VOXX International Corporation Reports Its Fiscal 2020 First Quarter Financial Results
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VOXX Int'l (VOXX) Misses Q1 EPS by 5c, Revenues Miss
July 10, 2019 5:05 PM EDTVOXX Int'l (NASDAQ: VOXX) reported Q1 EPS of ($0.05), $0.05 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $93.5 million versus the consensus estimate of $129.64 million.
Pat Lavelle, President and Chief Executive Officer of VOXX International stated, "Our Fiscal 2020 first quarter materialized mostly as planned, with the key exception being the Automotive market, as the decline in global car sales has impacted our Automotive Electronics segment. On the other hand, Consumer Electronics segment sales grew by 4.5% and gross margins improved by 130-basis points. Demand for new products introduced last fiscal year, coupled... More
