Voxx International

VOXX International Corporation Announces Joint Venture Between EyeLock LLC and GalvanEyes Partners LLC

Retrieved on: 
Thursday, March 7, 2024
Senior, VOXX, Marketing, Growth, Good, Sale, Voxx International, JV, Organization, Agreement, Partnership, Management

ORLANDO, Fla., March 7, 2024 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, today announced that its majority owned subsidiary, EyeLock LLC, has entered into a joint venture agreement (the "Agreement") with GalvanEyes Partners LLC to form BioCenturion, LLC. The combination of both companies will create a stronger and more streamlined organization bringing together technology, R&D, sales, marketing, and business development under one roof, while opening new avenues for growth.

Key Points: 
  • Companies reach agreement to engage in a joint venture and form new entity – BioCenturion, LLC
    ORLANDO, Fla., March 7, 2024 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, today announced that its majority owned subsidiary, EyeLock LLC, has entered into a joint venture agreement (the "Agreement") with GalvanEyes Partners LLC to form BioCenturion, LLC.
  • Under the Agreement, both companies will be contributing selected assets and liabilities to the joint venture.
  • EyeLock will retain the liability of the approximate $70 million Note due to VOXX, which is not part of this transaction.
  • Commenting on the joint venture and executive changes, Pat Lavelle, Chief Executive Officer of VOXX International stated, "With respect to the joint venture, I believe this is a win-win situation for the Company.

VOXX International Corporation Reports its Fiscal 2024 Second Quarter Financial Results

Retrieved on: 
Tuesday, October 10, 2023
Avalon, Ford, Security (finance), Sharp Corporation, Tax, Acquisition, Depreciation, Gentex, Advertising, Interest, UAW, Hearing, EBITDA, Common stock, Engineering, Travel, Voxx International, Electronics, VWAP, Adjustment, Webcast, Consumer electronics, Growth, Personal contract purchase, CE, OEM, Form 4, Automotive Electronics Council, Optimism, Radio, Sikorsky HH-52 Seaguard, GAAP, APG, Research, Sale, Sellers, Fiscal, Retail, Coal, Cassette tape, Music, Hunting, Grocery store, Manufacturing, Health insurance, Real estate, Agriculture, Bookkeeping, Nissan

The gross margin in the Fiscal 2024 second quarter was 25.2% as compared to 23.3% in the Fiscal 2023 second quarter, an increase of 190 basis points.

Key Points: 
  • The gross margin in the Fiscal 2024 second quarter was 25.2% as compared to 23.3% in the Fiscal 2023 second quarter, an increase of 190 basis points.
  • Net loss attributable to VOXX International Corporation in the Fiscal 2024 second quarter was $11.1 million as compared to a net loss attributable to VOXX International Corporation of $10.2 million in the comparable Fiscal 2023 period.
  • The Company reported a basic and diluted loss per share attributable to VOXX International Corporation of $0.47 in the Fiscal 2024 second quarter as compared to a basic and diluted loss per common share attributable to VOXX International Corporation of $0.42, in the comparable Fiscal 2023 period.
  • Net loss attributable to VOXX International Corporation in the Fiscal 2024 six-month period was $21.8 million as compared to a net loss attributable to VOXX International Corporation of $16.7 million in the comparable Fiscal 2023 period.

Avalon Park Group Holding AG and Avalon Park International LLC Enter into Stock Purchase Agreement with Gentex Corporation

Retrieved on: 
Tuesday, October 10, 2023
Avalon, Automotive industry, Security (finance), Common stock, Securities and Exchange Commission (Nigeria), Voxx International, GNTX, VWAP, Biometrics, Asset purchase agreement, Form 4, APG, Sellers, Cryptocurrency, Management, VOXX, Gentex

ORLANDO, Fla., Oct. 10, 2023 /PRNewswire/ -- Avalon Park Group ("APG"), a diversified family of companies across multiple industries and geographies, is pleased to announce today that it has entered into Stock Purchase Agreement with Gentex Corporation (NASDAQ: GNTX) to sell 50% of its total ownership stake in VOXX International Corporation (NASDAQ: VOXX).

