Audiovox Corporation (NASDAQ: VOXX) is an American consumer electronics company founded in 1965 and headquartered in Hauppauge, New York.
Among the domestic brands now owned by Audiovox are: Acoustic Research, Advent, Code Alarm, Invision, Jensen, Prestige, RCA, and Terk. The international brands they own include Heco, Incaar, Oehlbach, Mac Audio, Magnate and Schwaiger, among others. In addition the company licenses the Energizer brand.
Audiovox Corporation (Audiovox), incorporated on April 10, 1987, is an international distributor in the accessory, mobile and consumer electronics industries. Audiovox markets the products under the Audiovox brand name, other brand names and licensed brands, such as Acoustic Research, Advent, Ambico, Car Link, Chapman, Code-Alarm, Discwasher, Energizer, Heco, Incaar, Invision, Jensen, Mac Audio, Magnat, Movies2Go, Oehlbach, Phase Linear, Prestige, Pursuit, RCA, RCA Accessories, Recoton, Road Gear, Schwaiger, Spikemaster and Terk, as well as private labels through domestic and international distribution network. The Company’s wholly owned subsidiaries include American Radio Corp., Audiovox Electronics Corporation (AEC), Audiovox Accessories Corp. (AAC), Audiovox Consumer Electronics, Inc. (ACE), Audiovox German Holdings GmbH (Audiovox Germany), Audiovox Venezuela, C.A., Audiovox Canada Limited, Entretenimiento Digital Mexico, S. de C.V. (Audiovox Mexico), Code Systems, Inc, Schwaiger GmbH (Schwaiger) and Invision Automotive Systems, Inc. (Invision). In February 2010, the Company’s subsidiary, Invision completed the acquisition of the assets of Invision Industries, Inc. In October 2009, Audiovox Germany completed the acquisition of assets of Schweaiger. In March 2011, the Company acquired Klipsch Group, Inc.
The electronic products of the Company include mobile multi-media video products, including in-dash, overhead, headrest and portable mobile video systems, autosound products including radios, speakers, amplifiers and compact disc (CD) changers, satellite radios, including plug and play models and direct connect models, automotive security and remote start systems, automotive power accessories, rear observation and collision avoidance systems, and home and portable stereos. It also includes digital multi-media products such as personal video recorders and moving picture experts group layer-three audio (MP3) products, camcorders, clock-radios, digital voice recorders, home speaker systems, portable digital versatile disc (DVD) players, digital picture frames, and e-readers.
The accessories products include high-definition television (HDTV) antennas, wireless fidelity (WiFi) antennas, high-definition multimedia interface (HDMI) accessories, home electronic accessories, such as cabling, other connectivity products, power cords, performance enhancing electronics, and television universal remotes. It also includes flat panel television mounting systems, iPod specialized products, wireless headphones, rechargeable battery backups (UPS) for camcorders, cordless phones and portable video (DVD) batteries and accessories, power supply systems, electronic equipment cleaning products, and set-top boxes.
The services provided by the Company includes product design and development, engineering and testing, sales training and customer packaging, and in-store display design. It also includes installation training and technical support, product repair services and warranty, nationwide installation network, warehousing, and specialized manufacturing.
The Company competes with General Motors, Ford, Chrysler, Sony, Panasonic, Kenwood, Directed Electronics, Autopage, Rosen, Myron and Davis, Coby, Phillips, Insignia, Pioneer, Phillips, Emerson Radio, Jaco and Belkin.
Audiovox was divided in 1999 into a Wireless Group and an Electronics Group. The Wireless Group, acting through Audiovox Communications Corp., a 95 percent-owned subsidiary, was selling handsets and accessories. It raised its sales 110 percent in 1999 and accounted for 80 percent of company revenue. Digital products grew to 56 percent of the unit's sales, compared to 19 percent in 1998. The group also was selling a complete line of accessories, including batteries, hands-free kits, battery eliminators, cases, and hands-free earphones.
The Wireless Group was operating about 20 subscriber facilities under the names Quintex or American Radio and was licensing the trade names Audiovox, Quintex, and American Radio to five retail outlets in the United States. Its five largest wireless customers were Bell Atlantic Mobile, AirTouch Communications Inc., PrimeCo Personal Communications LP, MCI Worldcom, and United States Cellular Corporation. Acting through Audiovox Communications, it was also operating several retail locations under the Quintex name. Although not engaged in manufacturing, the company was working closely with both customers and suppliers in the design, development, and testing of its products.
