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Voxx doubles net income
Voxx International Corp., a Hauppauge automotive and consumer electronic-products maker, reported that net income more than doubled to $8.9 million in its fiscal third quarter, which ended Nov. 30. Sales rose 27 percent to $206.8 million. For the nine months, net income also more than doubled — to $14.8 million. Sales in that period rose 25 percent to $530.5 million.
“The holiday season is over, and while not overly robust, there was a pick up in certain categories, which should continue into our fourth fiscal quarter,” the company’s president and chief executive, Pat Lavelle, said in a statement.
Voxx recently changed its named from Audiovox.
Photo shows Pat Lavelle.