Key Points: 
  • ORLANDO, Fla., Oct. 10, 2023 /PRNewswire/ -- Avalon Park Group ("APG"), a diversified family of companies across multiple industries and geographies, is pleased to announce today that it has entered into Stock Purchase Agreement with Gentex Corporation (NASDAQ: GNTX) to sell 50% of its total ownership stake in VOXX International Corporation (NASDAQ: VOXX).
  • The Stock Purchase Agreement was signed on October 5, 2023 between Avalon Park International LLC and Avalon Park Group Holding AG, as Sellers, and Gentex Corporation, as the Purchaser.
  • As noted in its Form 4 filing with the Securities and Exchange Commission on August 21, 2023, Gentex Corporation previously owned 173,808 shares of VOXX International's Class A Common Stock.
  • Gentex is one of our key partners in Biometrics and we've worked closely with them on the Automotive side of our business as well.

VOXX International Corporation Extends Employment Agreement of Chief Executive Officer

Retrieved on: 
Monday, October 2, 2023
Voxx International, Insurance, CFO, Employment, Shared services, Treasurer, Senior, Family, VOXX, Management

ORLANDO, Fla., Oct. 2, 2023 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, today announced that it has extended the employment agreement of Chief Executive Officer Pat Lavelle through February 28, 2025. The Company also disclosed upcoming changes to its executive leadership and board of directors which will take effect on March 1, 2024, the start of Fiscal Year 2025.

Key Points: 
  • ORLANDO, Fla., Oct. 2, 2023 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, today announced that it has extended the employment agreement of Chief Executive Officer Pat Lavelle through February 28, 2025.
  • The Company is pleased to announce that Loriann Shelton, who currently serves as Senior Vice President and Chief Operating Officer, will also become Chief Financial Officer effective March 1, 2024.
  • She will replace Michael Stoehr, Senior Vice President and Chief Financial Officer, who has admirably served as CFO for over 40 years.
  • Pat Lavelle, Chief Executive Officer of VOXX International stated, "I want to first congratulate Loriann.

This Week in Transportation News: 11 Stories You Need to See

Retrieved on: 
Friday, July 14, 2023
SAIC, Voxx International, Database, PR Newswire, Geography, Delta Air Lines, Related, News, Subject-matter expert, Publishing

NEW YORK, July 14, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the auto and transportation industries stay on top of the week's most newsworthy and popular releases, here's a roundup of stories from the week that shouldn't be missed.

Key Points: 
  • "In our view, this milestone reflects Hyzon's years of leadership in developing hydrogen fuel cell technology."
  • The self-developed "Honghu" intelligent driving platform is equipped with multiple sensors that provide perception safety redundancy and complete decision-making library for diverse scenarios.
  • In addition to these popular releases, several must-read earnings reports crossed the wire this week, including the quarterly results for Delta Air Lines and VOXX International .
  • Related Resources: Read and subscribe to our journalist- and blogger-focused blog, Beyond Bylines , for media news roundups, writing tips, upcoming events, and more.

$2.3+ Billion Worldwide Automotive Keyless Entry System Industry to 2031 - Rising Inclination Towards Safety and Security in Vehicles Drives Growth - ResearchAndMarkets.com

Retrieved on: 
Thursday, January 12, 2023
Aftermarket, Automotive, Automotive Manufacturing, General Automotive, Technology, Manufacturing, Hardware, Benchmark, Mitsubishi Electric, HCV, Radio, AC, Continental, Create, Directed Electronics, FBI, Atmel, LCV, Continental AG, ZF Friedrichshafen, NXP Semiconductors, Safety, Marquardt, Organization, Microchip Technology, Hyundai Mobis, Federal Bureau of Investigation, Car, State, Growth, Coronavirus, Denso, Voxx International, Motorcycle, Panasonic, Hyundai, Lear Corporation, Marketing, Motor vehicle, Satellite navigation device, Conveyor system

The main types of products in automotive keyless entry system market are passive keyless entry systems and remote keyless entry systems.

Key Points: 
  • The main types of products in automotive keyless entry system market are passive keyless entry systems and remote keyless entry systems.
  • Rising inclination towards safety and security in vehicles is driving the growth of the automotive keyless entry system market.
  • Thus, the rising proclivity towards safety and security in vehicles will drive the growth of the automotive keyless entry system market.
  • Companies operating in the automotive keyless entry system market are focusing on providing technologically advanced in-vehicle security systems such as a keyless entry system with engine start/off, AC control, and other features.

VOXX INTERNATIONAL CORPORATION SETS DATE FOR ITS FISCAL 2023 THIRD QUARTER RESULTS AND CONFERENCE CALL

Retrieved on: 
Tuesday, January 3, 2023
Annual report, Electronics, Risk, Form 10-K, Voxx International, Consumer electronics, VOXX, COVID-19, Security (finance)

The Company will also be hosting a conference call and webcast to discuss its results and provide updates on its business operations on Tuesday, January 10, 2023 at 10:00 a.m. Eastern.