The Electronics Group consisted of two major categories: mobile electronics and consumer electronics. The former included auto sound products, such as radios, speakers, amplifiers, and DC changers, and mobile video products, including console mobile entertainment systems, videocassette players, game options, automotive security and remote start systems, and automotive power accessories. The latter included home and portable stereos, two-way radios, LCD televisions, and MP-3 Internet music player/recorders. These products were being marketed under the Audiovox brand name and several other company-owned trade names, including Prestige, Pursuit, and Rampage.
The Electronics Group's customers included a variety of mass merchants, chain stores, specialty retailers, distributors, new car dealers, and subsidiaries of auto manufacturers. Its five biggest customers in 1999 were Gulf States Toyota, Kmart Corporation, Southeast Toyota, Alkon International, and Costco. Sales of Audiovox's Malaysian and Venezuelan subsidiaries fell under the Electronics Group. TALK Corporation continued to be the joint venture that held distribution rights for products manufactured by Shintom Ltd., with Audiovox holding exclusive distribution rights on all its wireless personal communications products for most of the world. Audiovox Specialized Applications, a joint venture formed in 1997, was responsible for distributing products for van, RV, and other specialized vehicles. Also formed in 1997, Bliss-Tel Company, Ltd. distributed wireless products and accessories in Thailand.
Audiovox was leasing 33 facilities in 11 states and a Canadian province in 1999. It also owned and leased facilities in Malaysia and Venezuela. Company headquarters remained in an industrial park in Hauppauge, Long Island. Shalam was still president and chief executive officer of Audiovox. The company's long-term debt was $122.8 million at the end of fiscal 1999. Shalom owned 20.7 percent of the company's Class A shares in February 2000.
Principal Subsidiaries: Audiovox Canada Limited (Canada); Audiovox Communications Corp. (95%); Audiovox Communications (Malaysia) Sdn. Bhd.; Audiovox Holding Corp.; Audiovox Holdings (M) Sdn. Bhd.; Audiovox Venezuela C.A. (Venezuela); Quintex Mobile Communications Corp.
Principal Operating Units: Electronics Group; Wireless Group.
Principal Competitors: Nokia Inc.; CellStar Corp.; Ericsson Inc.; Motorola Inc.; Motor Sound Corp.
OVERALL
Beta: 1.98
Market Cap (Mil.): $170.05
Shares Outstanding (Mil.): 23.04
Annual Dividend: --
Yield (%): --
FINANCIALS
VOXX.O Industry Sector
P/E (TTM): 13.90 36.45 8.93
EPS (TTM): 122.41 -- --
ROI: 3.08 1.99 0.90
ROE: 3.32 2.57 1.56
Statistics:
Public Company
Incorporated: 1960
Employees: 950
Sales: $1.16 billion (fiscal 1999)
Stock Exchanges: NASDAQ Chicago
Ticker Symbol: VOXX
NAIC: 42169 Other Electronic Parts & Equipment Wholesalers; 443112 Radio, Television & Other Electronics Stores; 513322 Cellular & Other Wireless Telecommunications
Key Dates:
1960: Audiovox is founded as an import trading company.
1965: Audiovox begins dealing exclusively in auto sound systems.
1984: Audiovox begins selling cellular telephones.
1989: The company introduces a wireless home security system.
1997: Cellular phones account for 70 percent of revenue.
1999: Audiovox markets a full line of cell phones.
Name Age Since Current Position
Shalam, John 76 2005 Chairman of the Board
Lavelle, Patrick 58 2005 President, Chief Executive Officer, Director
Stoehr, Charles 63 1990 Senior Vice President, Chief Financial Officer, Director
Geise, C. David 59 2007 Senior Vice President - Sales; President of Audiovox Accessories Corp.
Malone, Thomas 55 2007 Senior Vice President - Sales; President of Audiovox Electronics Corporation
Shelton, Loriann 53 2006 SVP - Accounting and Credit; Chief Financial Officer of Audiovox Electronics Corporation
Johnson, Chris 58 2006 Vice President - Employee Programs, Corporate Secretary
Christopher, Philip 61 2004 Independent Director
Kreuch, Paul 71 1997 Independent Director
McManus, Dennis 59 1998 Independent Director
Lesser, Peter 75 2003 Independent Director
Address:
150 Marcus Boulevard
Hauppauge, New York 11788
U.S.A.
