Audiovox Corporation has been publicly traded since 1987 (NASDAQ: VOXX).
Located in Hauppauge, NY, Audiovox was founded in 1965 in the car radio distribution business and later expanded into other mobile communications and consumer product lines. The Company has been one of the premier brands in mobile electronics and over the years, has become one of the leading suppliers of consumer electronics products and accessories nationwide with an expanding footprint in select European markets.
Audiovox markets its products through an extensive distribution network that includes power retailers, 12-volt specialists, mass merchandisers and an OE sales group. Through acquisition, the Company has amassed an impressive product portfolio consisting of well respected and well known brands including Audiovox, RCA, Jensen, Acoustic Research, Energizer, Advent, Code Alarm, TERK, Prestige and SURFACE. International brands include Magnate, Mac Audio, Heco, Oehlbach and Incaar.
Today, the Company is ranked number one in mobile video and mobile multi-media and places in the top ten of many of the categories that it sells. The Company's mobile electronics products include mobile video systems, auto sound systems including satellite radio, vehicle security and remote start systems; consumer electronics products include MP3 players, digital camcorders, DVRs, clock radios, portable DVD players, extended range two-way radios, multimedia products like digital picture frames and home and portable stereos; consumer electronics accessories such as indoor/outdoor antennas, connectivity products, headphones, speakers, wireless solutions, remote controls, power & surge protectors and media cleaning & storage devices; Energizer-branded products for rechargeable batteries and battery packs for camcorders, cordless phones, digital cameras and DVD players, as well as for power supply systems, automatic voltage regulators and surge protectors.
In fiscal 2009, Audiovox posted net sales of $603.1 million, an increase of $11.7 million or 2.0% compared to the prior fiscal year. Management is focused on growing sales and margins, while aggressively managing its overhead through this economic downturn. Furthermore, the Company boasts a strong balance sheet with close to $70 million and very little debt. Management intends to pursue strategic and synergistic acquisitions that will contribute to both top-and bottom-line growth in the years ahead and is highly focused on generating long-term sustainable returns for its shareholders. For additional information, please visit our website at www.audiovox.com.
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