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Audiovox Reports Sales Loss
Oct 14, 2009
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Audiovox Corp. reported a net sales decrease for fiscal 2010 second quarter. Net sales were US$124.9 million compared to net sales of US$147.2 million reported in the prior year period, a decrease of 15.2%.

Accessories sales for the fiscal 2010 second quarter were $45.9 million, an increase of 29%.

Electronics sales, which include both mobile and consumer electronics, were $79 million for the fiscal 2010 second quarter, a decrease of 29.2%. The company said the decline is primarily due to lower sales of consumer goods, mostly as a result of its exit from lower profit product categories such as flat-screen TV's, portable navigation, and GMRS radios, and mobile electronics products due to the weakening U.S. economy and lower vehicle sales. The decline was partially offset by increased sales of satellite radio products and digital clock radios.

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