VOXX, parent to Audiovox Electronics, announced Thursday its new Car Connection GPS tracking system (that can plug into a remote start system) will launch this quarter through Sears and Pep Boys.
Additionally it said it expects to launch its Dyle Mobile DTV system in May at an aftermarket price under $500.
During a conference call Thursday Audiovox CEO and President Pat Lavelle said the U.S. market is the only leading market that does not yet have Mobile DTV and he expects Audiovox to be a leader in the segment. “We believe we will have a first mover advantage due to our position as an incumbent supplier of many rear seat entertainments system to OEMs. We believe we’ll be able to have digital TV attachments to those rear seat systems.”
Another advantage for the company is that it purchased a leading supplier of Mobile DTV antennas, Hirshmann, in March.
Audiovox said its aftermarket sales were down for the recent fiscal Q2 ending August 31, but it expects to see an increase when its Car Connection GPS tracking system launches this quarter.
Mobile audio sales were lower this quarter than last year but OEM sales increased. Antenna maker Hirshmann helped boost overall electronics sales by 23.3 percent to $156.3 million. Hirshmann accounted for $39.6 million during the quarter.
Without Hirschmann, electronics sales would have declined by about $10 million on lower sales of mobile audio, and consumer products plus international sales.
Overall net sales for the quarter including accessories were up 21.1 percent to $191.7 million.
Net income was $3.7 million, up from $3.4 million a year ago.
Audiovox lowered its sales guidance for the year to $850 million, from $900 citing weaker sales in Europe and China.
Source: VOXX
