VOXX International Earnings: Here’s Why Investors are Happy Now
VOXX International (NASDAQ:VOXX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.55%.
VOXX International Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.09 in the quarter versus EPS of $-0.20 in the year-earlier quarter.
Revenue: Decreased 0.54% to $193 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: VOXX International reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0.04. It beat the average revenue estimate of $191.97 million.
Quoting Management: Pat Lavelle, President and CEO stated, “Our first quarter results were mostly as expected with sales coming in slightly ahead of projections, despite the small year-over-year decline. We saw a nice uptick in our gross margins which, as expected, helped offset some of the expense increases we had previously projected, and most telling, we improved our bottom-line performance. Despite the volatile global markets, we’re executing our plan, driving technology, expanding distribution and forming meaningful long-term partnerships with our customers. I feel confident in our ability to meet the guidance we provided on our fiscal year-end call.”
Key Stats (on next page)…
Revenue decreased 6.67% from $206.79 million in the previous quarter. EPS decreased 79.07% from $0.43 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.20 to a profit $0.14. For the current year, the average estimate has moved down from a profit of $1.24 to a profit of $1.03 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)