Audiovox and Sprint to Announce New Product

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Audiovox announced it will team up with Sprint to offer a new product for the car’s OBD port.

Sprint, AudiovoxIt will use location based services to deliver “safety and convenience features” and it will be offered in Q1 next year.

Sprint will provide the network service.

Audiovox is expected to offer more details on the product at 10 am Eastern time today during a call with analysts to discuss its fiscal Q2.

Audiovox also announced its fiscal results for the quarter ending August 31, reporting improved sales and earnings over the same period last year. However, it remains cautious about the holiday outlook as many retail buyers are cautious in their buying for the season, it said.

Net income for Q2 was $3.4 million compared to $0.6 million for the period last year.

Net sales rose 22.5 percent to $158.3 million, compared to $129.3 million a year ago.

Electronics sales rose 33 percent to $126.7 million, boosted by the purchase of Klipsch and improvements in automotive OEM sales.

Source: Audiovox Corporation

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