Among the domestic brands now owned by Audiovox are: Acoustic Research, Advent, Code Alarm, Invision, Jensen, Prestige, RCA, and Terk. The international brands they own include Heco, Incaar, Oehlbach, Mac Audio, Magnate and Schwaiger, among others. In addition the company licenses the Energizer brand.
Audiovox Corporation (Audiovox), incorporated on April 10, 1987, is an international distributor in the accessory, mobile and consumer electronics industries. Audiovox markets the products under the Audiovox brand name, other brand names and licensed brands, such as Acoustic Research, Advent, Ambico, Car Link, Chapman, Code-Alarm, Discwasher, Energizer, Heco, Incaar, Invision, Jensen, Mac Audio, Magnat, Movies2Go, Oehlbach, Phase Linear, Prestige, Pursuit, RCA, RCA Accessories, Recoton, Road Gear, Schwaiger, Spikemaster and Terk, as well as private labels through domestic and international distribution network. The Company’s wholly owned subsidiaries include American Radio Corp., Audiovox Electronics Corporation (AEC), Audiovox Accessories Corp. (AAC), Audiovox Consumer Electronics, Inc. (ACE), Audiovox German Holdings GmbH (Audiovox Germany), Audiovox Venezuela, C.A., Audiovox Canada Limited, Entretenimiento Digital Mexico, S. de C.V. (Audiovox Mexico), Code Systems, Inc, Schwaiger GmbH (Schwaiger) and Invision Automotive Systems, Inc. (Invision). In February 2010, the Company’s subsidiary, Invision completed the acquisition of the assets of Invision Industries, Inc. In October 2009, Audiovox Germany completed the acquisition of assets of Schweaiger. In March 2011, the Company acquired Klipsch Group, Inc.
The electronic products of the Company include mobile multi-media video products, including in-dash, overhead, headrest and portable mobile video systems, autosound products including radios, speakers, amplifiers and compact disc (CD) changers, satellite radios, including plug and play models and direct connect models, automotive security and remote start systems, automotive power accessories, rear observation and collision avoidance systems, and home and portable stereos. It also includes digital multi-media products such as personal video recorders and moving picture experts group layer-three audio (MP3) products, camcorders, clock-radios, digital voice recorders, home speaker systems, portable digital versatile disc (DVD) players, digital picture frames, and e-readers.
The accessories products include high-definition television (HDTV) antennas, wireless fidelity (WiFi) antennas, high-definition multimedia interface (HDMI) accessories, home electronic accessories, such as cabling, other connectivity products, power cords, performance enhancing electronics, and television universal remotes. It also includes flat panel television mounting systems, iPod specialized products, wireless headphones, rechargeable battery backups (UPS) for camcorders, cordless phones and portable video (DVD) batteries and accessories, power supply systems, electronic equipment cleaning products, and set-top boxes.
The services provided by the Company includes product design and development, engineering and testing, sales training and customer packaging, and in-store display design. It also includes installation training and technical support, product repair services and warranty, nationwide installation network, warehousing, and specialized manufacturing.
The Company competes with General Motors, Ford, Chrysler, Sony, Panasonic, Kenwood, Directed Electronics, Autopage, Rosen, Myron and Davis, Coby, Phillips, Insignia, Pioneer, Phillips, Emerson Radio, Jaco and Belkin.
Audiovox was divided in 1999 into a Wireless Group and an Electronics Group. The Wireless Group, acting through Audiovox Communications Corp., a 95 percent-owned subsidiary, was selling handsets and accessories. It raised its sales 110 percent in 1999 and accounted for 80 percent of company revenue. Digital products grew to 56 percent of the unit's sales, compared to 19 percent in 1998. The group also was selling a complete line of accessories, including batteries, hands-free kits, battery eliminators, cases, and hands-free earphones.
The Wireless Group was operating about 20 subscriber facilities under the names Quintex or American Radio and was licensing the trade names Audiovox, Quintex, and American Radio to five retail outlets in the United States. Its five largest wireless customers were Bell Atlantic Mobile, AirTouch Communications Inc., PrimeCo Personal Communications LP, MCI Worldcom, and United States Cellular Corporation. Acting through Audiovox Communications, it was also operating several retail locations under the Quintex name. Although not engaged in manufacturing, the company was working closely with both customers and suppliers in the design, development, and testing of its products.
