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Voxx Posts Higher Q4 Sales, Lower Profits

5/21/2012 12:01:00 AM Eastern

HAUPPAUGE, N.Y. – Voxx International reported
higher sales but lower net income for
its fiscal fourth quarter, ended Feb. 28.

Fourth-quarter sales rose 27.1 percent to
$176.6 million, with operating income rising
182 percent to $13.8 million. Fourth-quarter
net income fell 37.4 percent to $10.9 million
from the year-ago $17.4 million.

However in its fiscal 2012 Voxx said sales
rose 25.9 percent to $701.1 million, operating
income rose 387 percent to $43.9 million,
and net income rose 11.4 percent to
$25.6 million.

In fiscal 2012, Voxx said it posted continued
growth in its mobile electronics OEM business
and that Klipsch Group sales rose and
met projections. Klipsch generated around
$169.5 million in fiscal year sales, up by an
unspecified amount. Klipsch was acquired on
March 1, 2011.

In breaking out fourth-quarter sales, Voxx
said electronics sales rose 32.3 percent to
$136 million and accessory sales rose 12.5
percent to $40.6 million.

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