VOXX Int'l (VOXX) Tops Q2 EPS by 13c

October 11, 2016 4:15 PM EDT

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VOXX Int'l (NASDAQ: VOXX) reported Q2 EPS of $0.12, $0.13 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $159.3 million versus the consensus estimate of $161 million.

Commenting on the Company's Fiscal 2017 performance, Pat Lavelle, President and CEO stated, "We reported year-over-year growth during the second quarter and remain on track to drive growth in our business this Fiscal year. While our Automotive segment is expected to be down slightly, most of it is timing related and we have new programs slated to begin towards the end of our Fiscal year. We were also awarded another $45 million in new contracts during the second quarter, bringing the total value of OEM awards received over the past three quarters to approximately $380 million. Our Consumer Accessories and Premium Audio segments posted strong growth, with new product introductions driving improvements, and load-in's for the all-important holiday season are looking good. With gross margins holding and continued cost controls in place, we expect Fiscal 2017 to show improved top- and bottom-line performance this year."

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

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