ruling in Litigation With MPEG LA

HAUPPAUGE, N.Y., Dec. 15, 2011 /PRNewswire/ -- Audiovox Electronics Corporation ("AEC" "The Company"), a wholly owned subsidiary of VOXX International Corporation (NASDAQ: VOXX) today announced a decision in the patent licensing litigation pending in the Suffolk County Supreme Court in Riverhead, New York. 

The jury found in favor of Audiovox Electronics Corporation ruling that AEC was not responsible for the period September 1, 2000 to September 30, 2006. The Company will make payments to MPEG LA for the period October 2006 – September 2009 and expects to be reimbursed by its suppliers for these payments. 

Patrick Lavelle, VOXX International's President & Chief Executive Officer stated, "Our Company respects intellectual property rights and stands by our agreements with our partners. We have and continue to take aggressive steps to protect our own intellectual property and will vigorously defend our position when we believe we are correct. The jury verdict in this case has confirmed our position."

About VOXX International Corporation

VOXX International Corporation (NASDAQ:VOXX) is the new name for Audiovox Corporation, a company that was formed over 45 years ago as Audiovox that has grown into a worldwide leader in many automotive and consumer electronics and accessories categories, and now into premium high-end audio.  Through its wholly owned subsidiaries, VOXX International proudly is recognized as the #1 premium loudspeaker company in the world, and has #1 market positions in automotive video entertainment and remote starts and TV remote controls and reception products.  The Company's brands also hold leading market positions across a wide-spectrum of consumer and automotive segments.

Today, VOXX International is a global company….with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and most of the world's leading automotive manufacturers.   The company has an international footprint in Europe, Asia, Mexico and South America, and a growing portfolio, which is now comprised of over 30 trusted brands. Among the key domestic brands include Klipsch®, RCA®, Invision®, Jensen®, Audiovox®, Terk®, Acoustic Research®, Advent®, Code Alarm®, CarLink®, Omega®, Excalibur®, Prestige®, and SURFACE.  International brands include Klipsch®, Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Oehlbach® and Incaar™.  The Company continues to drive innovation throughout all of its subsidiaries, and maintains its commitment to exceeding the needs of the consumers it serves.  For additional information, please visit our Web site at www.voxxintl.com.

Safe Harbor Statement

Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the mobile and consumer electronics businesses as well as the accessories  business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against VOXX International Corporation and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended February 28, 2011.

Company Contact
Glenn Wiener
GW Communications
Tel: 212-786-6011
Email: [email protected]

SOURCE VOXX International Corporation