The Electronics Group consisted of two major categories: mobile electronics and consumer electronics. The former included auto sound products, such as radios, speakers, amplifiers, and DC changers, and mobile video products, including console mobile entertainment systems, videocassette players, game options, automotive security and remote start systems, and automotive power accessories. The latter included home and portable stereos, two-way radios, LCD televisions, and MP-3 Internet music player/recorders. These products were being marketed under the Audiovox brand name and several other company-owned trade names, including Prestige, Pursuit, and Rampage.
The Electronics Group's customers included a variety of mass merchants, chain stores, specialty retailers, distributors, new car dealers, and subsidiaries of auto manufacturers. Its five biggest customers in 1999 were Gulf States Toyota, Kmart Corporation, Southeast Toyota, Alkon International, and Costco. Sales of Audiovox's Malaysian and Venezuelan subsidiaries fell under the Electronics Group. TALK Corporation continued to be the joint venture that held distribution rights for products manufactured by Shintom Ltd., with Audiovox holding exclusive distribution rights on all its wireless personal communications products for most of the world. Audiovox Specialized Applications, a joint venture formed in 1997, was responsible for distributing products for van, RV, and other specialized vehicles. Also formed in 1997, Bliss-Tel Company, Ltd. distributed wireless products and accessories in Thailand.
Audiovox was leasing 33 facilities in 11 states and a Canadian province in 1999. It also owned and leased facilities in Malaysia and Venezuela. Company headquarters remained in an industrial park in Hauppauge, Long Island. Shalam was still president and chief executive officer of Audiovox. The company's long-term debt was $122.8 million at the end of fiscal 1999. Shalom owned 20.7 percent of the company's Class A shares in February 2000.
Principal Subsidiaries: Audiovox Canada Limited (Canada); Audiovox Communications Corp. (95%); Audiovox Communications (Malaysia) Sdn. Bhd.; Audiovox Holding Corp.; Audiovox Holdings (M) Sdn. Bhd.; Audiovox Venezuela C.A. (Venezuela); Quintex Mobile Communications Corp.
Principal Operating Units: Electronics Group; Wireless Group.
Principal Competitors: Nokia Inc.; CellStar Corp.; Ericsson Inc.; Motorola Inc.; Motor Sound Corp.
OVERALL
Beta: 1.98
Market Cap (Mil.): $170.05
Shares Outstanding (Mil.): 23.04
Annual Dividend: --
Yield (%): --
FINANCIALS
VOXX.O Industry Sector
P/E (TTM): 13.90 36.45 8.93
EPS (TTM): 122.41 -- --
ROI: 3.08 1.99 0.90
ROE: 3.32 2.57 1.56
Statistics:
Public Company
Incorporated: 1960
Employees: 950
Sales: $1.16 billion (fiscal 1999)
Stock Exchanges: NASDAQ Chicago
Ticker Symbol: VOXX
NAIC: 42169 Other Electronic Parts & Equipment Wholesalers; 443112 Radio, Television & Other Electronics Stores; 513322 Cellular & Other Wireless Telecommunications
Key Dates:
1960: Audiovox is founded as an import trading company.
1965: Audiovox begins dealing exclusively in auto sound systems.
1984: Audiovox begins selling cellular telephones.
1989: The company introduces a wireless home security system.
1997: Cellular phones account for 70 percent of revenue.
1999: Audiovox markets a full line of cell phones.
Name Age Since Current Position
Shalam, John 76 2005 Chairman of the Board
Lavelle, Patrick 58 2005 President, Chief Executive Officer, Director
Stoehr, Charles 63 1990 Senior Vice President, Chief Financial Officer, Director
Geise, C. David 59 2007 Senior Vice President - Sales; President of Audiovox Accessories Corp.
Malone, Thomas 55 2007 Senior Vice President - Sales; President of Audiovox Electronics Corporation
Shelton, Loriann 53 2006 SVP - Accounting and Credit; Chief Financial Officer of Audiovox Electronics Corporation
Johnson, Chris 58 2006 Vice President - Employee Programs, Corporate Secretary
Christopher, Philip 61 2004 Independent Director
Kreuch, Paul 71 1997 Independent Director
McManus, Dennis 59 1998 Independent Director
Lesser, Peter 75 2003 Independent Director
Address:
150 Marcus Boulevard
Hauppauge, New York 11788
U.S.A.