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VOXX International Corporation Message Board

  • mchlr963 mchlr963 Oct 9, 2013 4:59 PM Flag

    Earnings and margins are very good

    Improvements in these 2 areas. Sales off a little appears to be from exit from lower margin lines and also economic climate in Venezuela (?).

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    • The Q wasn't bad, but also wasn't really good. Pre-tax operating income margin was down to slightly above break even - $ 2 million on $ 180 million of sales, or just above 1% margin, compared to 3.5% in Q2 last year. It was presumably nonrecurring items, like a recovery from Circuit City (how long has it been since CC went under?), that made the bottom line look good. But hopefully, it was also nonrecurring items that made the operating income line so weak.

      But it's only a quarter, and traditionally a slow quarter, so everything looks OK. They say they are still exiting some product lines, and from what I read, Venezuela has become a real basket case under the new leader's regime. So no surprises, and hopefully they are building the continuing business.

      I don't know if VOXX gives guidance or not (we'll see this AM on the call), but Q3 is the key. It's always the strongest, and I'd like to hear management say something positive about operating margins going forward.

    • Up 5% during the day, before announcing, down 6% after the announcement. More review needed.

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