VOXX Int'l (VOXX) Reports Q3 EPS of $0.74, Revenues Beat

VOXX Int'l (NASDAQ: VOXX) reported Q3 EPS of $0.74, versus $0.10 reported last year. Revenue for the quarter came in at $201.07 million versus the consensus estimate of $142.5 million.

Commenting on the Company's results, Pat Lavelle, President and Chief Executive Officer of VOXX International Corporation stated, "We delivered a very strong third quarter with all segments reporting higher sales and improved bottom-line performance. Within Automotive, demand for our EVOLVE rear-seat entertainment system with Amazon's Fire TV continues to grow, with new OEM programs starting in our Fiscal 2022 second quarter, and the VSM and DEI acquisitions are fully integrated and performing well. Within Consumer, our premium audio product sales continue to increase significantly, as we have expanded our retail distribution, added key brands and enhanced our product offering. Further, the formation of 11 Trading Company is leading to new opportunities for us globally. Lastly, while the financial impact has yet to be felt, demand for EyeLock's iris authentication solutions has increased since the start of the pandemic, as are conversations with respect to the strategic process. We are on track for one of the best years in our Company's history from a profitability perspective and believe this is the beginning of the next wave of growth."

For earnings history and earnings-related data on VOXX Int'l (VOXX) click here.

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