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VOXX International | 8-K: VOXX International Corporation Reports its Fiscal 2025 First Quarter Financial Results

VOXX International | 8-K: VOXX International Corporation Reports its Fiscal 2025 First Quarter Financial Results

奧迪富斯 | 8-K：VOXX 國際公司公佈其2025財年第一季度財務業績
美股SEC公告 ·  2024/07/16 05:10

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VOXX International reported Q1 FY2025 net sales of $91.7M, down 18.1% YoY, while gross margins improved 310 basis points to 27.7%. Operating loss narrowed to $7.1M from $11.4M last year, with Adjusted EBITDA loss improving to $2.9M from $4.9M. The company reduced operating expenses by 16.6% through restructuring initiatives and headcount reductions.The Automotive segment saw a 27.9% decline to $27.7M due to lower OEM rear seat entertainment sales, while Consumer Electronics dropped 12.8% to $63.9M. Premium Audio product sales increased slightly to $48.4M driven by new product launches. The company is transitioning OEM production to Mexico and plans to complete the move by Q2 end.Management announced plans to reduce debt by approximately $45M through asset sales, including the Orlando facility sale expected in Q3. The company has engaged consulting firm Accordion to optimize operations and aims to cut overhead by another 5% in H2. Despite challenging market conditions, VOXX expects to return to profitability this fiscal year through continued cost reduction and operational improvements.
VOXX International reported Q1 FY2025 net sales of $91.7M, down 18.1% YoY, while gross margins improved 310 basis points to 27.7%. Operating loss narrowed to $7.1M from $11.4M last year, with Adjusted EBITDA loss improving to $2.9M from $4.9M. The company reduced operating expenses by 16.6% through restructuring initiatives and headcount reductions.The Automotive segment saw a 27.9% decline to $27.7M due to lower OEM rear seat entertainment sales, while Consumer Electronics dropped 12.8% to $63.9M. Premium Audio product sales increased slightly to $48.4M driven by new product launches. The company is transitioning OEM production to Mexico and plans to complete the move by Q2 end.Management announced plans to reduce debt by approximately $45M through asset sales, including the Orlando facility sale expected in Q3. The company has engaged consulting firm Accordion to optimize operations and aims to cut overhead by another 5% in H2. Despite challenging market conditions, VOXX expects to return to profitability this fiscal year through continued cost reduction and operational improvements.
奧迪富斯報告2025財年第一季度淨銷售額爲9170萬，較去年同期下滑18.1%，而毛利率提高了310個點子，達到27.7%。營業虧損從去年的1140萬縮減至710萬，調整後的EBITDA虧損從490萬改善至290萬。公司通過重組措施和裁員將營業費用減少了16.6%。汽車部門由於OEM後座娛樂銷售下降，銷售額下降了27.9%，達2770萬，而消費電子則下降了12.8%，達6390萬。由於新產品發佈，優質音頻產品銷售輕微增長至4840萬。公司正在將OEM生產轉移到墨西哥，計劃在第二季度結束前完成搬遷。管理層宣佈計劃通過資產出售減少約4500萬債務，包括預計在第三季度完成的奧蘭多設施的出售。公司已與諮詢公司Accordion合作，優化運營，目標在下半年再削減5%的管理費用。儘管市場環境充滿挑戰，奧迪富斯預計通過持續降低成本和改善運營在本財年內恢復盈利。
奧迪富斯報告2025財年第一季度淨銷售額爲9170萬，較去年同期下滑18.1%，而毛利率提高了310個點子，達到27.7%。營業虧損從去年的1140萬縮減至710萬，調整後的EBITDA虧損從490萬改善至290萬。公司通過重組措施和裁員將營業費用減少了16.6%。汽車部門由於OEM後座娛樂銷售下降，銷售額下降了27.9%，達2770萬，而消費電子則下降了12.8%，達6390萬。由於新產品發佈，優質音頻產品銷售輕微增長至4840萬。公司正在將OEM生產轉移到墨西哥，計劃在第二季度結束前完成搬遷。管理層宣佈計劃通過資產出售減少約4500萬債務，包括預計在第三季度完成的奧蘭多設施的出售。公司已與諮詢公司Accordion合作，優化運營，目標在下半年再削減5%的管理費用。儘管市場環境充滿挑戰，奧迪富斯預計通過持續降低成本和改善運營在本財年內恢復盈利。
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