Key Points: 
  • The Company will also be hosting a conference call and webcast to discuss its results and provide updates on its business operations on Tuesday, January 10, 2023 at 10:00 a.m. Eastern.
  • Participants are requested to register a day in advance or at a minimum 15 minutes before the start of the call.
  • VOXX International Corporation (NASDAQ: VOXX) has grown into a leader in Automotive Electronics and Consumer Electronics, with emerging Biometrics technology to capitalize on the increased need for advanced security.
  • The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements.

Global Biometric Vehicle Access Systems Market to Reach $2.2 Billion by 2026

Retrieved on: 
Friday, June 17, 2022
CAGR, Privacy, Industry, Hitachi, COVID-19, Safety, Players, HID Global, Environment, Weather, Technology, Intelligence, Theft, Driver Monitoring System, Commercial vehicle, Methode Electronics, Insurance, Forecasting, Car, GIA, Adoption, Research, Spotify, Growth, Genome-based peptide fingerprint scanning, ADAS, Nuance Communications, Marketing, Internet, Voice recognition, Fatigue, Trust (social science), Communication, HMI, Fujitsu Ltd. v. Netgear Inc., Face, DMS, SAN, TEE, Voxx International, Risk, Renewable energy, Security printing, Mobile phone

SAN FRANCISCO, June 17, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Biometric Vehicle Access Systems - Global Market Trajectory & Analytics" .

Key Points: 
  • SAN FRANCISCO, June 17, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Biometric Vehicle Access Systems - Global Market Trajectory & Analytics" .
  • Preview Registry
    Amid the COVID-19 crisis, the global market for Biometric Vehicle Access Systems estimated at US$1.5 Billion in the year 2022, is projected to reach a revised size of US$2.2 Billion by 2026, growing at a CAGR of 8.7% over the analysis period.
  • Also, the lower insurance premiums for cars that are equipped with biometric vehicle access systems is driving their adoption in vehicles.
  • The rising focus on offering a highly personalized experience to vehicle owners is propelling the use of biometric vehicle access systems.

VOXX INTERNATIONAL CORPORATION SETS DATE FOR ITS FISCAL 2022 FOURTH QUARTER AND YEAR-END RESULTS AND CONFERENCE CALL

Retrieved on: 
Wednesday, May 4, 2022
COVID-19, Electronics, Interest, NASDAQ, Company, Annual report, Risk, Webcast, Investor relations, Form 10-K, Conference, VOXX, ID, Voxx International, Online shopping

The Company will be hosting a conference call and webcast to discuss its results and provide updates on its business operations on Tuesday, May 17, 2022 at 10:00 a.m. Eastern.

Key Points: 
  • The Company will be hosting a conference call and webcast to discuss its results and provide updates on its business operations on Tuesday, May 17, 2022 at 10:00 a.m. Eastern.
  • Interested parties can also participate on the webcast by visiting the VOXX International website at www.voxxintl.com and clicking on "Investor Relations".
  • For those unable to participate, a webcast and teleconference replay will be available approximately one hour after the completion of the call.
  • The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements.

Global Loudspeakers Market Opportunities and Strategies Report 2022-2030: Focused Sound and 3D Sensing Modules in Loudspeakers & Re-Emergence of Vinyl Records Players - ResearchAndMarkets.com

Retrieved on: 
Wednesday, April 20, 2022
Technology, Audio, Video, Consumer Electronics, Sound, QSC, Bowers & Wilkins, Adoption, Inorganic polymer, Bowers, Population, Altec Lansing, Wi-Fi, KEF, CAGR, Sony, Growth, Dynaudio, Development, City, Bose Corporation, Health, Harman International, Voxx International, Pet, Consumer electronics

The "Loudspeakers Global Market Opportunities And Strategies To 2030, By Type Of Enclosure, End User" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Loudspeakers Global Market Opportunities And Strategies To 2030, By Type Of Enclosure, End User" report has been added to ResearchAndMarkets.com's offering.
  • Factors that could hinder the growth of the loudspeakers market in the future include negative effect on health.
  • The commercial market was the largest segment of the loudspeakers market segmented by end-user, accounting for 59.7% of the total in 2020.
  • The global loudspeakers market is concentrated, with a small number of large players in the market.