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Home >> Voxx Highlights U.S. Distribution Wins
HAUPPAUGE, N.Y. – Recent U.S. distribution wins by Voxx International include the placement of Jamo speakers in Best Buy’s Magnolia Home Theater Stores, giving Jamo its first national exposure, Voxx president/CEO Patrick Lavelle said during an investors’ conference call last Thursday.
Jamo is marketed by Voxx’s Klipsch Group, whose sales rose 18 percent in the company’s second fiscal quarter ending August, primarily because of headphones, soundbars and 5.1 surround systems, Lavelle said. The group has the top-selling in-ear headphone at Apple stores, he noted, and a new in-ear line will be available for the holidays.
In other distribution gains, Voxx expects to roll out its Car Connection vehicle-tracking device later in the third quarter through Sears and Pep Boys. Car Connection is a plug-in On-Board Diagnostic (OBDII) device that lets consumers locate their vehicle, monitor vehicle speed, detect reckless driving habits, and determine whether a vehicle leaves a prescribed area. It also lets users monitor vehicle performance and maintenance needs.
The company also launched Acoustic Research wireless speakers through The Home Depot and personal sound system amplifiers through 1,200 CVS locations, Lavelle said.
A portable wireless speaker with customizable cover from Skinit will be available this quarter through Lowe’s, Best Buy and RadioShack.
In other matters, Lavelle said the company has begun shipping its Blu-ray player for in-car installation.
He also said he expects the aftermarket version of its in-car Dyle TV mobile DTV tuner will probably cost less than $500, excluding the other components in a rear-seat entertainment system, when it becomes available next tear. Shipments are scheduled for next May. After that, the company can “move quickly” to bring it to its OEM automaker customers if they adopt it, Lavelle said.
The company’s aftermarket mobile electronics business in the U.S. fell slightly in the second quarter, but sales will improve as it rolls out its locationbased products and services, which include Care Connection. That’s a wearable personal tracking system with two-way voice communication for young kids and aging parents.
The company also said it will limit merger and acquisitions activities in the “near term.”
Lavelle also noted that the company has undergone “a rebirth in the past few years” from an importing/distribution company to one that now gets a third of its business from products that it manufactures, including audio systems for automakers.
The conference call came a day after Voxx reported its fiscal second quarter results. Net sales for the fiscal 2013 second quarter were $191.7 million, an increase of 21.1 percent compared with the year ago period.
Net income for the quarter was $3.7 million as compared with net income of $3.4 million the prior year. Operating income of $6.8 million for the quarter compares with operating income of $7.7 million in the comparable year-ago period.
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