39° Good Afternoon
39° Good Afternoon

Audiovox renamed -- it's now Voxx International Corp.

Patrick Lavelle, president and chief executive of Audiovox,

Patrick Lavelle, president and chief executive of Audiovox, of Hauppauge, an electronics products distributor. (June 2010) Credit: Newsday, 2010

The automotive and consumer electronics maker Audiovox Corp., of Hauppauge, has a new name -- Voxx International Corp.

VOXX has long been the company's trading symbol on the Nasdaq stock exchange, and will remain so.

"The company believes that Voxx International is a name that better represents the widely diversified interests of the company, and the more than 30 global brands it has acquired and grown throughout the years," a Monday news release said.

"This change will create a corporate umbrella for our various subsidiaries and brands, and achieves a powerful international corporate image, creating a vehicle for each respective brand to emerge with its own identity," the release said.

In early trading Monday the company's shares were down $0.05 to $7.17, a price that represents about a 1 percent decline during the past 52 weeks. With about 1,000 employees, it has a market capitalization of roughly $150 million, and had income of $27.19 million on revenue of $625.72 million in the past four quarters.

After buying ten smaller companies in the past decade and incorporating a wide range of new products -- including high-end audio products from Klipsch and other brands -- Voxx has "the strongest brands in our company’s history; brands we believe will enable us to expand into related markets," said chief executive Patrick Lavelle.

The company is a top premium loudspeaker company worldwide, and has the top market positions "in automotive video entertainment and remote starts and TV remote controls and reception products," Voxx said in the news release.

"The company’s brands also hold leading market positions across a wide spectrum of consumer and automotive segments."

In addition to Klipsch, some of its top brands are RCA, Invision, Jensen, Audiovox, Terk, Acoustic Research and Advent.

Photo: Chief executive Patrick Lavelle, Voxx International Corp.

Read more of Inside Long Island Business

More news