NEW YORK, July 16, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on VOXX International Corporation (NASDAQ: VOXX). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=VOXX
Highlights from our VOXX Report include:
- Total Sales Impacted by Foreign Exchange and Divestures -- On July 9, 2015, VOXX International Corporation (VOXX International) reported its financial results for the Q1 FY 2016 ended May 31, 2015. Total net sales of worldwide leader in many automotive and consumer electronics and accessories categories, stood at $164.4 million compared to $187.0 million in the corresponding prior year period. The Company highlighted that the majority of the decline was attributed to foreign exchange as the EUR conversion accounted for $14.0 million.
- Segmental Performance -- During Q1, sales at its automotive segment was reported at $90.0 million compared to $102.4 million in Q1 FY 2015. The Y-o-Y decline in segmental performance was majorly related to EUR impact as mentioned earlier. Furthermore, its Premium Audio segment contributed $29.3 million in topline versus $35.2 million in the corresponding prior year period. Lastly sales at its Consumer Accessories segment came in at $44.7 million compared with $49.1 million in Q1 FY 2015.
- Improved Margins -- During the reported quarter, the Company's gross profits came in at $48.0 million versus $53.1 million in Q1 FY 2015. Meanwhile, gross margin for Q1 FY 2016 came in at 29.2%, representing an increase of 80 basis points as compared to 28.4% for the same period last year.
- Operating Performance -- VoXX international informed that its operating expenses for the reported quarter reduced to $48.8 million from $53.5 million in the comparable year-ago period. During Q1 FY 2016, the Company reported a net loss of $0.7 million or a loss of $0.03 per diluted share as compared to net income of $0.5 million or net income per diluted share of $0.02 in Q1 FY 2015. As per the release, VoXX international's EBITDA for reported period was $4.6 million as compared to EBITDA of $6.1 million reported in the Q1 FY 2015.
To find out how this influences our rating on VOXX International Corporation, read the full report in its entirety here: http://www.aciassociation.com/?c=VOXX
About ACI Association:
Active Charter Investors Association ("ACI Association") produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. ACI Association has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
ACI Association has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer"). Rohit Tuli, a CFA® charter holder (the "CFA®"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on sound investment judgment and publicly available information which is believed to be reliable. The Reviewer and the CFA® have not performed any independent investigations or forensic audits to validate the information herein. Unless otherwise noted, any content outside of this document has no association with the Author, the Reviewer, or the CFA® (collectively referred to as the "Production Team") in any way. The Production Team is compensated on a fixed monthly basis and do not hold any positions of interest in any of the securities mentioned herein.
ACI Association, the Author, the Reviewer and the CFA® (collectively referred to as the "Publishers") are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither ACI Association nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.aciassociation.com/.
ACI Association is not available to residents of Belarus, Cuba, Canada, Iran, North Korea, Sudan, Syria or Somalia. Do not send email to robottrap (at) aciassociation.com.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.