Audiovox Makes Comeback With Strong 2nd Qtr.

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Audiovox continued to make fiscal 2000 a comeback year by turning in a strong second-quarter earnings performance on record sales.

For the three months to May 31 the mobile communications and entertainment product specialist showed a net of $6.45 million, against a year-earlier loss of $4.7 million, while sales jumped 82.8% to $242.1 million.

For its fiscal first half Audiovox had a net of $9.44 million, as opposed to last year's loss of $3.06 million. Sales, at $452.3 million, were up 78.5%.

Both the communications and electronics operations contributed to the revenue growth, which was led by cellular phone sales, said chairman John Shalam. Earnings for both periods, he said, got a $2.32 million lift from the purchase of a 5% stake in Audiovox Communications by Toshiba.

In communications, sales of CDMA digital models accounted for 75% of unit volume, which included the shipment of nearly 30,000 of the slim CDM 4000 model introduced in May. Pending the finalization of tests, Audiovox's first TDMA phone is slated for third-quarter availability.

On the electronics front, Audiovox said total sales were up 19% in the quarter, with particular strength shown by mobile video consoles.


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