VOXX International Earnings: Here’s Why Investors are Happy Now
VOXX International (NASDAQ:VOXX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.55%.
VOXX International Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.09 in the quarter versus EPS of $-0.20 in the year-earlier quarter.
Revenue: Decreased 0.54% to $193 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: VOXX International reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0.04. It beat the average revenue estimate of $191.97 million.
Quoting Management: Pat Lavelle, President and CEO stated, “Our first quarter results were mostly as expected with sales coming in slightly ahead of projections, despite the small year-over-year decline. We saw a nice uptick in our gross margins which, as expected, helped offset some of the expense increases we had previously projected, and most telling, we improved our bottom-line performance. Despite the volatile global markets, we’re executing our plan, driving technology, expanding distribution and forming meaningful long-term partnerships with our customers. I feel confident in our ability to meet the guidance we provided on our fiscal year-end call.”
Key Stats (on next page)…